Archive | debt

Loans and Lenders Con Tricks

Even the most trusted banks and finance companies have tricks up their sleeves when it comes to loans. Here are a number of them but if you have been caught in some other way please let us know. Sharp but Commercial Practice Minimum repayments are designed to repay the interest plus a small amount of […]

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Good Debt versus Bad Debt

Think before you take on any debt! Good versus bad debt may be worse than no debt. Financial confusion can be created by the very people who should be helping you. Forgive me for starting with obvious definitions. Debt An amount of money or value due from one person to another. Debtor The person who […]

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Check Your Mortgage Statement

You have only to read the letters pages in business supplements of the newspapers. Many carry requests for help to obtain redress for computer errors, lost documents and over charges. At least these letter writers know there is an issue or problem. If you do not check your mortgage statement you may never know if […]

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Your Own Mortgage Audit

This is a simple three step process to protect yourself and family. Audit or check out your options given any likely events impacting on your ability to pay your mortgage. 1. At the first sign that cash for mortgage repayments is getting tight prepare a contingency plan. 2. Check what benefits you may be or […]

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Do Not Panic If You Are In Debt

Debt can be very worrying and lead to health problems. You can get out of the fix no matter how bad you think the debt problem seems to be and below are a few ideas. The first steps are not to panic and not to ignore the problem. Avoiding Panic not Avoiding The Problem Gather […]

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8 Simple Steps to getting out of Debt

This is an update of an article I published several years ago. Debt is still a problem area and it is worth trying these easy steps to help overcome the worst of the consequences. 1. Don’t Panic If you find yourself in debt, don’t let it dominate your life and thoughts. The best way to […]

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Credit Crunch Explained

The credit crunch refers to a sudden shortage of funds for lending, leading to a resulting decline in loans available. A Credit Crunch can occur for various reasons: Sudden increase in interest rates (e.g. in 1992, UK government increased rates to 15) Direct money controls by the government (rarely used by Western Government’s these days) […]

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UK Personal Debt

June 2011 Update Total UK personal debt at the end of April 2011 stood at £1,452bn. Of this sum £1,240bn was secured on property making the mortgage market the backbone of or personal credit. The growth in debt over the last year remained unchanged at 0.8%. Individual debt nearly totals as much as the entire […]

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How to Avoid Unnecessary debts

Unnecessary debts can cause serious financial problems and needlessly create uncertainties in the economy. Ways to avoid unnecessary debts: Keep a track of Your Spending. If you have a habit of purchasing too much on credit and store cards, do without them for a while. Credit cards can be a very easy way to spend […]

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Debt Reduction Options

If you are facing a mountain of debt, there are several things that you can do to try and reduce your debt problems Don’t Panic. Do you remember why the Hitch Hiker’s Guide to the Galaxy is the most popular book in the galaxy – because it has the reassuring words ‘Don’t panic’ written in […]

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