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Arguably most debt is unnecessary and should be avoided. However, life isn’t quite that simple and it’s difficult to differentiate between a debt which is necessary and one which isn’t.
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There are various companies/professionals that offer ‘debt advice’ in this country. Since the very well documented credit crunch many people have sought such advice.
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My mother in law has always been terrible with money and owes somewhere between £30,000 - £60,000 to various credit card companies. I don’t think even she knows how much she owes. She hides statements from the rest of her family, paying the minimum amount when she can and when she can’t - paying nothing […]

The first step towards successful debt management is admitting to yourself that you are in fact in debt.
Debt is debt; it doesn’t matter whether it is £10 or £1000 - it’s money that you owe to someone and you’re trying to pay it back.
Of course, our biggest debts are usually our mortgages, but we […]

My eldest daughter’s boyfriend asked me for a chat this week. He said that he couldn’t really talk to his mum or dad and all his mates his own age didn’t really understand what he was going through.
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Whether a person gets the right debt solution will depend heavily upon their own level of knowledge and general intelligence. There is a tendency to want to believe the first answer you hear as debt problems can be so overwhelming.
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Do you qualify? Your debt needs to be at least £15,000 and you need to provide proof that you are in a position to make minimum repayments of at least £200/month.

You will need to find an insolvency practitioner, your local Citizen’s Advice Bureau is probably a good place to start, both for good initial […]

what is an IVA?
An IVA (Individual Voluntary Arrangement) is drawn up by an Insolvency Practitioner. It is an agreement to pay a set amount each month and usually lasts for 5 years. The interest on the debt is frozen and if the debtor keeps to the agreement, the debt will be cleared after […]

With debt in Britain rising to incredible levels many families are suffering extreme distress as a result. Many people feel embarrassed and too ashamed to discuss the problem with their partner and allow the problem to escalate.
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Although you will have to change your Lifestyle during an IVA. Don’t think that just because you are in the midst of an IVA doesn’t mean you have to miss out on a yearly holiday.
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