Your personal finance questions answered
Handling finances can be tricky at the best of times, but when life throws those extra obstacles in our way, financial circumstances can sometimes get a little harder to handle.
To help you, we’ve put together this personal finance section that offers some great advice on a range of financial situations from dealing with council tax arrears to handling debts as a single parent…
Making late payments on bills or missing them altogether can really play havoc on your credit score. In fact, having a bad credit rating can be a real hindrance when you’re trying to get on with your life. Read more.
Debt – it seems to be a prevalent part of modern life for many people around the UK right now – and trying to survive without a credit card, a mortgage or even a small loan now and again is impossible for many. Here are 5 signs that could indicate that you need additional help with your debts…Read more.
We don’t want to be the bearer of bad news, but… no. If you stop paying your debts, they will not get written off. If you do not repay your debts, lenders could take you to court to repay what you owe, pass your debts onto a debt collection agency or… Read more.
Lenders contact their customers when they are owed money, so if you have missed a payment, lenders will often call or write to you to find out why the bill hasn’t been paid… Read more.
Borrowing on hire purchase (HP) has different rules attached to it from other types of borrowing, such as taking out an unsecured loan or using a credit card… Read more.
Receiving a CCJ can be frightening – especially if you don’t understand what it means or what you have to do next. Find out what you should do if you receive a County Court Judgement… Read more.
Are you worried about spiralling debts? Are you so concerned that you cannot talk to anyone, even your family?… Read more.
If you’ve taken out a payday loan, you’ll realise that payday loan companies don’t arrange repayments via direct debits like most other lenders; they arrange repayments via Continuous Payment Authority (CPA)… Read more.
Being off work due to illness is a stressful experience – especially if your sick pay allowance is being reduced and you’re worried about paying the bills. Unfortunately, lenders will still expect to be paid so the best thing to do is manage your situation as best as you can… Read more.
When you took your wedding vows you may well have declared ‘for richer, for poorer…’ but that was before you realised the extent of the debt that your spouse had run up. Many people hide the true extent of their financial problems from their partner for fear of recriminations but if…Read more.
Raising a family on your own has its rewards but it isn’t easy, especially when it comes to managing finances. With no second income to help out when times are tough, many single parents are faced with an endless cycle of juggling their working lives around the needs of their children… Read more.
Though the coalition government’s welfare reform is in full swing, to suggest it is gaining unanimously positive feedback would be far from correct. Almost all proposed changes have met with consternation and one reform in particular has divided opinion: the so-called ‘bedroom tax’ for those in social housing and those who are reliant upon housing benefit… Read more.
Are you looking to lower your gas and electric bills? Do you want to do your bit for the environment? Here are some handy tips that will help to decrease your energy consumption and do both at the same time — put some money back in your pocket and help the planet… Read more.
It always feels better to have a bit of money in the bank as an emergency fund, even if you have a long list of debts you are repaying every month. However, with interest rates on savings currently so low, does it make sense to pour any spare money into the… Read more.
If you are struggling to stretch your pay packet far enough to meet your monthly outgoings, the idea of consolidating your debts and benefiting from a lower repayment may seem very attractive. But is debt consolidation loan ever a good way to manage your finances?…Read more.
Current council tax arrears and payments cannot be included in a Debt Management Plan, however if you have council tax arrears from a previous year or a previous address, then these could be included in a Debt Management Plan… Read more.
You may have heard about lenders – such as mortgage providers – offering their customers a payment break, so it’s only natural to wonder if you can do the same while on a Debt Management Plan…Read more.
With the current state of the housing market and the economic difficulties making it more expensive than ever to move out of home, more and more adult children are opting to live with their parents until much later in life… Read more.
If you are struggling to pay your debts, you may be worrying about what possible action could be taken against you. Rogue or irresponsible lenders can sometimes imply that they have greater powers than they do, leaving you fearing the potential outcome. So it’s a good idea to understand what your rights… Read more.
Moving house usually involves writing a long list of all the parties you need to inform. For most people, the task is a drag but for anyone with debts, it can come with added hassle. So, is there anything to stop you simply moving house without telling your lenders? Read more.
It’s never nice having to constantly struggle to find enough money to pay the bills and it can be tempting to simply stop paying your debts to make life a bit easier. But what is the worst that could happen if you don’t pay your debts? Read more.
If you are struggling with your finances, it can be a worrying time and there may seem to be no end to the cycle of debt. Fortunately, however, there are ways that you can start to take control. The following tips should help…Read more.
Insolvency basically means that you are unable to make repayments towards your debts.
If you’re really struggling with your debts, and can’t afford to repay your lenders, then you could resolve your debt problems with a Debt Relief Order or Bankruptcy…Read more.
Families are finding it especially hard during the recession as there are so many child related expenses to meet. With childcare costs, food and transport all increasing, families are having to cut down on luxury items…Read more.
It’s a fact that the costs of going on to further education are spiralling and this is a concern for many families with teenage children. With the rules relating to educational finance changing so often it can be difficult to know where you stand…Read more.
Car insurance is an area where you can make huge savings by spending a little time shopping around. Here are some tips to help reduce your motor insurance costs…Read more.
There are so many mortgages on the market nowadays that it can be difficult to decide the right one for you. Here are some details of the basic differences…Read more.
Payday loans are becoming increasingly popular. You may have heard them referred to by other names, such as cash loans, payday advances, fast cash, deferred deposit and bad credit loans. Basically, they are a short-term loan, which is intended to tide you over until your next payday…Read more.
It seems that pensions are constantly in the news causing concern for many of us about how we can provide for our old age. However, there are steps that you can take, which could maximise the amount that you receive on retirement…Read more.
You don’t have enough cash to buy that new pair of shoes which have been calling out your name from the shop window all week…but you could always take out a store card. You would get 10% off the price and it’s not as if a store card is a credit card, right?…Read more.
It can be confusing applying for a loan since they are referred to by so many different names. The definitions below should help to explain the main types:…Read more.
It’s not cheap to run a car these days, but for many families, a car offers a lifeline when it comes to juggling the commute, school run, shopping and evening activities. There are some simple steps you can take to make car ownership a bit easier on your wallet and implementing even just a few of these suggestions could really make a difference over the course of the year…Read more.
The idea of using negative interest rates to help boost the UK’s flailing economy was floated by Paul Tucker, the Deputy Governor of the Bank of England, to the Government’s Treasury Committee. But how would this work and what impact would it have on the finances of ordinary people and families?…Read more
With so many well-known businesses collapsing under the strain of our struggling economy over the last few years, many people have found themselves out of work, working fewer hours, or feeling very concerned about the safety of their job… Read more.
It’s common sense, isn’t it? With the risk of something being lost or stolen, a flight cancelled, contracting a strange illness or the dreaded lost passport, so much can go wrong that surely it’s always worth taking out travel insurance to protect that perfect holiday… Read more.
Many people speak of being on a credit ‘blacklist’, meaning that your name is down on a list somewhere with a big red cross next to it – a list that lenders look to when they are deciding whether or not to lend someone money. The reality is actually very far from this… Read more.
Organising a wedding can be an expensive and time-consuming business. It often takes months or even years to plan, so there’s always the possibility that something could go wrong before the big day… Read more.
The government has started implementing a series of planned cuts to the welfare budget, which cover a range of different benefits. How you are affected by these changes will depend on your age and which benefits you’re currently in receipt of… Read more.
With the rate of inflation up again in June, how are these price increases affecting household finances? More consumers are facing increased prices and stagnant wages, which is leading to financial difficulties… Read more.
With around 450 credit unions operating in the UK, it’s likely that there’s one local to you. They provide an alternative means of saving and borrowing money to traditional high-street banks… Read more.
You’ve left home, started university and are now in charge of your own finances. This might seem to be great news, but it means you have to become more mature and learn how to control a budget… Read more.
If you’ve been a customer of a payday loan lender and you feel you might have a case for compensation, how do you find out if you qualify and make a complaint?… Read more.
Nobody likes to think about getting old or dying, but it’s important that you plan adequately for the future. Taking out life insurance can be of benefit to some people and provide a secure future for their family… Read more.
When insurers are calculating the cost of house insurance premiums, they consider a number of factors. These include your location, the type of property and your previous claims history… Read more.
Students today have a wealth of gadgets to their name, all of which would cost a substantial amount to replace. Is it worth investing in a specific student policy or would your own house insurance cover them?.. Read more.
Some people have then gone on to have problems when they apply for additional loans or mortgages – even if they have repaid the payday loan on time and in full, so why is this?.. Read more.
There has been a great deal of discussion recently about the government’s Help to Buy scheme. As this is available in two different elements, home buyers can get confused over which part applies to them… Read more.
Switching bank accounts could be beneficial, but it’s not something that many consumers consider doing. It’s now a much more straightforward process. However, if you’ve got debts with your current bank, what options are available to you?.. Read more.
Most of us have been guilty of throwing away useable food at some point. However, across the country this is now becoming a major issue, with around 4.2 million tonnes of food thrown away by households every year. What could you do to reduce your food waste?.. Read more.
At the start of the year, the government introduced changes to Child Benefit for higher earners. This meant that many more parents now have to complete self-assessment tax returns. The deadline for registering for self-assessment has now passed. If you missed the deadline, what can you do to minimise any penalties?.. Read more.
Recent research conducted by M&S Bank found that nearly one third of consumers rely on their overdraft. Worryingly, though, around 25% didn’t know how much they were being charged for using it. Here’s a guide to the cheapest overdrafts available at the moment to help you make that all-important decision… Read more.
Financial problems can make life extremely stressful, especially if you’re worried about the impact they might have on your employment… Read more.
If you have accumulated debts in another country, you may be worried about whether this could have an effect on your life in the UK… Read more.
There has been a great deal of talk recently about auto-enrolment and workplace pensions. Within the next few years this will affect the majority of workers, so it’s important you understand exactly what is involved… Read more.
What options are available to you if you need to clear rent arrears? Read more.
Often partners decide to take out a joint Debt Management Plan to try and resolve their financial problems. However, if the relationship then breaks down, what happens to the plan? Read more.
New regulations have come into force for lenders that mean homebuyers will now face tougher questioning and background checks to ensure their suitability for a loan… Read more.
There are lots of ways that you can save money through the internet on a range of activities and essential services. So rather than paying over the odds, check out some of the great deals you can find online… Read more.
According to the Department of Energy and Climate Change, the average annual household bill for electricity and gas is £1,426… Read more.
With the weather making it more difficult to get out and about, what can those with children do to keep their little ones amused all day? Read more.
As the cost of living continues to rise faster than the rate of inflation, we have had to become a nation of savvy shoppers… Read more.