Roy Keane’s supposed philosophy in relation to football at least was neatly summarised in the catchy phrase: ‘Fail to prepare, prepare to fail’. People talk these days about what they call ‘unsustainable debt’ usually referring to the national debt of countries such as Ireland or Greece but sometimes in the context of personal debt. Continue reading
Personal Debt
Personal Debt Articles
Help with Debt
Personal debt problems are a worry for many people today. If you feel that your finances are out of control you are more prone to suffer from stress which can lead to bad health. Continue reading
Debt after Christmas
Even if we didn’t overspend at Christmas, it somehow feels as if we did. Spending just seems to expand so as to consume all available cash and then some. It doesn’t seem to matter if we are paid weekly or monthly, Christmas just seems to be like a good vacuum cleaner, sucking up every spare penny. Continue reading
Priority Debts
Some debts we must pay. No matter what our financial circumstances we must give priority to food and shelter. We must eat and drink, have somewhere to live and have clothing, heat and light. After that, all our debts have a lower priority. Continue reading
Doing an IVA from abroad
A question that we are asked regularly is if someone who has debts in the UK and lives outside of the UK, can they do an IVA in the legal jurisdiction of the UK while still continuing to live abroad. The short answer to this question is ‘YES, but…!’ Continue reading
Can I Do an IVA with no money?
If you are insolvent and have no assets and/or no disposable income can you still do an IVA or to put the question a little differently, is there any chance that creditors will accept your proposal for an IVA if you have no money? Incredible as it may seem, the answer is yes, provided you can ‘bring something to the table’. First, let us look at the ‘normal’ scenario in which an insolvent debtor goes forward with an IVA. Continue reading
Improving your credit rating
Who Keeps Credit Scores?
In the UK there are three main Credit Reference Agencies which get their information from lenders with the permission of the borrowers who, when they sign up to a loan agreement, consent to this type of information being disclosed. Of course, if consent is withheld, the lender may not pass on details of the borrower’s agreement. Continue reading
Dealing with Bad Credit
You begin to get a bad credit rating when you fail to repay borrowings in accordance with the agreed terms and conditions. If you don’t make your repayments on full and on time, the price you pay is deterioration of your credit worthiness or to put it another way you acquire a reputation for ‘bad credit’. Continue reading
Debt Solutions in the UK
If you live in England, Wales or Northern Ireland and are trying to deal with your personal debt, it is worth considering the various remedies that may be available to you. Continue reading
Debt Management or IVA
When personal insolvency is staring you in the face, the decision as to which solution to go for is a major one. Even after taking the best advice available, it still boils down to your own personal choice in the end. Continue reading