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UK debt help

Submitted by Paolo on Fri, 2006-08-11 09:37.

The UK debt help market is becoming more commercial by the day. The reason for this is that personal debt in the UK is spiralling out of control with many people unable to cope with multiple outgoings.

There are a number of debt help solutions available in Britain to cope with the ever growing number of people falling deep into the red. However, what all people in the UK need to realise is that you have to be prepared to help yourself before anyone else can step in with a solution.

More people than ever are spending beyond their means with the help of credit cards, store cards, loans and finance on a multitude of products. This wreckless consumer spending is the main reason that people in the UK have to look for debt help. If you're struggling with your finances, you have to stop spending money on things you don't need and realise you have a problem. 

Once you've accepted that you've got a debt problem and you're prepared to take action there are a number of places you can turn. We have a lot of advice, news and other resources that can help you with your finances right here, and get you moving in the right direction.

Another great place to start is by contacting your bank and explaining your situation. You might be pleasantly surprised by how much they can help you. If you owe money on credit cards or loans they might even be able to freeze repayments in order for you to get back on track.

The government have a number of really useful resources to help you combat debt, so this is something that's definitely worth looking into. If you have serious debt problems then you'll probably have to consider professional debt help and the UK have plenty of companies waiting to listen to your problems.

Make sure you listen to what they have to say about your problems but remember, just because they offer you one solution, it doesn't neccessarily mean that it's the only option you have. Make a list of all your options and consider the benefits and drawbacks of each. This will help you find a solution that works for you.  

Christmas cutbacks essential to avoid debt

New research from Family Investments has shown that families in the UK plan to cutdown their Christmas outgoings significantly this year, to avoid slipping into further

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.

Pension contributions suffer from debt problems

New figures from Prudential show that many UK consumers are reducing their monthly pension contributions as the credit crunch, combined with debt problems

Added debt from PPI slammed by Which?

Consumers group Which?

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.

0% balance transfer deals disappear

Consumers looking to reduce their credit card debt are set to find it a much tougher task as the leading providers continue to withdraw their 0% balance transfer off

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.

Consumers hungry for further rate cuts

Research from Fool.co.uk has found that the majority of UK consumers are hoping for further cuts in the Bank of England base rate to help them reduce outgoings and ease

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.

Savers hit hard by base rate cut

People will savings accounts are set to be hit hard after the Bank of England's decision to cut the base rate of interest by a huge 1.5%.

Will reduced interest mean reduced debt?

The government is waiting anxiously to see if the huge 1.5% drop in the Bank of England base rate will reduce debt in the UK and help the struggling econ

November debt statistics from Credit Action

The latest figures from Credit Action on the UK's debt problems makes grim reading as always for people all over the nation.

Bills go unpaid as debt problems grow

Debt problems caused by the credit crunch and the increased cost of energy has seen more people miss paying their bills each month.

Disposable incomde vanishes under cloud of debt

The amount of disposable income the average UK consumer has to spend has dropped by 30% over the last two years according to research from Abbey.

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.

Credit reports not always accurate

A study from Which? has found that some credit reports aren't completely accurate and contain mistakes.

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.

Credit card debt not as appealing

New figures from the Bank of England show that the number of people applying for a credit card is significantly lower than it has been for a long time.

Government urged to reduce debt above everything else

A recent survey has found that the majority of consumers believe the government should make reducing national debt a priority over other issues.

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.

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