Hi.
Normally the financial institution(s) who you’ve had financial difficulties with will give you up to 6 months to get everything back on track.
If after this period things are still no better then the debt is passed over to a credit collection agency. You may already know some of them e.g. Blair, Oliver & Scott or Career Development Finance.
I have found [...]
As you may remember in my last blog I’d just dispensed with the services of a debt management company.
The first thing I did was contact each of the creditors and provide them with an up to date copy of my income/expenditure plan and a covering letter which included my offer of payment. The payments offered were [...]
I found being in debt so confusing and scary!
Not knowing what to do i fell into the trap of contacting a debt management company I’d seen on television.
They sounded knowledgeable and promised to reduce my monthly payments and save me dealing with all those nasty creditors.
GREAT!!
Or NOT as I found out!!!
Companies of this nature who advertise [...]
Just a quick note….
Start working on your budget to find out what you ‘re income and expenditure is. Please use this excellent Budget Planner which will help you work out where your money is going.
If you have any questions then please ask.
Alex Fyfe
Borrowing more money to get out of debt OR “out of the frying pan & into the fire”
Most people would advise that to borrow money to pay off debts is a bad idea and generally I would agree. However, If it’s possible to raise funds at a cheaper rate to replace existing borrowing, then this will mean lower interest rates mean more of [...]
To start with DON’T PANIC!!
In my opinion being in debt is when you cannot afford to make the minimum repayments on all your debts and still meet all your weekly/monthly outgoings.
No matter how bad your debts are or how bad you think they are there is always a way forward.
The main point is [...]
Hi
Ever been in debt??
In debt at the moment and worried that you’re in over your head??
Well I know it sounds easy to say but DON’T WORRY!!
Stop for a second and take a deep breath…….
I was in that same position six months ago and had no idea where to turn or what to do.
Over the next few [...]