We are coming across more and more bank employees with debt problems. If an employee of a bank cannot manage their debts properly, what hope is there for the rest of us?

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Not so long ago debt management companies were the scourge of the UK’s lenders. Now the same lenders are keen to get their clients with repayment problems on to debt management programmes.

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10 signs of the behaviour of someone who not just has debts, but has the tendencies of a compulsive debtor. People who are unorganized and chaotic in life, often let this spill over into handling of their personal finances. (more…)

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We speak to people everyday who enter into finance agreements without understanding the level of interest they will be charged.

You may be surprised how many people do not know that APR stands for Annual Percentage Rate, nor are numerate enough to equate the figures to what they are actually being charged. (more…)

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There are many reasons why people contact us for help with managing their debt, divorce, loss of job, reduced hours, sickness etc. By far the most common, though, is simply overcommitment, or too much debt for the level of income to sustain comfortably.  Unbelievably, many people have no idea how much they owe in total.  (more…)

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Offer Full and Final settlement payments if you have lump sum of money. Don’t just use it to pay of some of your debts without negotiating with your creditors first. (more…)

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You should always avoid debts with your bank where you maintain your current account. This is because your bank can help themselves to money owed to them whether you can afford it or not. (more…)

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This way, your essential bills are paid on time and you can budget for the rest of the month.

Not only does with allow your to make payments on time and to avoid late payment charges and bank charges, you could get benefit from defering payments until your next months wages without any cost to yourself.

If payday lands before the end of the month, and your direct debits etc are paid throughout the month, simply call each company and ask to shift them to the day after you get paid.

Almost all companies work from 1st of the month, and they are still being paid in that month but you are saving a whole months outgoings and you are paying them from your next wage.

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Know for sure how much is in your bank account at any given time.

Get into the habit of knowing exactly how much you have in your account and when direct debits and other standing orders are due to be made. This is easy to do by online internet banking.

Not only will this reduce costs to you in less charges from your bank and creditors for missed payments, you will be more focused on how much you are spending and how much you need to keep in your account to budget for essential bills.

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Those most actively chasing payments do so as often they have least legal right to your money.

If you fall behind with loan or other repayments, pay your highest priority debts first. For example debt that could eventually result in imprisonment (ie court fines) or repossession (ie secured debts) should be addressed before unsecured creditors.

Unsecured creditors know they can’t legally ask more from you than you can realistically afford each week or month. They also know that if are struggling repaying money owed to them, you’re likely to have other debts to other creditors you are also struggling with. Therefore they are clambering to get you to pay them ahead of everyone else.

Either treat all creditors equally, or make lower payments towards debts with the lowest interest rates while targeting higher interest debts.

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