Why Debt Awareness Should Be a Year-Round Conversation
Debt Awareness Week may have come and gone, but for the millions of people struggling with financial pressures, the conversation is far from over. While national campaigns do a great job of raising awareness, the reality is that debt doesn’t stick to a calendar. It’s something that affects people every single day, and that’s exactly […]
Understanding Debt Consolidation
Managing multiple debts can be overwhelming, but consolidating them into a single, more manageable payment may offer relief. Debt consolidation involves combining several debts into one, potentially with a lower interest rate or more favourable terms. This strategy can simplify your finances and reduce monthly payments, but it\’s essential to understand the available options and […]
Understanding a Scheme of Arrangement: A Comprehensive Guide
If your company is considering restructuring its debt while continuing to trade, you may find a scheme of arrangement to be a suitable option. This process is distinct from a company voluntary arrangement (CVA) and is governed by different legislation. It also stands apart from other debt resolution methods such as a creditors\’ voluntary liquidation […]
Scheme of Arrangement
A Scheme of Arrangement can be a lifeline for companies aiming to restructure debt whilst maintaining their trading activities. It\’s an alternative to a Company Voluntary Arrangement (CVA) and different from other debt solutions like a Creditors’ Voluntary Liquidation (CVL) or administration. A Scheme of Arrangement is a court-approved process under the Companies Act 2006, […]
Are you considering debt consolidation
Debt consolidation is essentially what the name suggests. It’s bringing all your debts into one place. As you would expect, there are advantages and disadvantages to this approach. Furthermore, if you do decide to go down this path, getting the best out of it requires you to use the right approach for your situation. Here […]
How To Work On Reducing Your Debts In 2023
If you’re carrying debts, particularly high-interest debts, you should try to make it a priority to reduce them. Ideally, you should eliminate them, at least the high-interest debts. This may be particularly important in 2023 as interest rates may trend upwards. Here are some tips to help. Set out what you actually owe Go through […]
Is Debt Consolidation The Right Move For You?
Interest rates look to be on a clear upward trajectory. It, therefore, makes sense to ensure that you’re managing any debts you have as effectively as possible. Debt consolidation may be a way to achieve this but only if it’s done the right way. With that in mind, here are some points to consider if […]
The Basics of Debt Consolidation Loans
If you have debt you want to pay it off as affordably as possible. It can, however, be complicated to work out how to do this. Here is some guidance to help. The two basic strategies for paying off debt. There are really only two basic strategies for paying off debt. The first is to […]
What you need to know about consolidating debt
Given everything going on right now, it’s hardly a surprise that many people in the UK are looking at their debt situation and thinking about how to manage it. Debt consolidation may be an option for some people. It is, however, important to think about the situation carefully before you decide whether or not to […]
Can getting a loan solve your debt issues?
Debt consolidation is a bit of a tricky topic. On the one hand, it can often be associated with the likes of the late, unlamented Wonga, which provided a means to pay off one set of debts by taking on one single debt, albeit often at a more expensive rate. On the other hand, done […]