In a move welcomed by many homeowners and prospective home buyers in the UK, the Financial Services Authority has backed away from proposed requirements that many feared would negatively impact the ability of many Britons to obtain mortgages. The FSA’s plans as originally proposed could have eliminated interest-only mortgages completely and would also have made [...]
‘Debt’ Category
FSA Revises Plans to Limit Mortgage Availability
Posted in Debt, Mortgages & Property on Tuesday, December 20th, 2011 at 12:02 by Martyn Shaw.
Balancing Debt Retirement with Saving
Posted in Debt, General, Money Saving on Wednesday, September 29th, 2010 at 10:27 by Martyn Shaw.
As households continue to recover from the effects of the recession, there is often the question of how to go about becoming more financially stable. Some believe that paying off debt as soon as possible is the best approach. Others place emphasis on creating savings, pensions, and other financial nest eggs. The truth is that pursuing both goals concurrently will produce the best results.
Keeping Your Financial Momentum in a Sluggish Economy
Posted in Debt, General, Money Saving on Monday, September 27th, 2010 at 09:52 by Jessica Haynes.
Concerns that a combination of government cutbacks and slow growth the economy have some analysts speculating that the United Kingdom may experience another round of recession as soon as next year. For those who weathered the last difficult period and have begun to recover, the prospect is particularly unappealing. Fortunately, there are ways to prepare and at least minimise the difficulty if the worst does come to pass.
Ways to Improve Your Credit Rating
Posted in Debt, General, Loans on Friday, September 24th, 2010 at 10:24 by Jessica Haynes.
Many consumers have welcomed news that the government is implementing a new lending option to aid households with sup-par credit or low income to obtain loans at equitable rates. While the programme will help many people, it should not replace the necessity of doing what one can to improve low credit ratings. Here are a couple of steps that will help.
Dealing With Overwhelming Debt
Posted in Credit Crunch, Debt, General on Thursday, August 12th, 2010 at 10:40 by Martyn Shaw.
While some households have been able to recover financially from the ill effects of the recession, others are still floundering in spite of their best efforts to trim expenses and pay off back debt. If you are in this situation, there are several options to consider.
How to Make Ends Meet
Posted in Banking, Debt, General, Money Saving on Tuesday, March 16th, 2010 at 11:27 by Martyn Shaw.
According to the Consumer Credit Counselling Service, the number of people having difficulty meeting all their monthly expenses rose considerably in 2009 over the figures from 2008. Even for those who made their way through the worst of the recession, the task of managing to cover basic living expenses with available income seems an insurmountable task. If you find yourself in this position each month, there are a few things you can try to balance that monthly budget.
Safeguarding Against a Job Loss
Posted in Credit Cards, Debt, General, Money Saving, Utilities on Tuesday, February 16th, 2010 at 13:29 by Jessica Haynes.
A report recently released by KPMG and the Chartered institute of Personnel and Development indicates that the current stabilisation of employment may be nothing more than a temporary lull. For people who’ve managed to hold on to their jobs over the last couple of years, this means that there is still some chance of being made redundant sometime over the next year or so. With that possibility in mind, now is the time to arrange your finances so you can cope with the job loss if it should come to pass.
Paying Off Your Holiday Debt
Posted in Debt, General, Money Saving on Tuesday, December 29th, 2009 at 11:14 by Martyn Shaw.
According to information released by insolvency trade body R3, roughly ten percent of consumers are still paying off debt they acquired as part of holiday spending in December 2008. Many of these same consumers acquired more debt this holiday season, creating additional stress on household budgets. If you are among those who made use of credit cards to fund your gift-giving efforts, here are some tips on how to begin eliminating that debt.
Are Text Message Loans Worth It?
Posted in Debt, General on Friday, November 27th, 2009 at 11:34 by Jessica Haynes.
Text message loans have received a lot of attention recently. Considered a state of the art version of the payday loan, the text message loan allows consumers to obtain a small loan in a matter of minutes. If approved, the funds are deposited quickly into bank accounts, making them ideal for unanticipated emergencies.
Are Your Credit Card Balances Out Of Control?
Posted in Credit Cards, Credit Crunch, Debt, General on Thursday, September 17th, 2009 at 09:21 by Martyn Shaw.
One of the outcomes of the recession is that many people who had no trouble keeping up with their credit card balances suddenly found themselves unable to manage them effectively. This was sometimes due to changes in interest rates, or because of the loss of employment and the subsequent drop in monthly income. Even with the recession waning, some households are still having problems managing their credit card debt. Here are some tips on how to improve your situation.
