News that concerns this lady & what she stands for
You wouldn’t think it by looking at the weather but it’s May already and time to share April’s debt news.
This month we cover mortgage rate changes, welfare benefit awareness, council tax enforcement and even Coronation Street and Eastenders! Continue reading
An unexpected surprise
We’ve all done it – stuck our hand down the back of the sofa to find a slightly fluffy coin or two! It might only be 20p, but when you’re living on a budget every little helps.
There are other ways to land extra cash, ones that don’t involve searching down the back of furniture for coins.
Here are our top six…
Time to clean up
We’re halfway through April; spring has sprung and now could be a good time to take a detailed look at your budget. Could you spruce up a few areas and make savings that will help you before summer?
If you’re a DMP client, sometimes even paying an extra £10 a month could have a significant effect on when you finally reach your debt-free date.
Here are seven spring time budget tips for you to consider – could any of them help you?
What does that mean?
We want you to be clear about debt, as well as clear of debt. However the terms used in money management can be confusing, and some companies use them to mystify or scare you.
So to help clear this confusion, each morning we tweet about two terms used in the industry and explain what each means. Watch out for our #clearaboutdebt hashtag. Knowledge is power!
Make sure you do the right thing
We regularly hear from people who have buried their head in the sand and let their debt situation spiral out of control.
From the release of our 2011 Statistics Yearbook last month we already know that 45% of people wait over a year before asking for debt help. It seems as though people try and exhaust all possible options before admitting that they need debt help.
So what are these other options? And more importantly, what are the consequences of not getting advice from a free and impartial charity like us?
Spin, spin, spin the wheel of justice
April is upon us and as it’s the start of the month it’s time for our regular look back at the month just gone for changes to government policy, creditor action or debt law.
Of course the big news last month concerned the Budget, with the Chancellor of the Exchequer George Osborne revealing that everyone will get a new Personalised Tax Breakdown showing exactly where and how your money is spent by local and national services.
Unfortunately your PPI isn't returned like this
The Financial Services Authority (FSA) watchdog recently announced that it had instructed the banks to write to a further 12 million people reminding them that they may be able to claim back PPI payments. But if you’re in a debt solution, watch out. Reclaiming PPI could be a double-edged sword that’ll leave you with more debt pain.
You may have seen and heard that payment protection insurance (PPI) is being repaid to millions of people after policies were mis-sold. The sums aren’t small; the banks have put £9 billion aside to pay back these claims.
And it’s great that the likes of MoneySavingExpert.com are reporting that people are reclaiming their money. The FSA’s announcement will spur millions more people to get back money that’s rightfully theirs.
Benefit changes will affect the cash in your pocket
From Friday 6 April 2012 the Tax Credits system will change, for both new and existing claimants.
Why is this happening? The Government aims to save £18 billion per year on welfare expenditure by 2014/2015, and as some of these savings will be found via changes to the Tax Credits system, we thought we’d list how these may affect you, whether you’re a CCCS client or not.
Our charity helps around 370,000 people a year with free debt advice but we also promote wise use of credit through this debt blog, to prevent people falling into the trap of problem debt.
Need debt help now?
CCCS Debt Remedy is FREE and confidential, online debt help when you need it most.
Got a debt question for us? Post it on our dedicated Money Saving Expert forum thread.
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