Debt help advice

If you're experiencing any kind of financial problems, skilled debt advice can be invaluable. However, the first decision you have to make is whether you're serious about getting rid of your debt.

Many people have the best intentions of improving their financial outlook, but few actually follow through with decisive action. It's imperative that you sit down and seriously assess your finacial situation. This will give you the ideal start when looking for the right kind of debt help.

Once you've determined exactly where you stand with your finances and your debt, you then need to get your attitude right. The best debt help advice anyone can give you is to stop spending. Only buy the things you absolutely have to. By minimising your outgoings, you'll be amazed how much you can save and this extra cash can be put towards servicing your debt.

If mutiple outgoings are seriously getting on top of you then you're going to need some skilled debt advice. It's always worth going to your bank and speaking to someone about your situation. They might be able to help you out with a solution, like an overdraft or a loan. Make sure they go through everything with you, and you're happy that what they're offering will benefit you in the long term.

If you get a loan or any other form of debt help then make sure that you don't just start spending immediately. You might have freed up a bit of a cash but that doesn't mean you can start treating yourself to things you can't realistically afford.

If you're struggling to secure a debt consolidation loan in a conventional way by approaching your bank or other providers, then consider other solutions. For example, you can secure finance by using an online pawnbroker and using jewellery or watches as collateral.

A great piece of debt advice is to start a savings account and set up a monthly direct debit so that money is constantly being added to a seperate account. If you can afford to put ten or twenty pounds a month aside, this can quickly build up to a significant amount of money.

Below is a great video offering some basic debt help advice from industry leading expert, Martin Lewis.


We've got a great selection of debt help advice articles that can arm you will all the information you'll need to sort out your finances.

 

Clegg warns over future debt problems

Lib Dems leader Nick Clegg has warned consumers that the UK economic future will be poor if people aren't properly educated about the finance market and debt.

Elderly fail to seek out cheaper financial deals

Research from Alliance & Leicester has found that 98% of people over the age of 50 in the UK have been affected by rising bills, but only half have actively looked for cheaper deals.

Credit unions could be the answer to debt problems

Joining a credit union could well be the fastest way to reduce your debts and improve your financial outlook according to ABCUL, the trade association.

Debt problems and the credit crunch concern women most

New research from Bupa has found that increased debt and the credit crunch are problems that bother women more than men.

Credit card companies increase consumer debt problems

Some of the leading credit card providers have increased their interest rates, plunging many consumers into further debt.

Debt lies still a massive problem

New research from AXA has found that the number of consumers lying to their partners about their debt problems is increasing.

Debt help from the LITRG

The Low Incomes Tax Reform Group (LITRG) have released a new online guide to help people manage their finances better and avoid debt during the current economic downturn.

Elderly energy debt likely to increase

Age Concern believe that many elderly consumers will miss out on the best energy deals because they don't have access to the internet.

Debt inevitable over Christmas period

Fool.co.uk believe many people will have little choice but to get into increased debt problems over Christmas, as the majority of consumers haven't been able to put money aside.

Credit card rejection won't affect debt problems

The Consumer Credit Counselling Service (CCCS) have told consumers that if they're rejected when applying for a credit card or any other form of finance, it won't affect their credit rating

Young drivers getting into unnecessary debt

Young motorists in the UK are adding to their debt problems by trying to get insured on cars with bigger engines.

Avoid debt by saving for next Christmas

Skipton Building Society believe consumers can significantly reduce debt problems by saving for Christmas a year in advance.

Students advised to prioritise debts

A report in the Guardian newspaper has advised students struggling with debt problems to prioritise which arrears should be paid off first.

Nationwide to offer debt help advice

Nationwide have teamed up with Citizens Advice to offer debt help advice to consumers who are struggling with their finances during the credit crunch.

CCCS praise consumer debt control

The Consumer Credit Counselling Service have praised UK consumers for handling their money better as debt problems become more widespread.

Debt forces many into unfair loans

The Daily Record has warned consumers in Scotland and the rest of the UK to avoid loan sharks, no matter how bad their debt problems have become.

Reduce debt by reducing TV size

Which? have told consumers looking to reduce debt that they can save money on their energy bills by investing in a smaller television.

Packed lunches could add to debt problems

UK consumers trying to save money by taking a packed lunch to work could end up adding to their debt problems, according to mySupermarket.

Businesses should save to avoid debt

According to Standard Life, the majority of UK businesses don't make use of business savings accounts which will make the most of their money in difficult economic conditions.

Personal bankruptcy advice from Thrifty Scot

With more people than ever in the UK facing serious financial problems and having to consider declaring personal bankruptcy, the Thrifty Scot have publi

Unemployment insurance can reduce debt

MoneySupermarket are urging people in the UK to invest in insurance policies that cover them in the event that they lose their jobs.

Reduce debt with efficient driving

According to the AA, UK consumers could reduce debts by as much as £7.7 billion simply by driving more efficiently.

Football clubs debt an increasing worry

Chairman of the FA Lord Triesman, believes that the huge debts that Premiership football clubs carry are threatening to spiral out of control during the global credit crunch.

Debt advice companies come together to help

Six debt advice companies have joined forces for a special Advice Week, aimed at helping those struggling with their finances up and down the UK.

Avoid debt with joint accounts

Couples in the UK are being urged to pool their resources and open a joint account to make the most of their money and avoid debt.

Men twice as likely to slip into driving debt

According to research from the AA, young men in the UK pay on average twice as much for their first years car insurance than women do, making debt problems

Premium fuel debt just not worth it

New research from Which? has found that buying premium fuels is not worth the added expense and those that do are just unneccessarily adding to their debt.

Equity release not the answer to debt

According to Which?, equity release schemes should only be considered as a last resort for elderly consumers struggling significantly with debt.

Debt reducing fuel bill advice from Which?

Martyn Hocking from Which? Money believes consumers can significantly reduce their debt by looking around for cheaper deals on their fuel bills.

Reduce debt with cheaper car insurance

Financial experts are advising consumers looking to reduce their debt, to shop around for the cheapest car insurance available and only invest in the cover they need.