‘Debt’ News
Budgeting Assists in Gaining Control Over Finances
Posted 2008-01-10
With Credit Action estimating that the total UK debt is £1,400 billion, many UK residents are urged to make a twelve-month budget to assist in sorting out their financial situation. The Consumer Credit Counselling Service (CCCS), recommends determining one’s budget by looking at quarterly bills, car insurance payments, and other monetary outgoings, setting an annual budget, and then dividing that by twelve. CCCS spokesperson, Frances Walker, explained that setting a budget and looking into income maximization can assist many individuals and families. She warns, however, that if 20% of your income is going towards monthly repayments, you are stretching yourself too thin. If this is the case, one beneficial option may be debt consolidation. ...
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Signs of Interest Issues Abound
Posted 2008-01-3
Are you peering out from behind the curtain, fearing the arrival of the postman? If so, you are not the only one. A recent USwitch study reported that 25% of 16-44 year olds were sweating the arrival of their January...
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Bankruptcy Rates to Increase
Posted 2008-01-2
KPMG estimates that 130,000 people will declare bankruptcy as a result of overspending during the holidays, increasing mortgage payments, and unmanageable credit card bills. This figure is 20,000 higher than 2007, which saw approximately 110,000 people declare bankruptcy. The...