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Debt AdviceGet your finances back on track - Debt AdviceUK Debt Rises and Rises Over the past 20 years outstanding debt has risen dramatically. Total UK personal debt had passed the £1 trillion mark in July 2004 and reached over £1.1 trillion in the middle of 2005. By April 2007 it was in excess of £1.3 trillion and has continued to grow into 2008 despite fears oe recession. UK average household debt is approximately £7,520 - excluding mortgages, and £43,207 including mortgages. This debt includes more than £56 billion on credit cards - around £1,140 per card-holder. More than one in ten have problems meeting their credit card debt repayments. About Debt Consolidation Loans Over Extended Credit Unlike our grandparents' generation who were generally reluctant to borrow, buying today instead of having to put it off until tomorrow has become an accepted feature of our society. However, it is easy to become financially over-extended with credit cards, mortgages, car loans, overdrafts, unexpected bills and changes in personal circumstances - illness, birth of a child, an accident, business failure or unemployment. A recent survey revealed it only takes a 10 % drop in income to change what was a manageable credit commitment into a debt problem. The key to all debt problems is prompt action, act now before things get worse Enquire now - Call our loan helpline free on 0800 458 5587 Signs that you may need debt help
Prioritising your debts is the first step. Priority debtsPriority debts are those that require the most urgent attention - non
payment can result in you losing your home or essential services : Mortgage Arrears - not making your mortgage payments puts your home at risk. The mortgage provider will contact you, usually by phone and then in writing, to warn you of the consequences of non payment. They will then refer the case to lawyers and eventually issue a court summons. The longer you leave it the more the arrears and the problem builds. If you decide to consolidate the arrears can be incorporated into the loan and make your monthly repayments more affordable. Council Tax Arrears - if you don't pay your council
tax, the council will apply for a 'liability order' in the courts. They
can then use bailiffs to get the money from you. This can be by removing
items of value from you, or by deducting money from your wages or benefits. If you don't act quickly some creditors are able by law to: Repossess your home or business premises, or evict you from rental
properties County Court Judgements Court action can lead to a CCJ being registered against you. This will go on file and subsequently affect your credit rating. Bailiffs can be used to enforce payment of CCJs. Non-priority debtsNon-priority debts include: Work out your budgetCalculate how much money is available to you each month - all income from you and your spouse, any contributions from any adult living with you, benefits, overtime ( if regular) Now list your monthly spending. If your monthly outgoings exceed your monthly income you need to act as soon as possible to regain balance of your finances. Basically, you need to either decrease your spending or increase your earnings. Money saving tips | Earn Money working From Home | Start Your own Business The essential bills need to be your priority. Refinancing by incorporating all your debts into one loan - a Debt
Consolidation Loan - can reduce your monthly payments and enable
you to take control of your finances. Mortgage or loan arrears can then
be cleared when you consolidate with more affordable monthly payments
- clearing unpaid debts, avoiding court action and preserving your credit
status. Reduce monthly payments You can significantly reduce your monthly payments with a Debt Consolidation
Loan, sometimes by up to half. Making one monthly payment can be much
more convenient and easier to manage than making multiple payments.
Don't worry if you've had past credit or money problems - our panel of lenders offer competitive rates, so fill in the fast enquiry form below or talk to a friendly advisor on 0800 458 5587 and find out how we can help you get the loan you want. There's no obligation, no charges and no credit check without your permission. Loansite is a Limited company based in Cardiff, UK. We are registered under the UK Data Protection and Consumer Credit Acts. Loans for HomeownersLoans for Tenants |
THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME - YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE OR ANY OTHER DEBT SECURED ON IT.
Our typical APR is 12.9% Variable. The actual rate available will depend upon your circumstances. Ask for a personalised illustration.
Information on this site must not be construed as legal or financial advice on specific matters. All information is a public resource of general information, which is intended be accurate, complete and up to date but is not guaranteed to be so. Your use of information on the Web Site or materials linked from the Web Site is at your own risk - full terms. This site is operated by Loansite.co.uk Limited - Registered Office The Counting House, Celtic Gateway, Cardiff, CF11 OSN
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