Debt Line Direct

Benefits of U.K debt consolidation loans

2010-07-20T08:55:00.000-07:00

5 Benefits of U.K debt consolidation loans

One of the best things that you should do if you are overburdened with multiple credit card debts is to consolidate them. Consolidating your debts is certainly better than paying off multiple creditors. In the U.K, the best way of consolidating your unsecured debts is to obtain a debt consolidation loan. Other than debt consolidation loan, a debt consolidation program can also help you pay off your debts in affordable monthly payments. Debt consolidation is quite common in the UK and it has been considered as the best way to resolve your debt issues. Have a look at the 5 benefits of UK debt consolidation loans.

1. Single monthly payment:
The process of a debt consolidation loan involves taking out one loan in order to pay off all your other loans. Most debtors in the U.K have multiple credit cards and have huge balances on each of them. By using a debt consolidation loan, you can consolidate all you debts into a single monthly payment. Instead of multiple accounts and multiple deadlines, now you just have to concentrate on one single debt account. Collect all your savings and put it into this single debt account. Your debt consultant will disburse this account to your creditors.

2. Reduces interest rate:
A debt consolidation loan, like a debt consolidation program, reduces your interest rate on your loan. Credit cards generally have the highest interest rate and that is the main reason why credit card debts are the most common form of debt in the UK. By utilizing a debt consolidation loan, you can save a considerable amount of money as you have to pay lower interest rate over the life of the loan.

3. Stops collection calls:
If you take a debt consolidation loan, you can easily pay off your debt with affordable monthly payments. Therefore if your creditor is satisfied with your payments, then he will not turn your account to collection agencies. This waives off the possibility of harassing creditor calls. These calls can be stressful and annoying. Taking out a consolidation loan will help you to get rid of collection calls.

4. Protects your credit score:
Paying off your debts by taking a debt consolidation loan often protects your credit score. Generally failure to make your credit card payments on time hurts your credit score. So, as you are now making timely and regular payments with the debt consolidation loan, your credit score will not be hurt to that extent.

5. Reduces stress:
Debtors who are overburdened with huge credit card debts are always in stress. Nothing can be more stressful than not being able to pay off your debts. So, a debt consolidation loan can reduce this unnecessary stress by helping you with your monthly payments.

Before taking a debt consolidation loan, it is very important to shop for debt consolidation quotes. Other than consolidation loans, a debt consolidation program can also help you with paying off your debts systematically and lead a debt-free life.

Face your debt fears!

2010-07-15T02:48:00.000-07:00

Acknowledging that your debts have become uncontrollable is the first step in facing your debt fears. Studies show that many people wait at least a year before confronting the problem, and even then it usually takes harassment from debt collectors to kick start people into actually taking action. If you have finally decided to take control of your financial obligations then confronting your debt problems will be the first point of call.

Don’t hide from Debt

There are many reasons why people put off dealing with debt until the last minute. Some hope that the problem will simply disappear and debt collectors will stop calling if they are ignored for long enough. Others simply cannot face the prospect of asking for financial advice and help when it comes to their personal finances. The humiliation factor is also an issue for some people; they are not able to control their debts and are under the impression that people will think badly of them.

Debt collectors will not stop calling if you do not answer the phone, they will simply use other methods to contact you. Asking for help with a debt problem is not a sign of weakness and is the best way to tackle growing debt problems. With household debts in the UK now reaching over £1 trillion, and debt counselling services receiving thousands of calls per week, you are definitely not alone with regards to this problem and there is no need to feel embarrassed.

Slipping into Debt

It has never been easier for people to slide into debt. Credit cards, loans, hire purchase and overdrafts are seen as a way of simply surviving in today’s society. But it only takes a few missed payments for interest to start building up at a frightening pace. It does not take long to get to the point where you are simply paying interest and not making a dent in the original loan.

Taking out other credit cards or loans to pay for the original ones will only add to your debts in the long run, and the debt cycle will continue.

Make a Plan

Making a plan may seem like too little too late but it is the best way of actually seeing where your money is going. Facing your debt fears means being completely honest about your spending habits, listing all your incomings and all of your outgoings. Denial and excuses are no longer an option, and only by being honest can you take responsibility for your debts.

Don’t Hide from the Phone

Do not hide from phone calls from creditors or debt collectors. Creditors and collectors only have so many rights; they cannot legally threaten you or simply turn up at your door without your permission. At this point there may be a solution to your debt problems via payment instalments at a reduced rate or with the interest stopped. Explain realistically how much you can afford to pay each month, if they accept then make sure you stick to these payments.

Take Responsibility for your Problems

It may not be an appealing idea, but contacting your creditors before they start calling you is a wise move. Make them aware you are taking your debt problems seriously and are tackling the problem. If it gets to the point of debt collectors then you will also have additional collector’s fees to pay. There is nothing to be lost by contacting your creditors first to sort out the problem; it may mean the difference between another sleepless night or a weight lifted from your shoulders.

Seeking Debt Help

Each year thousands of people seek help from credit counselling agencies. Agencies will be able to offer a personal plan and discuss your options. They will also be able to contact creditors on your behalf or arrange consolidation, if this is an option. Some agencies may charge a fee for their services and some government run agencies will be free. Always avoid agencies that offer large loans with high interest rates to pay off your debts.

Cutting Back

If you are facing your debt fears and seriously want to change your spending habits then a change in your lifestyle may be needed. Take a look at ways to cut back on household purchases and luxury spending. Consider maximising your income with extra work. Spend with cash instead of credit cards, and if you can, pay off credit cards by paying more than the minimum amount each month. Do not try and maintain a lifestyle that is beyond your means, persisting in this will simply drag you deeper into debt.

Facing your debt fears and admitting there is a problem will take courage and a reduction in your spending. But it is the first step towards becoming debt free and placing financial control back in your own hands rather than the lenders.

Can you live without debt?

2010-07-14T08:50:00.000-07:00

Having debt isn’t compulsory, and many people can live their lives quite happily without credit cards and loans. There really is no need to fall into the debt trap, and living without debts should be the norm not the exception.

Britain Drowning In Debt, the Statistics

The personal debt statistics for the UK paints quite a picture. The average household debt in the UK now stands at £57,915 and the Citizen’s Advice Bureau deals with 9,562 new debt problems every day. It seems that Brits are addicted to debt, with many people achieving high levels of debt from an early age. Students in the UK leave university with an average of £23,500 worth of debt, and credit cards can be obtained at the age of 18. With statistics such as these it is no surprise that someone is declared bankrupt or insolvent in the UK every 51 seconds.

Peer Pressure Can Lead to Debt

A new statistic that is causing concern is the fact that one in five young people get into debt to keep up with more affluent friends. The peer pressure factor combined with the ‘buy now pay later’ philosophy is causing young people to sink into debt at an early age. Rather than recognising the dangers of debt, some young people are simply diving in and borrowing as much as they can with little thought for the consequences. More and more young people are finding themselves with serious debt problems and poor credit records thanks to the culture of buying on credit.

Can You Live Without Debt?

Many people will claim that it is impossible to make your way through life without debt. In some cases debt may be the sensible option, such as mortgages versus renting. But there is a difference between sensible borrowing and simply borrowing for the sake of it. It may seem like everyone else manages to make debt work for them but the statistics show otherwise. Having a minimum amount of debt is a much wiser option to reckless borrowing and spending on high interest credit cards. In the long run, the person without credit cards and loans is saving money and building towards a less stressful financial life.

Reasons Not to Build Up Debts

Anyone who has suffered serious debt problems will be able to give a list of reasons against getting into debt. Reasons not to build unmanageable debts will include:

* Constantly struggling to make ends meet every month
* Continual harassment from debt collectors and credit companies at home and at the workplace
* Continually borrowing money from friends and family
* Missing out on opportunities due to lack of funds being paid to creditors
* A poor credit record that will seriously hamper the inability receive normal credit rates
* Paying massive amounts of money in interest fees to creditors and not having disposable personal income
* Being seen as having the inability to manage money
* The inability to open normal bank accounts due to poor credit records

No Debts Means No Debt Related Stress

Debt related stress is a very real by-product of having serious debts. Debt stress can lead to constantly worrying about debts and can make every day a struggle. It can affect personal and work relationships and can lead to very serious mental and physical illnesses. Debt related stress will not be mentioned in the credit advertisements or in the credit contract’s small print. Having zero or manageable amounts of debt will mean having one less thing to worry about.

Leading a Debt Free Life

A debt free life can be achieved; it should simply take will power and good financial sense. Using facilities such as debit cards and even pre-paid credit cards is the way to stop paying interest to creditors. Consider the positive aspects of not being in debt, one of which will be an ability to exert financial control. Staying debt free means that facing a financially difficult period should be a lot easier if there is a sudden or prolonged drop in income. Take the view that those with zero or low debts are financially astute enough to forgo paying vast amounts of money in interest payments to creditors.

The choice between living a debt free life and coping with debts can significantly alter a person’s future and lifestyle. No one can be forced to amass vast amounts of debt; it is a matter of choice. Individuals do not usually follow the herd but show the way by example. The rewards of not following the seemingly easy credit route will be evident in the long run.

Debt could be prevented with financial education

2010-07-05T07:03:00.000-07:00

A Confused.com debt commentator has suggested financial education in schools could help future generations avoid money troubles.

Spokesperson for the comparison site Zoe Stevens described how some people need to borrow money on an everyday basis, but it is important that they understand the repayment process.

In her view, individuals will find managing their money easier if they are taught more about the products they are using or will utilise in the future.

These comments were made after an Equifax survey found that 94 per cent of parents believe that financial education should be made part of the national curriculum.

The Confused.com debt expert remarked: "Starting this at a young age will ensure that as they grow up, children are able to make sense of what can seem like complicated financial products."

She also noted that the organisation is calling for greater clarity on the terms of so-called payday loans, since many people are signing up for them without comprehending what they are committing themselves to.

New Mum's dilemma going back to work due to debt

2010-06-18T02:49:00.000-07:00

More than half of new mothers return to work due to financial pressures, a survey finds, with 56% admitting they were unprepared for the fiscal impact of having a child.
New mothers are being forced back to work by debt and financial worries, with many cutting short their maternity leave, according to research published today.
In contrast to the image of modern mothers "having it all", more than half (52%) of those returning to work after the birth of a child do so because of financial constraints, and one in 10 are doing so before the end of their planned maternity leave.
Only 22% choose to return because they want to continue their career, the survey by comparison website uSwitch found.
It found that the average net household income drops by 34% from £3,431 to £2,266 a month while on statutory maternity pay. But at the same time costs soar, with parents spending an average of £2,152 in the run up to the birth on baby items, and a further £2,521 – more than a month's reduced net household income – after the baby is born.
The average amount saved in anticipation of having a baby is £3,265, but 56% of the 1,000 mums questioned for the survey said they were not fully prepared for the impact of surviving on a reduced income.
Nearly a third of new mums were not aware of their company's maternity package when they decided to have a baby, and 30% decided to go ahead with getting pregnant even though the package was not ideal.
More than four in 10 mums have ended up in debt while on maternity leave, with an average £1,329 incurred.
However, although the financial impact forced 9% back to work early and another 9% to rethink their plans to be a stay-at-home mum, 40% take a pay-cut so they can work part time.
Worryingly, just 21% of new mothers returning to work believed their future progression and earning capacity had been unaffected by their maternity break.
Ann Robinson, consumer policy director at uSwitch, said: "Debt and financial considerations combine to be the biggest motivating factor behind new mothers returning to the workplace. Despite women being told that they can 'have it all' and can choose whether to be a working or stay-at-home mum, the fact is that most have this choice stripped away from them by the financial realities of modern life.
"With the new government planning to cut child trust funds and the impending budget causing concerns over pay freezes and redundancies, family finances are under more pressure than ever. The high cost of living coupled with the often crippling cost of a mortgage means that many households today need two incomes to get by. Unfortunately, new mothers are often paying the price for this by seeing their choices taken away."
If you’re a new mother and struggling in debt, visit DebtLine-Direct.com today and let us help you get your finances back under control.

Bad Credit Loans

2010-06-15T07:35:00.000-07:00

* Bad credit loans are heavily advertised online, in the newspapers / magazines and also on television.
* Have you been refused for a bad credit loan or still trying to find out if they actually exist?

These bad credit loans carry very high interest rates and do not come at an affordable rate for the people that tend to be applying for them.

The companies offering the bad credit loans are very aware, just how vulnerable most of the consumers are that approach them for this type of lending or credit.

If you're struggling with your finances and want to consolidate your debts, visit; DebtLine-Direct.com for advice.

What IS a County Court Judgement?

2010-06-15T07:31:00.000-07:00

County Court Judgement - CCJ - CCJ's

"At some point in our lives, we all struggle with our finances, sometimes resulting in a CCJ."

How did I get a CCJ?

CCJ's and defaults are registered on your credit file against you for the following 2 main reasons.

1: If you are late or fail to repay any unsecured debts

2: If you ignore debt collection requests

Your original creditor or lender will pass any account that remains unpaid to a debt collector of their choice. These collectors are usually working for the lender on a number of cases.

There are laws and guidelines that creditors must follow to compliantly recover the funds outstanding from you.

Because of your rights under the Data Protection Act 1998 and the Consumer Credit Act 1974, it is possible for you to check your credit files yourself by contacting one of the main credit agencies, who, for a fee of just a few pounds, will give you details of all your credit details. The two main credit reference agencies are Experian and Equifax.

Does a CCJ have long term effects?

A default is registered prior to any debt collection company being notified and then the collection company steps in to recover the defaulted funds.

If you fail to make an arrangement with either the creditor or respective debt collector, you can be forced into a court action which can then result in a County Court Judgement known as a CCJ being registered against your credit file.

This CCJ is then available for other lenders to see prior to agreeing to lend you any more money. A CCJ will show up on future credit checks. You will find that in most cases a CCJ or default can and will prevent an individual from obtaining further credit. We offer debt help and advice daily to people with defaults or a CCJ.

A CCJ or default will remain on your credit file for a period of 6 years and can have serious detrimental affects on you obtaining credit at an affordable repayment rate.

What can I do about a CCJ being held on my credit file?>

There are ways to return your credit rating to pre CCJ status.

A CCJ can be legally removed from your credit records in just a few short days or weeks if incorrectly lodged, enabling you to secure the loans or goods you need.

If you would like advice or help with CCJs then call Best Solution's free debt helpline now on 0800 933 6666.

Their lines are open 24 hours a day, 7 days a week and your call is free.

The punishment for Bankruptcy in ancient times

2010-06-10T04:36:00.001-07:00

The penalty for declaring bankruptcy in Ancient Rome was slavery or being cut to pieces. The choice was left to the creditor. By the Middle Ages, the treatment of insolvent debtors had softened considerably. In Northern Italy, bankrupt debtors hit their naked backside against a rock three times before a jeering crowd and cried out, “I declare bankruptcy”. In French medieval cities, bankrupts were required to wear a green cap at all times, and anyone could throw stones at them. There are some interesting debtor treatments in the history of English law. From 1604 a debtor could be placed in the pillory for non-disclosure of his assets to the Commissioners in Bankruptcy. He would then have his ear nailed to the pillory and cut-off. Some early debtor ears have been kept for posterity (pictured below) at KLS. They also were thrown into prison.

Luckily, in 2010 we are more liberal! If you’re struggling with your debt and would like some bankruptcy advice, then visit Bankruptcy Help Online – a brilliant and informative website about what to expect upon declaring bankruptcy.
Bankruptcy Help Online was set up to assist people with debt problems to regain control of their finances and help to make sense of the Insolvency process. Deciding on bankruptcy as a debt solution can be an emotional, stressful and complicated decision - that's why we're here to provide support and assistance at every step of the way. There are many things to consider when deciding to go bankrupt. There are pros and cons of clearing your debt through bankruptcy and it is important that you are aware of all the implications it will have before you agree to anything. Here at Bankruptcy Help Online, we endeavour to give you all the information you could possibly need to know, including other debt relief solutions such as a debt management plans, IVA's, or Trust Deeds. Whether you need someone to provide you with a 'hand-holding' service to help you get your finances back on track, or if you just need to have an informal, confidential chat with a professional, give us a call on 0800 988 2939.

Best ways to get rid of debt on your own

2010-06-09T02:23:00.000-07:00

Trying to get rid of debt can be really tough and cumbersome. But if you have the determination and patience, you can do it by following 5 simple steps as given below.

1. Understand your financial situation: To do this, you must calculate your debt-to-income ratio and see how much debt you owe and which debt is more important and should be paid first.
2. Understanding the credit: You should know about your credit report and correct all the errors and improve your credit history. You should know all the information regarding your credit history or else ignorance will cost you money.
3. Seek help to get out of debt: First of all seek help of a reputed and trustworthy consumer credit counseling agency. You should prevent filing a bankruptcy at all situations, as there are certain rules pertaining to it and these rules can make it difficult for you to get out of debt. You can also look for online help to get out of debt. Taking small steps at a time can be very fruitful indeed.
4. Cut off your unnecessary expenses: If you try, you can easily save a lot every year on credit cards and cut other costs. If you have a successful budget plan of your own, you can easily facilitate your payment of debt. Once you plan out your debt payment scenario, it can easily make you debt free fast.
5. Avoid common mistakes related to debt and credit: You shouldn’t succumb to the credit card policies which are too good to believe. You should try to know the truth of the credit card companies. You should completely avoid payday loans as they are very difficult to escape. Assess all the details before investing in a new car as your car payment can kill your chances to qualify for a much needed mortgage. Completely be aware of the mortgage policies and their risks. Go for mortgages only when they are appropriate for you. Forgo terrible need to go for a spending spree or else getting out of debt will be truly difficult for you.
Being scared when in debt is very natural. But you should be very focused in paying off your debts. If you really want to get out of debt, you must follow the steps mentioned above and give yourself a chance to lead a stress-free life.

For free debt help & advice, please visit; DebtLine-Direct.

How to save money

2010-06-09T02:13:00.000-07:00

It's so easy to over-spend these days. You see something in a shop maybe that you cannot afford yet a little voice just niggles inside, 'Well, I COULD treat myself just this once'. Sound like you? Well, you're not alone! Millions of people in the U.K overspend and simply do not know how to budget their money properly.

Here are some starting TIPS on how to manage your money to last you until the next pay-day.

Draw up a budget plan

Might sound daft, but trying doing it this way. Open an Excel document (or buy a cheap notepad for you technology dinosaurs), and start making a list. Firstly, list any income you get a month, be it your wage, or benefits, or some other type of income. Next list your essential expenditure (your NECESSARY outgoings a month), i.e. mortgage/rent, bills like gas/electricity/water/telephone and food and travel (petrol, bus/train fare). Then list your other outgoings that aren't completely necessary to survive i.e. Film rentals, magazine subscriptions, website subscriptions, expensive mobile phone contracts. Alright, you can't do anything to change your mobile contract if you're on a yearly but you CAN cut down on things that are not completely necessary, like film rentals.

What's Your Income? What's Your Expenditure?

Next bit is to add up all your expenditure and take it away from your income. What have you got left? Can you now think about stopping these unimportant outgoings? If you can cross something off the list and compromise, then well done. Next job is to divide the amount of money you have left over a month into 4. Because this is how much you're going to let yourself spend a week. If you're still struggling with what you have left over then you need to compromise further, be it spend less on food (go to a less expensive supermarket and cut back on the takeaways and bottles of wine!), or spend less on the phone (certain phone companies like Talk Talk do deals where it's free to talk after 6.pm and at weekends).

I Find It Hard To Find Good Deals

Look no further! This is why we are here to help. The Money Express has been set up especially for people such as yourself. What we have done, is searched the web to find the BEST deals for you. Things like, comparing credit cards, comparing loans, comparing mortgages, comparing utility bills, comparing bank accounts, comparing travel insurance, comparing home insurance, comparing car insurance, comparing pet insurance, comparing van insurance to name but a few. Our mantra simply is; why pay more when you can pay less? It's really as simple as that.

Come and visit our site; www.themoneyexpress.co.uk/money

You won't be disappointed. There is also an online forum and chat room where you can talk to people in the same boat as you! :D

I'm Still Struggling :(

STILL struggling? Now's the time to think seriously then. If you're living on a tight budget and cannot afford to do ANYTHING or eat nice foods or go out with friends then you're going to be miserable. Life is supposed to be enjoyable, not feeling down because you have no cash. You need to think about if you can change this. Is it time to ask for a promotion? Start looking around at new jobs with a higher wage closer to home? (To cut back on fuel and travel costs). Or maybe a second job? At a pub/cafe? Or can you be an entrepreneur and think about starting your own business working from home? This takes time however and in the meantime DO NOT give up your day job. Are you living alone? Maybe time to think about moving your partner in, or a friend/lodger? Is your rent too high? Time to move out? Mortgage too costly? Time to downsize? Are you in debt? TIME TO GET HELP!

Debt freedom day - an ‘interesting’ concept

2010-06-07T02:48:00.001-07:00

From 1 January to 10 March 2008, the ‘average Briton’ didn’t really make any money for themselves. Believe it or not, they’ll need every penny they earned just to pay this year’s interest on their credit card and loan debts, without even touching the debts themselves.

That’s why independent financial adviser website Unbiased.co.uk named 10 March ‘Debt Freedom Day’, the day in 2008 when people had finally worked long enough to pay the cost of their debts.

20p in the pound
No-one, of course, put their first 70 days’ wages towards their interest payments. Even if the terms of the credit allowed it, people need their money for food, rent / mortgage, petrol…

So 10 March is really a symbolic date, but it’s an important symbol, reminding people just how much of their money is taken up by interest payments. It’s more realistic to see interest payments taking up around 1 day’s wages a week – or about 20p of every pound the average person earns throughout the year.

70 days – and climbing?
Last year’s Debt Freedom Day came on 1 February, ‘just’ 31 days into the year. Even then, the thought of working for a month (or 1 day in 12) to pay off interest was alarming, but this year the figure is closer to 1 day in 5.

So what happened? According to Unbiased.co.uk, credit card debt has dropped from £55.6 billion to £54.9 billion, but there’s been a huge increase in personal lending over the last year – personal loan levels have risen from £2.6 billion to £9.8 billion. As a result, British consumers are faced with interest charges of nearly £1.5 billion.

This time next year, will we be looking back on Debt Freedom Day 2009, or will we still be waiting for it? We can’t know for sure, but we’re seeing reassuring signs that people are starting to pay more attention to debt matters.

Hope for next year?
A recent study by Alliance & Leicester showed that debt problems have become a common topic of conversation – more popular than celebrities or sport events. While 40% of respondents said they’d recently spoken to a friend about the latest sporting match, a full 50% had discussed debt problems in the recent past.

It’s good to talk. Apart from reminding people that they’re not alone, it’s a great way for them to pick up good advice – and find out what could happen if they don’t take action to sort their debts out. They might also hear ‘real-life’ stories about the various debt solutions, which might prompt them to seek debt help and pinpoint the debt solution that might be right for them.

Debt management, for example, can be an excellent way to address the issue of unaffordable debt. Anyone can talk to a creditor and ask them to accept lower payments, reduce interest and / or waive charges, but many people feel more comfortable asking an experienced debt management company to do this on their behalf.

Or they might choose to pay off their high-interest debts with a single debt consolidation loan. This can seriously reduce their monthly payments, but there are downsides to this. It’ll probably take them longer to repay their debts, and securing any debt against a house can put that property at risk of repossession.

Finally, people in severe debt might consider an IVA (Individual Voluntary Arrangement) or even bankruptcy. As forms of insolvency, IVAs and bankruptcy both have their drawbacks, but they do provide a valuable way forward, giving people the chance to write off the debt they can’t afford to repay – and look forward to a debt-free future.

To see if you qualify for an IVA go to www.debtline-direct.com and fill in a form that will take you no more than a minute!

DebtLine Direct's free press release

2010-06-03T04:21:00.000-07:00

We have just launched our FREE press release all about DebtLine Direct if you'd like to take a look!

Loan sharks face further attacks from regulator

2010-06-03T01:43:00.001-07:00

About 200,000 leaflets and posters will be handed out to warn people of the danger of borrowing money from illegal, and sometimes violent, lenders.

The campaign is particularly aimed at households in Scotland, the North of England and the West Midlands.

It is thought these areas contain about half the 165,000 homes in Britain who borrow cash from loan sharks.

"Unlicensed loan sharks will often offer cash loans without paperwork, they may take benefit or bank cards as security, and threaten or use violence to get money," said the OFT.

The regulator said its work had already assisted 11,500 people and led to £31m of illegal loans being written off, with prison sentences being handed out to some unlicensed money lenders.

The campaign will highlight the dangers of being charged exorbitant interest rates as well as the possibility of suffering threats and violence.

Now even best savings bonds pay under 3pc

2010-06-03T01:40:00.001-07:00

Interest rates offered on new fixed-rate bonds have been falling fast.

The top one-year, fixed-rate bonds now pay less than half the 5.3 pc inflation rate.

The top deals come from Kent reliance and the Post office, where the deposit taker is Bank of Ireland at 2.4 pc after tax (3 pc before) - these pay just £240 interest a year after tax for every £10,000 saved.

Halifax now pays just 1.88 pc (2.35 pc) fixed for one year and Nationwide 2 pc (2.5 pc). other new one-year deals include Chelsea BS, now part of Yorkshire BS, at 2 pc (2.5 pc), while National Counties is down at 2.16 pc (2.7 pc).

But these are at the top end of deals on offer. Barclays pays just 1.4 pc (1.75 pc), giving you a measly £140 interest a year for each £10,000 in your account. the news for those willing to tie their money up for two years is also bad. the top rate is now 2.96 pc (3.7 pc) from ICICI Bank, while halifax has cut its rate to 2.76 pc (3.45 pc) and Nationwide just 2.72 pc (3.4 pc).

And things are unlikely to get better, as money markets are not pricing in a rise in base rate until the autumn of next year.

Moyeen Islam, fixed interest strategist at Barclays Capital, says: 'The money markets have priced in rates staying at these levels until September 2011.'

Three-year deals are also down, although you can still earn 3.36 pc (4.2 pc) with Coventry BS. even if you are willing to tie your money up for five years, the best you can do is 4 pc (5 pc) from ICICI Bank or Coventry BS. Barclays pays only 2 pc (2.5 pc).

If you go for a tax-free account, you cannot match inflation. the best one-year, fixed-rate deal on cash Isas comes from Coventry BS at 3.25 pc. the rate is fixed until May 31 next year, but you can only put £5,100 into the account. the deal is not available to those who want to put in less than the maximum cash Isa allowance for this tax year.

Northern Rock pays 3 pc on its Isa Breaker fixed until May 15 next year - but once the fixed rate deal runs out, your account becomes a 30 Day Isa, where the rate is currently just 1.8 pc and you have to give a month's notice to withdraw your money.

Banks continue to pay less to Isa savers than on their taxable fixed rate bonds. halifax pays 3.25 pc on its two-year, fixed-rate cash Isa, but a higher 3.55 pc before tax on its taxable fixed rate bond.

Northern Rock pays 2.9 pc on its taxable bond, but 2.75 pc on its one-year fixed rate Isa. even worse, Lloyds tSB pays as little as 2.5 pc on its two-year, fixed-rate cash Isa but 3.5 pc before tax - worth 2.8 pc after tax - to savers willing to tie their money up for two years in its fixed rate bond.

The top two-year fixed cash Isa comes from Santander and Coventry BS at 3.5 pc against 3.7 pc from ICICI Bank on its two-year fixed taxable bond. You cannot transfer past year's cash Isa money into the Coventry account.

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2010-05-19T04:05:00.001-07:00

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The website has many calls to action, meaning a high conversion rate (Typically 10%), meaning high payouts for you! We also offer a 60-day cookie life, so even if a client you refer doesn't get in touch today, you'll still earn if they do within 60 days!

To join, click on the link below; any questions do not hesitate to contact me.

Thanks
Sarah

!!CLICK HERE TO GET STARTED!!

I want to die because I'm in debt - debt suicide

2010-04-29T08:31:00.000-07:00

I'm In Debt And I Want To Die

By: Sarah Grainger

Come on, nothing is ever THAT bad. Make yourself a nice hot brew and come back and read this article...Right?

...There is always a way out of debt and never the way you're thinking. So you're in thousands of pounds of debt? IT'S O.K. There are millions of people out there like you who are in the same boat, all who are wondering HOW they got into this mess, and all wondering HOW to get out of it.

There are debt management companies out there who can help you get out of debt. Companies that DON'T work alongside creditors like CCCS. Companies who WANT to help you clear and erase that debt. There are companies that can set up a debt management program with you, and what that means is, they consolidate all your loans from whoever you owe them to into one affordable monthly payment. Companies like us, DebtLine Direct. So if you're currently paying £500 a month for a £10,000 debt, we could get that as low as £100 for you every month.

Of course, there is a fee, sadly we need to feed ourselves too. BUT the fee is spread out of three months, and then all you do is pay the rest to your creditors, well we do that for you. The fee is a couple of hundred, and once we have that then you can leave EVERYTHING up to us. We contact your creditors on your behalf, and in return you will find that the letters and phone calls from them stop.

We offer FREE, CONFIDENTIAL advice, and we even offer a FREE CONSULTATION whereby an advisor will visit your home and go through with you what you can afford, go through your expenditure and your income and work out some kind of agreement for you :)

It REALLY does help. There's no reason to feel depressed about debt, trust me. Trust us and visit our site today and let us get your life back on track.

Comparison Websites - are they a good thing or a bad thing?

2010-04-29T08:28:00.000-07:00

Comparison Websites - Yay Or Nay?

By: Sarah Grainger

Are comparison sites good?

Yes they are, because ultimately they can save you money in the long run, they give you an option to weigh up what the best product would be for you so that you save time and energy.

Are comparison sites bad?

Some money comparison sites could be considered bad, those would be the ones who do not list EVERY option but only list those that they are affiliated with (i.e, getting paid by). Therefore, they are duping you into thinking that you are getting the best deal on the market like they propose to you they are doing, when really, you're only getting their sponsored links.

The Money Express is different because it lists EVERY option avaliable to you whether they are sponsored by the companies are not, and THAT is the best deal.

The Money Express are;

Committed to finding you the best price
Making sure you get the right product
Helping you make an informed choice
Dedicated to saving you time
Being clear and unbiased
Respecting your privacy

Committed to finding you the best price

By working with a wide range of companies we aim to save you money.
Any special discounts or deals available from the insurance companies on our panel will always be included in your quotes.
You won't get a cheaper price for the same product by going direct to the company's website, meaning you can buy with confidence.

Making sure you get the right product

We don't make assumptions, so you can be confident that you qualify for the products we present to you.
Our comparison results tables show what cover is included in each policy – and what isn't – so you can get the right product at the right price.

Helping you make an informed choice

Our product guides are designed to help you make an informed choice.

Dedicated to saving you time

We bring together a wide range of companies in one place so you don't have to search multiple websites to find the right product.
Our comparison search engine has been built to get your prices in seconds.
We save your quotes, so it's easy for you to edit your details, get a new quote and buy online.

Being clear and unbiased

All of our product comparisons are shown in a totally unbiased way.
We won't charge you a penny for using our service – it's completely free.
We only get paid when you buy a product from one of our partners – and we don't add fees or commission on to the prices we compare.

Respecting your privacy

We will never sell on your personal information to anyone else or use it to make unwanted sales calls or send unwanted emails.
You can opt out of receiving calls or emails at any time.
All personal information is securely stored and transactional data is encrypted, so you can use our site with confidence.

What are Debt Line Direct all about?

2010-04-27T08:21:00.000-07:00

We are a recognised debt management company based in Yorkshire, U.K. We cover England, Wales and Scotland and can offer tailor made debt-relief solutions. We do this by offering different options depending on people's needs. We offer debt management programs, IVAs, trust deeds and bankruptcy. We offer free confidential advice and a free consultation where one of our trained and excellent advisor can call at your home. You do not sign anything until you are happy with what we offer. We are not like 99% of all the other debt management companies out there who basically only care about their commission and making money. We WANT to help you. Most of our staff have been in some kind of financial mess at some point and therefore, you can expect only the best and compassionate advice.

Don't delay, fill out a form today. :)

www.debtlinedirect.com

Check your credit report for free

2010-04-26T06:09:00.000-07:00

Check your credit report for FREE here!!!

Search keywords of 'Debt'

2010-03-29T07:28:00.000-07:00

Here are some of the keywords that people may search for when looking for debt-related advice. We can help with any of these search terms on www.debtlinedirect.com;

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Materialism and the debt culture

2010-03-25T07:41:00.001-07:00

Debt And The Current Culture Of ‘I Want It Now' – Why Do People Get Into Debt And Why Is Materialism So Important?

It's so easy to get into debt these days. We live in a society where debt is common practice among thousands of people all over the U.K and beyond. Why? Why do we get ourselves into this predicament? Well the answer is straight forward, in a world where the need for materialism is stronger than living to our means, where banks and loan companies throw money around with ridiculous interest rates, where it is so much easier to borrow and spend rather than earn and spend, the temptation takes over.

How many times do you turn on the television and see offers of borrowing money, cars on credit, ‘buy now, pay later' options? We live in a culture where the psyche of people's minds simply is; ‘I want it now'. The 'buy now pay later' option allows people to purchase whatever it is they want and pay it back in instalments. Seems ideal doesn't it? You can take home that fabulous PC today and you don't have to hand over a penny. What could be simpler? But what most people don't consider is the interest they will end up paying. Some companies charge extortionate rates of interest on their products in 'buy now pay later' deals. Often a person can end up paying over double the price of the product. These interest rates are mentioned at the point of sale but not always overtly enough. Remember, the salesman wants a sale. He will tell you about the interest but he is unlikely to emphasise just how much that interest will mean you have to repay as he does not want to dissuade you. Make sure you always read the small print and work out exactly how much you will end up repaying.

How many of us own a credit card or want to own a credit card? So much easier than having to wait until pay day right? But here's where the lenders make their money. The APR rate on borrowing on a credit card can be simply unaffordable. Some credit card companies even cater for people with an extremely bad credit rating. These types of lending tend to have extremely high APR because the lenders know that you have no other choice but to accept or do without.

It's a dog eat dog lifestyle that becomes a nightmare and you really need to be careful when you consider getting yourself further credit which will in turn get you into further debt.

Once creditors get on your back, things can get really nasty, red letters through the door, threats of CCJ's, and even threatening to send bailiffs to your door to take away your material possessions. Debt can get so bad some of us even contemplate suicide.

BUT IT DOESN'T NEED TO BE LIKE THIS.

There are debt management companies out there who can help you get out of this pit-fall. Companies that can set up and arrange debt plans with you, so that you can consolidate all your debts into only one affordable monthly payment. It gets the creditors off your backs, the bailiffs away from your doors, and makes life SO MUCH BETTER for you once you know you are now in control of your life once more. There are other options too, such as IVA's, Trust Deeds and Bankruptcy. DebtLine Direct offer all this and more. So, if you're ready to face your fears and refuse to live like this anymore, then visit our site and give us a call or e-mail us. We even have a forum where you can talk to other like-minded individuals in the same situation as you or a chat-room if you're not ready to speak over the phone just yet. Whatever your need, we'll be there for you.

www.debtlinedirect.com

What's the best debt solution?

2010-03-25T07:38:00.000-07:00

Dealing With Debt - What Debt Solutions Are Avaliable For Me?

HELP ME WITH DEBT

There are a number of debt solutions on the market which are all designed to help you deal with debts and reduce your monthly payments to your creditors. These include:

Debt Management Programme – The debt management programme is offered by many financial solutions companies across the country. They are designed to offer you a reduced payment to your creditors. Making your unsecured debts more affordable means that you can keep to a good standard of living without having to worry about missing payments to your unsecured debt, but it is likely that the length of time you will be paying back this debt will increase.

Debt management programmes are only really suitable for those with debt which is less than £12,000, if your debt is higher than this level and you are struggling then you may be more suitable for an IVA.

IVA (Individual Voluntary Arrangements) – IVA's were introduced as a more realistic alternative to bankruptcy for those who are struggling with high levels of debt. Once accepted onto an IVA, the average term is 60 months. During this IVA term you must commit to making a set reduced payment to your IVA. This will be distributed amongst your creditors who will write off any unpaid debt upon completion of an IVA.

An IVA is a legally binding contract between you and your unsecured creditors so it is essential that you continue to make the payments to your creditors so you do not have to risk bankruptcy.

Trust Deeds

Voluntary -A trust deed is a voluntary agreement between a debtor and their creditors (the people they owe money to) to repay part of what they owe. A trust deed transfers the debtors rights to the things that they own to a trustee who will sell them to pay creditors part of what is owed to them. A trust deed will normally include a contribution from income for a specified period, this is usually 36 months but can vary.

The trustee must be a qualified insolvency practitioner. Insolvency practitioners are regulated by law and must be members of an approved governing body. Independent Insolvency Practitioners fees are at their own and their licensing authority's discretion.

An ordinary trust deed is not binding on creditors unless they agree to its terms.

Protected -A protected trust deed is a special kind of trust deed that is binding on all creditors. Provided the debtor complies with the terms of their protected trust deed, the creditors can take no further action to pursue the debt or to make the debtor bankrupt.

A protected trust deed prevents the debtor from applying for their own bankruptcy or for a debt payment programme under the Debt Arrangement Scheme.

If a debtor aquires any new debts after they sign the trust deed, they will not be protected from action by ther new creditors.

Bankruptcy

Bankruptcy law provides for the development of a plan that allows a debtor, who is unable to pay his creditors, to resolve his debts through the division of his assets among his creditors. This supervised division also allows the interests of all creditors to be treated with some measure of equality. Certain bankruptcy proceedings allow a debtor to stay in business and use revenue generated to resolve his or her debts. An additional purpose of bankruptcy law is to allow certain debtors to free themselves (to be discharged) of the financial obligations they have accumulated, after their assets are distributed, even if their debts have not been paid in full.

There is no right or wrong option to choose from, it all depends on your circumstances and what you owe - for example if you own a house, a car and other things that could be taken from you through bankruptcy, then that's not the right option for you and a debt reduction prrogramme would be more ideal. What is clear though, is that you must carefully weigh up your options and speak to a qualified trained advisor who can give you impartial advice. You must be careful about debt management companies
who are only in it for the money and won't care about you as an individual.

Go to: www.debtlinedirect.com for more information where an online forum/ chat room is avaliable to speak to the staff or other people just like you.

Ways to make sure you don't over-spend.

2010-03-25T07:36:00.000-07:00

7 Ways To Make Sure You Don't Overspend

Do you have significant debts as a result of overspending? If you do, you are not alone. Modern society makes it particularly easy to spend more than we really should. However, if you want to clear your debts and have greater peace of mind, it is important to tackle the root cause which is overspending.

These are several tips to help avoid overspending.

1. Be aware of how much money you spend.

Many chronic spendaholics live in denial about how much they spend. If you realise how much you spend on various items, this alone may be sufficient to reduce your spending. For example, on a night out it is easy to spend much more than you think, especially if you pay for drinks and food on cards. – Quite often, friends think they must have lost some notes, because the money has disappeared so quickly. Often the problem is relatively cheap items, that we buy often: coffee, takeaways, mobile phones e.t.c. Go through your bank accounts, credit card statements and add up how much you spend on different items and decide whether you really want to spend that much money.

2. Avoid impulsive spending.

If you are in the habit of spending on impulse, make an effort to have a moment of reflection before buying anything. If you see something you would like to buy, try waiting a day before actually committing yourself to buying. If you really want it, you will come back. This also gives you the chance to find other things that may be better.

3. Don't spend time where it is easy to spend money

If we spend alot of time in certain places we will be drawn to spend money. This spending is mainly to relieve our boredom and not because we need to buy it. Therefore, don't spend every lunch break wandering around your favourite shops. Go to a garden or place where there is little temptation to spend all your money.

4. Have clear objectives when shopping.

Before going shopping have a clear objective of what you need to buy. This means that you will buy things because you need them, rather than because they "look nice". Don't go into the city centre without a clear objective.

5. Give items objective ratings.

Before purchasing any item give it an objective rating of how much you need and value it. If you are honest in your valuations you will think carefully about buying things which are less than 8 out of 10. It is good to combine this suggestion with leaving things a day. This means you will go back to buy the things you really need and value the most.

6. Avoid spending by habit.

Quite often a lot of our spending is a daily habit. However, this spending could easily be unnecessary. For example, if you buy a takeaway coffee everyday, why not invest in a coffee machine. Just because you spend £7 a day on lunch doesn't mean this habit has to continue for ever. Try taking your own lunch. Re-evaluate all your habitual spending patterns and decide whether it is necessary.

7. Give yourself strict income limits.

If you really have trouble controlling your spending it will be very effective to give yourself strict amounts of income per week. This will work most effectively with cash, because it is easier to monitor. If you learn to live on £50 per month, you will value money more and learn more frugal habits.

If you're struggling with your finances and need friendly free advice, log onto www.debtlinedirect.com, a community that people like you go to for help and advice.

Ways in which to save money

2010-03-25T07:35:00.000-07:00

10 WAYS TO REDUCE DEBT

Do you really need to pay off your bills and reduce your monthly outgoings? Some cuts in spending are relatively painless, like for example, switching your gas and electricity supplies. But, if you have done all these easy methods, and still need to save money, here a list of other more painful sacrifices.

1. Live With Your Parents / Relatives

Yes, you may get nagged for not tidying your room, but, it could be a small price to pay for saving up to £500 a month. Due to expensive house prices, the cost of mortgage repayments and rent can take a very high % of your income. Living on your own may give you greater independence and freedom, but, unfortunately it is tremendously expensive. If you can bite the bullet and spend some time living with your parents, you can save potentially thousands in lower rent and mortgage payments. This can enable you to save up for a deposit or pay off your mounting debt. Of course, this relies on your parents being willing and able to let you stay; but if it is an option it can make a big difference. No one likes having to tell their parents what time they will be getting back, but, is it worth paying £500 a month just for this freedom?

2. Cycle to Work

Transport costs in getting to work, can become a high % of our disposable income. We may feel transport is an indispensable part of our expenditure, But, if we work less than 10 miles away there is no reason why we cannot cycle to work. True, it is not so pleasant when it rains or when cars seem indifferent to our existence on the road. But, cycling has some great advantages – very low running costs, no taxes to pay. Cycling will keep us fit, without having to spend money or time going to the gym. In some cities you may even find that cycling to work can be quicker than driving or getting the bus.

3. Give up Drinking / Coffee

Have you ever made a new years resolution to stop drinking alcohol / coffee? We know it will be good for our physical and mental health, but, it is also very good for our financial health. Many people spend far more on drinking than they may realise. The costs add up and when we are enjoying ourselves, we don't keep a very accurate record. However, if you can stop, or at least cut down then you may be pleasantly surprised at the improvement in both our physical and financial health.

4. Cook For Yourself

A takeaway is quick and easy way to get food. But, the cost can soon add up. Even only 2 or 3 takeaways a week can soon add up to more than £30 a week, not forgetting the costs for lunch at work. It's not hard to buy a loaf of bread and some cheese/ham and make up your sarnies for the week rather than spending £2-5 a day at work's canteen! It also makes a big difference over the course of the year. As an added bonus, cooking for yourself is probably more healthy as well.

5. Tear up your Credit Cards

Credit cards make spending easy. With credit cards, you don't have to think about parting with money for another 6 weeks. It makes shopping painful. If you have no credit cards but have to go to a cash point and withdraw the money. It makes you think twice about parting with so much hard cash. It will make life a little more inconvenient but will make a big difference in saving money.

6. Don't Buy A TV

At the least you could cancel all the cable channels and make do with an old box style TV. What are you going to loose by getting rid of Cable. Endless repeats of old soap operas, very long commercials trying to sell you life insurance? Maybe this is not such a painful choice…

7. Sell Your Car

A car means freedom and independence. But, a car is also like a cash guzzler. It's not just petrol, insurance and tax, but the unexpected service bills which necessitate £1000s in repairs. There is life beyond the car; try getting rides from friends, public transport can be fun, and cycling will keep you fit. A car may seem indispensable, but if you get rid of it, you will find a way to get around it. Society used to function quite well before cars.

8. Mend Your Clothes

Rather than buy new clothes, why not repair old ones? Who knows, perhaps you will start a new trend for designer clothes, with patches sewn on. – Then again, maybe not.

9. Try the £3 a day Challenge

Could you survive on £3 a day? Admittedly this idea may not sound very pleasant. But, try it even for just one week. It will teach you to be very frugal. By having so little money, you will discover what is essential spending and what is not important.

10. Take a Holiday in your Back Garden.

Well, not literally your back garden; but, why spend £1000s of dollars travelling to exotic countries when you could have a good time in your own country? You will not only save money, but, also will not suffer from jetlag or have to worry about getting tropical diseases.

If you're struggling with your finances and need free debt advice then have a look at our site;

www.debtlinedirect.com

DebtLine Direct - A debt consolidation and management company

2010-03-25T07:29:00.000-07:00

Debt Line Direct (www.debtlinedirect.com), are a recognised debt management company that have helped thousands take control of their debts and helped them to become totally debt-free.

The way we work is very different from other debt management companies because we are not driven by money whereby some debt companies simply only care about the sales coming in. We're unique because our friendly and trained staff have been in the same situation as you. That's right. WE'VE been there. So you can expect only the utmost respect and compassion and inpartial advice.

We help you get rid of your debts with various strategies. Our main one is to create a debt management plan which is to basically consolidate all your monthly repayments into one affordable payment each month. Once all the paperwork is signed we then also contact your creditors on your behalf making sure they will now leave you alone. If they do contact you after we get in touch with them, then simply hang up because by law they should not be ringing you once we step in.

We also offer other options such as an IVA, Trust Deeds and Bankruptcy. We take away your stress and strains by offering you a way out.

What's an IVA?

An IVA or an Individual Voluntary Arrangement, is set up by a licensed professional known as an Insolvency Practictioner - an IVA is a formal agreement made between an individual and his creditors, allowing the individual to make reduced payments toward the total amount of debt so a percentage of the total is paid off; after five years or so, the individuals debt will be classified as settled.

* An IVA is a legally binding agreement that exists between an individual and his creditors.
* It is set up to help those people who encounter financial difficulties in settling their debt, avoiding bankruptcy.
* The monthly payments that are specified in an IVA are based on the individuals disposable income.
* All outstanding debt is legally disregarded once the final payment is made.
* An IVA can cancel up to 75% of a persons outstanding debt, depending on his present financial circumstances.
* An IVA provides debtors a real solution to financial problems, ensuring that the debtor makes a single payment every month based on their income; once all agreed payments are made, the creditors are then prohibited by law from adding other charges or further interest to the debtor's account.

What's a Trust Deed?

What is a Deed of Trust?

If you have never read a deed of trust, you might have questions about it. After all, it is the security for your loan. It is the document that is recorded in the public records.

A deed of trust contains three parties:

* The Trustor, which is you, the borrower
* The Trustee, which is an entity that holds "bare or legal" title
* The Beneficiary, which is the lender

The deed of trust is an instrument that identifies the following:

* Original loan amount
* Legal description of the property being used as security for the mortgage
* The parties
* Inception and maturity date of the loan
* Provisions of the mortgage and requirements
* Late fees
* Legal procedures
* Acceleration and alienation clauses
* Riders, if any, regarding such clauses as prepayment penalities or terms of an adjustable rate mortgage

What is a Trustee?

Because mortgages do not contain a trustee, many borrowers are confused between a mortgage and a deed of trust. Deeds of trust contain a trustee, an independent third party that does not represent the borrower nor the lender.

* The trustee is an entity, generally a title company, that holds the "Power of Sale" in the event of default.
* The trustee also reconveys the property once the deed of trust is paid in full.
* In the event of a default, the trustee files a Notice of Default; however, in most instances, the trustee will substitute another trustee to handle the foreclosure under a Substitution of Trustee.
* After the 90-day period in the public records, and a 21-day publication period in the newspaper, the trustee then has the power to sell the property on the courthouse steps without a court procedure.
* During the three months following recordation of the Notice of Default, the borrower can redeem the property by making up the back payments and paying the trustee's fees.
* Once the trustee sells the property at a Trustee's sale, it is fina

What's Bankruptcy?

How to go bankrupt:

Before you take any action to apply for your own bankruptcy, you should seek expert advice about bankruptcy and the other options available to you. The Insolvency Service and the courts cannot advise you on specific insolvency problems; for example, whether you should go bankrupt.

Declaring yourself bankrupt:

First, you will need to complete the following forms. You can get the forms, free of charge, from a local court that deals with bankruptcy. You can also complete the forms on-line at The Insolvency Service's website.

* The petition (Insolvency Rules 1986 form 6.27) - this form is your request to the Court for you to be made bankrupt and includes the reasons for your request.
* The statement of affairs (Insolvency Rules 1986 form 6.28) - this form shows all your assets (anything that belongs to you that may be used to pay your debts) and all your debts, including the names and addresses of the creditors and the amount you owe each one. The form contains a declaration of insolvency that you will need to swear on oath before an officer of the court or a solicitor. You may have to pay an extra fee for this.

You can complete both of the above forms online via The Insolvency Service's Online Forms Service. This is an interactive internet service which can be accessed at a time and location that is convenient to you via The Insolvency Service's website,

The Online Forms Service is easy to use and provides assistance to allow you to complete the forms on your own. There is also a dedicated enquiry line telephone number and e-mail address if you require additional guidance in completing the forms. The Online Forms Service allows you to save and retrieve partially completed forms, with the ability to edit previously saved information.

A secure database then captures the information you provide in the forms. This information is automatically deleted if you do not present your bankruptcy petition to the Court within six months, but if a bankruptcy order is made the information is made available to The Insolvency Service. This may reduce the need for the Official Receiver to ask you for additional information.

Once you have completed the forms you will need to print them and take them to court.

If you do not use the Online Forms Service you should complete the petition and statement of affairs forms in capital letters, using black ink. Court staff can only advise you on the court procedure and give you the forms you need. They cannot give you legal advice.

If you are dealing with a county court, the court will need the completed forms and 2 copies of each before it can accept your petition for bankruptcy. If you are taking your petition to the High Court, you won't need any extra copies. When you have completed both forms, and printed the forms if you have used the Online Forms Service, signed and dated the bottom of every page, and have the fees ready, you can go to the court and ask for your petition to be dealt with.

NB: If you are, or were, running a business in partnership (even if there is no formal partnership agreement) and all the partners want to be made bankrupt, you will need different petition and statement of affairs forms. These are available from your local court.

Do you want up to 70% of your debts wiped off and interest and charges frozen? Why struggle yourself to deal with nasty creditor's demands and end up stressed and worried? Here at Debt Line Direct, our ethos is to help people regain control of their lives by taking control of their money issues. We have a friendly and trained team ready to take your query 24 " 7. Some of us have even been in the predicament of being in debt, that's why WE are the recommended debt company by thousands!

How to manage your debt

2010-03-25T07:22:00.000-07:00

Debt overload has become quite common over the years. Many people are taking on more credit card debt than they can handle, or their circumstances are changing in a way that makes debt that was once manageable hard to repay. Does this sound familiar?

Why are so many people in too much debt?

Sometimes people end up in too much debt through no fault of their own. They may incur debt sensibly, but lose their jobs or become ill and unable to work. Unless they can find some way to bring their income back to the level that it was at, they could find themselves saddled with debt that they can no longer afford.

Another reason that people end up over their heads in debt is poor financial management. Credit card companies are often willing to extend credit that the borrower may not make enough money to pay back. And an increasing number of people keep multiple credit cards, which essentially multiplies their debt. Although they may be able to keep up with the minimum payments, interest keeps them in debt for many years.

How to keep your debt manageable

The best way to keep control over your debt is to not let it get out of hand in the first place. Shop around for the best possible interest rates, and keep your open accounts to a minimum. No one needs a pocketful of credit cards. One or two should be plenty.

When paying back your debt, making more than the minimum payment will prevent interest from accruing. The best thing to do is pay the balance in full each month. This will keep your credit in good shape and save you lots of money. If something comes up and you need to charge more than you can pay back in a month, stop charging until the balance is paid off.

How to get out of debt

If you're already in more debt than you can handle, all is not lost. It takes discipline, but you can get yourself out of debt on your own in most cases. The key is realising that there is a problem before it is too late.

When you realise your debt is out of control, the first thing to do is stop taking on new debt. Then it's time to work out a budget, and start putting all of the money you can into paying off your debts. You'll need to at least make the minimum payment on everything each month, but what works best for most people is putting all of their extra money toward one debt until it's paid off, and then moving on to the next. Paying debts off in the order of highest to lowest interest is the least expensive course of action.

If you've tried to manage your debts on your own but are having trouble coming up with any extra money to put toward them, or even enough to make the minimum payment, you may need some assistance. Talk to your creditors. They may be willing to reduce your interest and payments if you tell them about your situation. If that doesn't work, credit counseling and debt consolidation are options. Bankruptcy is also an option, but it should be the last resort. It is often possible to get things under control without filing bankruptcy.

Getting into too much debt can be a scary thing. But it is often possible to regain control on your own. If not, help is available. Don't be afraid to seek it out.

DebtLineDirect - A debt management company that cares about YOUR needs. We offer tailored made solutions to suit you - a debt management plan? IVA? Trust Deed? Bankruptcy?

You tell US what you need and we'll do all the leg work for you.

How can I reduce my debt?

2010-03-25T07:18:00.000-07:00

Top 10 Tips for Reducing and Eliminating Debt

1. Don't ignore your debt problem in the hope it will disappear

It is a mistake to try and forget or ignore the problem of debt. It may seem unmanageable, but if you take a clear and focused attitude you can regain control and work out how to best manage the existing debt.

2. Always try to meet minimum payments

It is very important to maintain the best possible credit rating. Therefore, it is important to make minimum payments on time. If it is a real problem, speak to your loan company and explain the situation. At least, you may be able to miss a payment, with less damage to credit rating.

3. Debt consolidation

There are various ways to consolidate debt. However, the basic rule is to try and pay off debts with the highest interest rate first. It may be possible to consolidate high interest debts into a lower interest debt. If possible, this avenue should be explored. If you own a house, you will be able to have a secured debt consolidation; this will have a lower interest, but at the same time, means your house is liable to repossession should you fail to meet debt payments.

4. Debt counselling

If you find your debt very stressful and you don't know how to manage, it is advisable to speak to an independent debt adviser. A good debt counsellor will be able to look at the problem with less emotion and more detachment; with their experience they will be able to suggest various options to reduce and eliminate debt. Often an independent counsellor may be more appropriate than friends and families as there is less emotional attachment.

5. Debt Settlement

This is a potential solution for those with very large unsecured debts. It is a solution with debt settlement companies find an agreement to reduce your debt. They negotiate with your creditors to pay upto 50% less than your total debt. The debt is then said to the "settled in full" . There are potential drawbacks of debt settlement, for example, it will have some impact on your credit rating It is not something to be entered into lightly, however, it can be a much better alternative to bankruptcy.

6. Increase Income

A second job is a way to be able to save extra money. This can be used to actually reduce your total debt, rather than just adding to your debt. In the long term you will save twice; not only will you benefit from reducing your debt, you will also save on interest payments.

7. Reduce Spending.

If we look closely at our spending, we may be surprised at where our money goes. For example, the US TV programme, big spenders, showed in graphic fashion how much people were spending on inessential items. One girl, was spending £2,000 a year on take away coffee and pastries. In the majority of cases, those with large debts seriously underestimated the amount they spend on certain things. If you make yourself write down what you spend your money on in a week, you may be surprised at where you can easily make savings. Not only that, but people found they were much happier for reducing inessential spending.

8. Don't Panic!

Why is the Hitchhikers Guide to the Galaxy the best selling book in the universe? Because it has in bold letter on the front the reassuring phrase "DON'T PANIC" When we panic we magnify our problems, and take a negative attitude that the problem is insolvable. This is not the case, if we are determined to improve our situation, we can start to make a dent into our debt problems.

9. Remortgage

For those who are home owners, remortgaging enables a consolidation of debts into a low interest loan (mortgage). This is a good option; however, you need to be careful you can meet the repayments. A fixed rate mortgage may be a good idea to make planning easier.

10. 0% Credit Cards.

If your credit rating enable you to take out new credit cards, take advantage of cards which give the option to transfer large amounts of debt to a 0% or low interest bearing card. If some credit card companies refuse you, don't give up. Keep trying, some credit cards accept worse credit ratings than others.

If you're struggling with your debt and creditor's demands, log onto DebtLine Direct, fill out a form that will take no more than two minutes and let us give you a call and help you take control of your finances.

We know, only too well, how it feels being in debt. 90% of the people who work here have been through some kind of debt or financial struggle in their lives. It's not easy. Let's make it easy now.

Why is an IVA good? Why is an IVA bad?

2010-03-25T07:14:00.000-07:00

IVA Pros & Cons

The Pros:

There isn't the stigma or publicity that accompanies bankruptcy.
A business can continue to trade and generate income.
The debtor, via the insolvency practitioner, is involved in the choice of assets made available to the creditors since the arrangement is designed to suit the debtor's situation. All this is providing the creditors are no worse off than if bankruptcy had taken place.
Administration costs should be lower than bankruptcy, enabling higher payments for creditors.
Creditors can still claim tax relief against bad debts just as with bankruptcy.
Creditors who vote against the IVA are still bound by it as long as 75% of the creditors in terms of the amount owed agree to it.
Creditors likely to recognise that they must accept less than all the money owed.
The debtor does not suffer from the same restrictions as those imposed on bankrupts. For example, a debtor can still be a company director, in the armed forces, hold public office, retain their professional status or trade under a business name.
The debtor is able to operate a normal current account, as long as it does not have an overdraft facility.

The Cons:

Usually only suitable if the debtor has unsecured debts of at least £15,000.
To gain approval, creditors representing at least 75% of the value of the money owed, as well as a simple majority, must agree to the proposed arrangement.
IVAs usually last for five years and payments are typically higher.
The home and assets of the debtor can still be at risk if the creditors decide not to exclude them.
Should the IVA fail, the debtor can still be made bankrupt. If this happens, the costs of the IVA will be added to the debts.
The insolvency practitioner will closely supervise the debtor.
All IVAs are recorded in a public register and will almost automatically appear on your credit file. This could affect any future applications for credit.
If you have the qualifying asets and/or avaialbel income you can end up paying back everything you owe your creditors PLUS allt he costs related to the setting up and administration of the IVA PLUS statutory interest.

Debt Line Direct

Helping people like you get out of debt.