How To Get Rid of Your (Post-Lockdown) Debt
Hopefully, spring 2021 will see the arrival of the post-pandemic “new normal” so many people have been craving for so long. Part of this new normal will, however, mean the withdrawal of COVID19-related financial support. It will also mean tackling (post-lockdown) debt. Here are some tips to help. Establish a realistic baseline Your baseline is […]
Get Ready For Repayment Hikes
Currently, interest rates are only a whisker above zero. This means that variable-interest-rate debts such as credit cards should be at close to maximum affordability. Barclaycard, however, has decided to increase its minimum repayments. Here’s a quick guide to what this means. The old rules versus the new rules Up until 25th January, borrowers paid […]
Understanding Company Voluntary Arrangements (CVA)
Company Voluntary Arrangements are essentially a “light-touch” form of business insolvency. They were introduced in 1986 and have been in regular use ever since. Currently, they are back in the spotlight as businesses of all sizes try to find a path forward. Here is what you need to know about them. The basics of CVAs […]
Financial Management In Tough Times
The skills needed to manage your money are essentially the same as they have always been. The difference is that the effect of any mistakes could be amplified by the general economic conditions. With that in mind, here is a quick run-down of the basics of financial management. Work out your priority payments Your priority […]
The March 2021 Budget and Debt/Taxes
With the medical effects of COVID19 being tamed, it was always odd-on that the March 2021 budget would be about taming its financial effects. Brexit also had to be a consideration, even if there was only tacit acknowledgement of the fact. That being so, it’s hardly a surprise that there’s little joy when it comes […]
Will Amigo Be The New Wonga?
Back in August 2018, payday lender Wonga announced that it had been forced into administration. The news brought tears to nobody’s eyes. It did, however, raise a lot of questions about the behaviour of the government and the regulators. Could Amigo turn into a case of history repeating itself? A tale of two payday lenders […]
Do You Need A Debt-Management Plan?
If you have debt, then you need a plan to manage it. You may benefit from having this formalised into an official debt-management plan. There are, however, advantages and disadvantages to this approach. Here is some guidance to help you decide if it’s right for you. The basics of debt-management plans A DMP plan is […]
Love and Money
Marriage is by no means dead, but it isn’t the standard social norm it used to be either. Many couples cohabit, either before or instead of marriage. Some marriages end in divorce (or legal separation) which can lead to joint debt. Some couples who are married choose to keep their finances largely separate. This means […]
Will Debt Be The Next Pandemic?
Hopefully, 2021 will be the year COVID19 itself is brought under control in one way or another. It is, however, difficult to see its economic consequences being resolved quickly. Then, of course, there is the matter of Brexit. Put the two together and it’s easy to see how some people could be pushed to the […]
The bailiffs are back
The bailiffs are back, or at least they will be very soon. Bailiffs can resume their tasks from 23rd August. If the thought of this is sending a shiver down your spine then now is the time to start taking action. Here are some tips. Work out your real-world financial position Your real-world financial position […]