Winter fuel fears
Over a fifth of UK residents are expressing concerns about falling into energy debt this winter, as highlighted by Citizens Advice Scotland. The charity\’s recent findings show that 22% of people, equating to around 360,000 individuals, are experiencing worry or anxiety about energy arrears. Notably, the average energy debt among those seeking complex debt advice […]
Reflecting on Debt and Insolvency in the UK: A 2023 Overview
Introduction The past year has been pivotal for the landscape of debt and insolvency in the UK. With the economy still rebounding from the effects of the pandemic and adjusting to new global challenges, 2023 witnessed significant developments in these areas. This article provides a comprehensive review of the trends, changes, and implications in the […]
Debt Assignment
You might be familiar with the phrase \”debt assignment\” in financial circles, but its implications are worth understanding. Debt assignment occurs when your original lender transfers the debt to a third party, who then assumes the responsibility for collecting the owed amount. It\’s not merely an administrative change; it\’s a significant shift that you need […]
Reasons We don\’t Set Budgets
Money management can seem a dull topic, but it’s an important one. In fact managing your money is crucial to being able to live the life you want, whatever that is. Here we look at the top 5 excuses for not setting a personal budget and show you how to tackle them. I don’t have […]
Navigating Financial Distress: A Comparative Look at IVAs and Bankruptcy in the UK
Dealing with overwhelming debt can be a stressful and challenging experience. In the UK, individuals facing such circumstances have options such as Individual Voluntary Arrangements (IVAs) and bankruptcy to find relief and a fresh start. Both IVAs and bankruptcy offer different paths to resolving debt issues. In this blog, we will delve into the differences […]
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 […]
What can you do if you can’t pay your debts
When you take on debt, you make a commitment. As long as you can fulfil that commitment, everyone is happy. If, however, you start to struggle to make that commitment, then neither you nor the lender are happy. Fortunately, there are many ways to resolve these situations and it’s in the lender’s best interest to […]
Should you be worried about negative equity
Negative equity is when the amount owed on a secured debt is more than the value of the asset on which it is secured. The term is generally associated with the property market although it can be used in other contexts. For homeowners, being in negative equity is generally an undesirable situation. It is, however, […]
How To Keep Calm When Dealing With Debt
It’s common knowledge that there’s a link between being in debt and having mental-health issues. That knowledge does not, however, necessarily make it any easier. The good news is that there are steps you can take to keep yourself calm while dealing with debt. Here are some tips to help. Decide if you need to […]
Beating The Cost Of Living Crisis
Rising inflation and economic uncertainty have left many people struggling to make ends meet. Necessity is, however, known for being the mother of invention. With that in mind, here are some tips for beating the cost of living crisis. Work on your budgeting skills You’re probably already familiar with the basics of household budgeting. You […]