Debt Help and Advice for the UK
At some time or another during our lives most of us will overspend and get into debt. Sometimes we can get our finances back on an even keel by cutting down on a few luxuries.
It's a fact that there is now much greater and easier access to credit than there ever has been before. What people often forget is that, once they use that credit, they have taken on a debt. British consumers now owe more than £1,004,290,000,000 on credit cards, mortgages and loans. Some 1,300 different credit cards are available compared with only one in 1971. The average credit card limit is £3,000 though some people have cards with limits of more than £10,000.
Paying off the full amount you owe on your credit card statement every month means you are staying out of debt. However, once you slip behind and start to leave something owing month after month, you are beginning to get into debt and taking the first steps that could lead to financial disaster.
Almost 12 million people in Britain have a mortgage. That is a loan to buy your own home or, in other words, a debt you owe. Of course few of us can do anything other than take on a mortgage if we want to own our own home and there is always the possibility of selling the property and repaying the money.
So having debts is not the problem. The problem is letting debts build up to a point where you can no longer keep up the repayments or taking on more debt than you can realistically afford in the first place.
Greg Penn
http://www.debtandyou.co.uk
Latest News
Togo qualifies for debt relief afrol News, Lesotho - afrol News, 2 December - Togo has been approved for debt relief under enhanced Heavily Indebted Poor Countries, after reaching a decision point under the ... |
Andhra pays for fiscal profligacy, may be denied debt relief Economic Times, India - In FY08, the state got a debt-relief of around Rs 1889 crore. “We have been attaining a revenue surplus despite huge allocations for revenue expenditure ... |
 PR Web (press release) | WEALTHY NATIONS, OTHERS BEHIND FINANCIAL CRISIS MUST TAKE ... 7thSpace Interactive (press release), NY - In introductory remarks, moderator Portugal said significant advances had been made since Monterrey, particularly on debt relief for the poorest countries. ... Amidst financial meltdown, Doha Conference gives developing ... ‘Recession must not lead to human crisis’ Press Statement From USAID Administrator, Henrietta H. Fore |
Know the Details of the Mortgage Forgiveness Debt Relief Act RisMedia.com (press release), CT - ... in December 2007, Congress stepped in to provide temporary relief in the form of forgiving this debt, but only for the 2007, 2008 and 2009 tax years. ... |
Govt to release Rs 21.43 cr for debt relief Express Buzz, India - THIRUVANANTHAPURAM: As per the recommendations of the Farmer’s Debt Relief Commission, the Government has disbursed Rs 14.11 crore so far, and it has been ... |
HIPC: Togo Gets Debt Relief THISDAY, Nigeria - The statement said that Togo would receive interim debt relief from certain creditors, but in order to qualify for irrevocable debt relief at the completion ... |
Home > News > World Bank Launches Facility to Prevent ... World Bank Group, DC - The Bank also called on donor countries to meet their debt relief commitments. “The debt relief provided by the World Bank and other creditors to heavily ... |
 CEP News | Citigroup to offer $5.5 billion in debt BusinessWeek - That cash will come from the government's $700 billion bank investment program aimed at providing relief for banks and spurring lending amid the economic ... FINANCIAL STOCKS Financials claw back some losses, Citi, banks rise |
Parliament warns govt against external debts Daily Monitor, Uganda - ... 100 per cent Uganda’s debt under the Highly Indebted Debt Relief initiatives and the 2006 Multilateral Debt Relief initiative less than five years ago. ... |
Goldman Faces Loss of $2 Billion for Quarter Wall Street Journal - Over the years, Goldman has invested in everything from troubled auto loans in Thailand to the debt of a liquor maker in South Korea to struggling golf ... |
Resources
-
Sorry there are no resources available at this time