The future does not look bright for many people with Government spending cuts on the way and the possibility of interest rates rising before too long. If you are already struggling and in debt now is the time to get help as things look like they will be getting worse.

Sorry to be such purveyors of doom but we have to be realistic. There is not a lot of good financial news at the moment and it is likely that, as always, it will be the average citizen that takes the brunt of the financial problems.

Now is the time to take stock of your incomings and outgoings and make sure that your household books are balancing. If you have a little spare cash every month this could be used to cushion the blows when they inevitably come.

If you are unable to balance your books, no matter what you try, it could be the time to get some financial help as a deficit, month after month, will inevitably lead to debt problems.

For those already struggling with mounting debts don’t delay, get help as quickly as possible to avoid the problems getting any bigger. A debt management solution could leave you paying less and better able to cope with the unexpected in the future.

Categories: Debt, Economy

The latest research has revealed that four-in-ten British adults are concerned about the amount of their personal debt. One of the biggest areas of worry is credit card debt with over half of respondents expressing serious concerns.

Nearly one-third thought of their overdraft as their biggest financial worry with one-fifth concerned about loan and mortgage repayments. In the largest cities such as London, Manchester and Newcastle debt worry was much higher than in rural areas.

Debt has become a way of life for far too many people. Even those with relatively meagre lifestyles find it hard to manage with the high cost of living in the UK. However panicking and worrying too much about debt is not the answer.

Even low levels of debt can cause concern and sleepless nights. In these cases it may only take some small changes to household budgeting in order to get back on track and free from debt.

The answer to debt problems is to seek help early and get on top of them.

Anyone who is worried about debt can get free debt advice and in almost every case there is a solution which will lead you to becoming debt free in the future.

Categories: Debt, General

There are a range of options for people struggling with debt problems in order for them to get out of debt. Searching the internet for the best solution for your particular circumstances can be time consuming and ultimately fruitless.

The first step to finding the right debt problem solution is to use our simple online debt solution calculator. By entering your total amount of debt, number of creditors and current monthly repayments you can see recommended debt solutions based on your actual circumstances.

The results page also contains our quick and easy enquiry form making it easier for you to contact us if the options are appealing.

Our calculator can only give an indication of the best solution based upon the data provided. For instance, a debt consolidation loan may be at a higher or lower interest rate than quoted dependent upon your circumstances.

The options for debt management and IVAs also only show the maximum likely figure you could write off and not revised repayments. A fresh repayment schedule will have to be agreed with all of your creditors before a final figure is reached.

However, you don't have to worry about the intricacies of the negotiations, that is all done for you. We make it as easy as possible to find the right debt solution and to get out of debt as quickly as possible.

So give our online debt calculator a try and see what might be achievable in dealing with your debt problems. We are only a click or phone call away if you need free debt advice and help. All applications are treated in the strictest confidence.

Categories: Debt, Website

Having run through step 1 to becoming debt free you will now know your total debt. Step 2 will have shown you how much you can afford to spend on debt repayments. It is almost certain that the amount you are currently spending to service your debts is greater than the amount you can afford. So what can you do about it?

Whilst it is possible for you to try and resolve your debt problems yourself, by contacting all of your creditors, negotiating with them to freeze interest, write off a proportion of your debts and reduce your monthly repayments it will take you a lot of time and effort and is not guaranteed to produce results.

By utilizing a debt solution service like ours we do all of the hard work for you. Whichever debt solution is best for your individual circumstances, be it a consolidation loan, debt management program or IVA we walk you through every step of the way ensuring the best result for you.

To obtain our free debt advice all you have to do is complete our online enquiry form (it will only take you a couple of minutes). We then analyze all of the relevant factors to determine the best debt solution for you.

By filling out our enquiry form and contacting us you have taken the first major step to becoming debt free. Providing you stick to the proposed solution for the full length of time the debt will have been repaid and you will be back on the road to recovery.

Whilst some debt solutions, such as an IVA, will have an effect on your credit rating, by making the repayments and getting debt free you have demonstrated your commitment to repayments and it is possible to repair your credit rating reasonably quickly.

Categories: Debt, General

If you have followed step 1 to becoming debt free you now have a total debt figure calculated. Now we need to know more about your income and other outgoings. This will give you an idea about how much money you have to spend each month to service your debt repayments.

Using your bank statements make a note of all credits on your account. This will include:

· Wages/Salary

· Benefits (eg. Tax credit/child benefit)

· Any other regular income

Add this up to give you a total monthly household income. Now make a note of your regular outgoings which will include:

· Mortgage/Rent

· Food

· Utilities (gas/elec/water/telephone etc.)

· Council tax

· Insurance

· Other (TV licence/subscriptions etc.)

This second figure should EXCLUDE any repayments made to service debts. Hopefully the first figure will exceed the second and the difference is the amount you can afford to repay to your creditors.

Taking into account the amount of debt you owe, the number of creditors you owe to and the amount you can afford to repay we can now calculate the best debt solution for your individual circumstances. There is a simple debt solution calculator on our website which will give you an initial idea.

Now we move on to the third and final step. Getting professional debt advice.

Categories: Debt, General

The first step to becoming debt free is to calculate your debt. The amount of debt you have will fluctuate on a daily basis as interest is added and further spending is made. However you do not need to know to the exact penny how much your debts are. A rough figure will do.

Start by looking at your bank statement to see where money is being paid out. This should show you where debt repayments are being made. Focus particularly on credit cards, store cards and loan repayments. Then dig out your last statement from each and write down the total outstanding in a list.

If you have access to online banking you may be able to log-in and find out a more exact figure. In this case make sure you note down the figure outstanding on that day. Some of the debts you may currently have include:

· Credit Cards

· Store Cards

· Personal Loans

· Car Finance

· Catalogues

· HP Agreements

Many of these type of debts attract high rates of interest so each month you leave a balance outstanding your debt problems will get worse. Replacing them with a lower interest loan over a longer period could save you money each month. However you need to make sure that once they have been repaid you don’t take out any more credit until your loan has finished. This will leave you debt free.

A debt consolidation loan is just one way of solving your debt problems. There are others including debt management or an IVA. Step 2 to becoming debt free is to identify the best debt solution and we will cover this topic in our next blog post.

Categories: Debt, General

It is not going to surprise many that recent research has confirmed debt problems have an adverse affect on people’s health, relationships and their ability to do their jobs. Anyone who has ever had money problems or worries at any time (and that must be most of us) will know that they can dominate every waking moment.

The inability to pay bills and the impact this has on your thinking, particularly when you think about the future and how you are going to survive/get out of your debt problems, means that it is an extremely stressful time. Not wanting to worry your partner or family leads to many keeping the problems to themselves, hoping than an answer will turn up. This is unlikely.

The best course of action is always to be open about it and to seek help as soon as possible. We know this is difficult to do and that talking to people about your problems can be embarrassing, particularly for men, who tend to be in charge of the family finances.

However, it is unlikely your problems are any different to the many others who suffer with debt and often talking about it, particularly with a sympathetic counselor, lifts the weight off your shoulders. Knowing that you have started to take the first steps towards dealing with your debt problems will help you sleep at night and relieve at least some of the stress.

Professional debt advice can offer you a solution to your money worries and you could even be debt free within a few years. Don’t leave it too late, debt will increase if left to its own devices. As soon as you notice a problem seek help.

The best solution for you depends upon your circumstances. This might involve debt consolidation, debt management or an IVA. A trained debt counselor will be able to give you advice about which will save you the most money and allow you to be debt free as quickly as possible.

Categories: Debt, General

There have been difficult times recently with the financial crisis and there are more to come for many with the new austerity measures announced in the recent budget. Many businesses have survived but with increased debt to keep themselves afloat.

Servicing these debts costs money and if the interest rate is high you could save each and every month by getting a business loan consolidating all of your debts. Whilst business finance has been hard to come by in the last couple of years there are plenty of signs that recovery is on its way, if only slowly.

If you have been turned down for a business loan via your bank this does not have to be the end of the line. A business loan broker will have access to many different lenders for all types of circumstances.

It might also be possible to take extra capital to invest in the business as well as clearing your debts. The way to find out is to get in touch with Yes Business Loans and see what they can offer you. It doesn’t cost anything to find out and there is no obligation to proceed if the figures don’t add up.

Yes do as much of the running around as they can for you leaving you to run your own business. In the meantime they work hard on your behalf to get the best deal available in the market for your particular circumstances. At Yes they like to say YES to business loans and finance.

Categories: Debt, Economy

We have updated our debt calculator (above) to show debt management solutions where appropriate. Debt management is available for any amount of debt, however if your debt is more than £10,000 and you owe 3 creditors or more an IVA is likely to be the better solution as it will usually involve writing off more of your debt.

Debt management consists of a process whereby all of your existing creditors are contacted to settle their loans with a reduced figure. At the same time interest is frozen on your debts. Once a new schedule of payments has been agreed you continue to make those payments until the end of the term in order to clear your debts.

Reductions in debt via a debt management programme will typically be around 40%, although it does depend upon individual circumstances. Whilst you are in the process of debt management you will not likely be able to get further credit, however once you have successfully completed the programme and cleared your debts you are on the road to repairing your credit record and becoming creditworthy again.

We offer a full range of debt solutions together with free debt advice. By contacting us you are taking a positive step to getting your finances sorted out and improving your life. Whatever your individual circumstances, no matter how bad they may seem, get in touch to see how we might help you.

Categories: Debt, General

An awful lot of people in the UK have debt in some form or another. Whilst repayments are manageable this tends to be ignored and life continues as normal. However, as the cost of living rises meeting these debt repayments becomes more difficult and then it is considered a debt problem.

In the early stages it is possible that debt management can be done without professional help. Make a budget showing exactly how much money is coming in to the household and where it is being spent. Look at ways you can cut back on any items that you can do without.

It is possible you can balance your own books if your incomings and outgoings are not too far apart. Make a revised budget and stick to it so that you can live within your means. Make repaying your debt a priority and, if at all possible, try to reach a situation where you are debt free.

Whilst this may be possible for some, for others their debts have already become a major problem through months or years of neglect. If you are unable to meet your debt repayments act as soon as possible – leaving debt to its own devices will only mean your debt problem getting worse.

When debt has escalated action is imperative. Debt management is one option to help you get out of your debt problems. Debt Management is a simple process of negotiation, where your debts are discussed with your creditors. They may freeze the interest being charged or it may be reduced, they might even write off large parts of the debt.

For free debt advice get in touch with us at IVA Debt Problem for a full explanation of all the options available dependent upon your circumstances.

Categories: Debt, Economy