Articles related to "Consumer Credit Counselling Service"

Before applying for an Individual Voluntary Arrangement (IVA), people with high levels of personal debt should first consider its advantages and disadvantages.

Credit Unions or independent financial advice may be a viable alternative to a high interest doorstep loan for people without access to more traditional credit sources.

Secured loans are only available to borrowers who pledge an asset, more often to those who own a property or hold a mortgage on a property, but it can be another asset.

Credit Action, an independent UK money education charity, has said that: "UK personal debt at the end of December 2008 stood at £1,457bn, an increase of £50bn."

In a climate of increasing personal debt levels more people than ever have been turning to debt advice or debt consolidation companies for help.

Research undertaken by Warwick University has shown that many credit card customers are almost compelled to pay only the minimum payment on their credit card bills.

People get into debt for a number of reasons. It might be due to illness or redundancy, which has subsequently led to missing payments on mortgages and credit cards.

Financial problems can be both stressful and worrying, but a free consumer credit counselling service can help greatly. Find out where to get free debt advice.

In a recent statement by the UK Ministry of Justice, debt management businesses have been warned not to use misleading advertising to make dubious claims.

Martin Lewis is without doubt one of the UKs best known financial journalists. With a refreshing no nonsense style, his advice on debt matters is much sought after.

For people struggling to keep pace with a deteriorating financial situation the temptation to apply for a personal loan of last resort can be irresistible.

A secured loan is often considered when a person needs debt consolidation, a holiday or other purchase but remember the loan gives security to the lender not the borrower

Credit card debt help comes in the form of improved budgeting or a debt solution. There are even ways to write-off credit card debt under the Consumer Credit Act 1974.

A debit card is a way of managing household bills and avoiding credit card debt. Debit cards help avoid high APR debt and credit card charges, such as cash advance fees.

Since April 2009, Debt Relief Orders, a new form of financial help, are available to those people with personal debts of no more than £15,000.

Insolvencies in England and Wales have risen to their highest level since records began nearly five decades ago, said the UK Insolvency Service.

Figures from the UK Insolvency Service show, for 2008, personal insolvencies in England and Wales rising to 67,428, an increase of 4.6% on the same period in 2007.

Consumers applying for a 0% balance transfer credit card should, before using it, ask if the company if it operates a negative hierarchy interest payment regime.

Figures from the Accountant in Bankruptcy show an increase in bankruptcies in Scotland. In the first quarter of 2009 they have risen by 71% on the same period last year.

The bankruptcy in Scotland process, which can be instigated by either a creditor or the debtor, is administered by the Accountant in Bankruptcy.

Credit Action is a national money education charity, which works in partnership with the major debt counselling charity the Consumer Credit Counselling Service (CCCS).

Debt collection agency harassment occurs when a borrower falls behind with monthly repayments. Find out how to tackle financial difficulties and personal debt.

For those with a poor credit score, consulting a credit repair agency may be tempting but there is nothing the agencies can do, that they can't do themselves.

Credit card debt is in part a result of rising household bills and living costs. However, it is also a high APR personal debt exacerbated by minimum monthly payments.

Living with debt can cause depression, particularly if the debtor does not tell anyone. The first steps to finding debt help can be overwhelming and frightening.

An English county council has recently warned families that payday loans, which can rack up interest rates close to 10,000%, are no answer to the credit crunch.

During the current credit crunch, banks and other lenders are taking a harder look at credit applications; consequently more consumers are now being refused credit.

In May 2008 Credit Action a leading UK money charity warned of inappropriate and sometimes illegal payday and logbook loan advertising on some social networking sites.

Personal debt damages family life. Poor money management skills, gambling debt, medical expenses and getting divorced can cause long term financial difficulties.