Debt Help and Advice for the UK


At some time or another during our lives most of us will overspend and get into debt. Sometimes we can get our finances back on an even keel by cutting down on a few luxuries.

It's a fact that there is now much greater and easier access to credit than there ever has been before. What people often forget is that, once they use that credit, they have taken on a debt. British consumers now owe more than £1,004,290,000,000 on credit cards, mortgages and loans. Some 1,300 different credit cards are available compared with only one in 1971. The average credit card limit is £3,000 though some people have cards with limits of more than £10,000.

Paying off the full amount you owe on your credit card statement every month means you are staying out of debt. However, once you slip behind and start to leave something owing month after month, you are beginning to get into debt and taking the first steps that could lead to financial disaster.

Almost 12 million people in Britain have a mortgage. That is a loan to buy your own home or, in other words, a debt you owe. Of course few of us can do anything other than take on a mortgage if we want to own our own home and there is always the possibility of selling the property and repaying the money.

So having debts is not the problem. The problem is letting debts build up to a point where you can no longer keep up the repayments or taking on more debt than you can realistically afford in the first place.

Greg Penn
http://www.debtandyou.co.uk

More Resources

Unable to open RSS Feed $XMLfilename with error HTTP ERROR: 404, exiting

More Debt Relief Information:

Related Articles

Learn The 15 Debt Elimination Steps You Must Take Immediately!
What Everybody Needs To Know..
Learn How to Get out of Debt
Debt is becoming number one problem in the United States Today. The average American family has at least $8,000 in credit card debt and most college students who just graduate from college have $3,000 to $5,000 credit card debt in their first year after college.
Whatever You Do....Dont Save Money!
No, that's not a misprint. Even though falling interest rates are good when you want to get a loan, they are bad for people with savings accounts.
Life After Debt - Strategies for Dealing with Problem Debt
Honorably and ethically rid yourself of burdensome debts using the little known Negotiation Strategy, without having to experience the loss of control and privacy associated with filing for bankruptcy, consolidation, or credit counseling.The inability to reduce debt and saving money are the two biggest obstacles preventing Americans from living financially sound lives.
Can You Escape the Trap of Ever Growing Debt?
It's difficult not to be concerned when facing numbers like these:43% of U.S.
Five Major Ways to Save Money
There are two main roads to improving your personal finances: increasing income, and cutting costs.Increasing income is the harder road to travel.
Debt Elimination Is The Key to Financial Freedom
If you want financial freedom, the first thing that you will need to do is to get rid of your debts. After all, as long as you owe money, you can't consider yourself to be financially free.
Personal Bankruptcy - If Its Unavoidable, File Now
The Bankruptcy Abuse and Consumer Protection Act, signed into law by President Bush last April, promises changes to Federal bankruptcy law that have been long sought by the lending industry. The bill promises sweeping changes to Federal law, and will make it much harder for the average consumer in financial trouble to have their debts wiped out by filing for bankruptcy.
Bankruptcy - The Easy Option?
Incredibly, since the changes in the bankruptcy law in April 2004, debtors are more likely to petition for their own bankruptcy rather than their creditors! You would think that most people who have been threatened with the prospect of being made Bankrupt would be riddled with fear of the possibility. It is more widely referred to as the "Big B" rather than the dreaded word itself.
How to Get Money When You Are Broke
(Money You Don't Have to Pay Back) 1. One way to get money is to have a yard sale and sell itemsthat you are getting ready to toss away because you don't wantthem any longer.
Repair Bad Credit Yourself
In March 2005, the U.S.
Dealing with Thingitis
Debt is quickly becoming an epidemic in America. However, through the past 50 years, America has not seen such large domestic growth.
Debt Validation: Do you have to pay ?
It happens all the time. Debt collectors try to collect on debts that consumers have no knowledge of or never owed in the first place.
Pay Off Your Student Loans and Reduce Your Debts
Financing a college education is one of the more expensive debts you may incur. Student loans can take years or even decades to pay off.
Utah, the Nation's Bankruptcy Capital
Congress recently passed the Bankruptcy Abuse Prevention and Consumer Protection Act, designed to minimize frivolous bankruptcy filings and to require debtors to repay some of their debt. Once it takes effect in October, 2005, the law will make it harder for those with problem debt to have their debt wiped away by the courts.
Your Ticket Out of Debt Relief
If you are in debt over your head and wondering if you will ever find a way out, the answer is yes! Serious financial problems can make life miserable and cause a great deal of stress and worry. Many people have found themselves in the situation of avoiding calls from creditors and wondering how they will ever get out of debt.
The 5 Secrets to Getting Out of Debt Fast
As they stare down at a teetering pile of bills, so many consumers wonder how they racked up such a large debt. The answer boils down to simple mathematics.
Budgeting and Debt Management
Debt management (specifically unsecured) is the first step to taking control of your money! Add a household budgeting plan and you've got a powerful tool for money management.Together, budgeting and debt management build financial security and independence.
How to Reduce Your Debt in 5 Easy Steps
If you have incurred substantial personal debt, consider these options: budgeting, debt consolidation, credit counselling from a reputable organization and working with your creditors. You will need to choose a debt reduction method that will work best for you? The method you use will depend on your level of debt, how much spare money you have, your level of discipline, and how quickly you want to get out of debt.
Christian Debt Consolidation - Feel Comfortable About Managing Your Debt
Many Christians feel uncomfortable with the notion of being in debt, and even more so when the debt has gotten out of control. Some say that it is not acceptable for Christians to owe any money, even for such necessities as a home.