Tag Archives: debt

8 ways to save money in your extra hour

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Save money with your extra hour

Save money with your extra hour!

So the clocks are going back this weekend. Cue obligatory panic about whether that means we’ll get an hour less in bed or not! Thankfully, this Sunday you’ll have a whole extra hour in your day. Or your Saturday night, if you’re the energetic type.

Rather than getting 60 minutes more sleep, here are eight ways you could use your extra hour to boost your bank balance this weekend!

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Have you bought anything from a rent-to-own store?

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Rent-to-own

Take part in our rent-to-own survey

We all know that sinking feeling that comes when the fridge-freezer stops working, the washing machine suddenly springs a leak or the mattress starts to sag so much that you can feel the bedsprings.

It can be hard to find the money to replace large household items, particularly if it’s an expense you weren’t planning for.

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5 famous bankrupts from history

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Even the great Walt Disney had to deal with debt problems!

Even the great Walt Disney had to deal with debt problems!

As you’ve no doubt heard us say so many times, debt problems can happen to anyone no matter what their income, social status or approach to money. Little surprise then that history is riddled with people who were plagued by money worries.

Bankruptcy has long held a stigma that persists to this day despite it often being the best solution available to a person in debt. Several modern day celebrities have had to call in the official receiver when their debts got out of hand, but this list of famous names from yesteryear might surprise you…

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Payday loans: 7 key concerns we think need to be addressed

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UPDATE: 1 July 2014 – new rules from the Financial Conduct Authority (FCA) means that payday loan companies:

  • cannot rollover an outstanding payday loan balance more than twice
  • must send the debtor an information sheet with contact details for various debt advice organisations. A copy of this information sheet can be seen here
  • cannot make more than two attempts to deduct money from a debtor’s bank account by means of Continuous Payment Authority (CPA) unless a rollover has been agreed.
  • Must now include a prominent risk warning on all financial promotions.
Payday loans neon sign

We can help you deal with payday loans

We say that payday loans should never be used to pay debt, but the payday loan sector also needs to take their customers’ financial situations into account.

Below we’ve outlined seven key concerns relating payday loans that we’ve highlighted this week, ones that are causing harm to consumers.

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Debt in Mind makes it to Parliament!

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We made the call, and Parliament answered. Debt and mental health are linked!

Debt and mental health are linked

They say from small acorns can spring mighty oaks. Well, from our acorn sprung something seriously mighty indeed!

Our work alongside our friends at the Mental Health Foundation for Mental Health Awareness Week began as a simple belief that debt and mental health are intrinsically linked and that we should make more people aware of the connection between the two.

But not only have thousands of people been made aware of our Debt in Mind campaign, but it’s also attracted attention from those who can make real changes to better the lives of so many.

This morning we learned that the following statement was made in a motion tabled by Christina McKelvie at the Scottish Parliament yesterday:

“The Parliament recognises 13 to 19 May 2013 as Mental Health Awareness Week (and) congratulates StepChange Debt Charity on the launch of its new website, which examines the impact that debt and mental health problems can have on a person’s wellbeing…(and) commends the work being done by StepChange Debt Charity in aiding and guiding people with depression who are experiencing debt”.

So far the motion has been supported by 25 Members of the Scottish Parliament (MSPs). We’re very proud to receive such recognition and will continue to work alongside mental health charities to ensure that no one needs to deal with debt or mental health problems alone.

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How Samaritans can help you

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Samaritans are in your corner

Samaritans are in your corner

At Samaritans, we’re aware that people are feeling under increasing pressure over money. At the start of the current financial crisis in 2008, one in 10 of our calls was about money, debt and related issues. Since then, this figure has risen to one in six.

Although we know that worries about debt or the threat of losing a home can cause stress and depression, it’s important to understand that suicide is complex, and it is seldom the result of a single factor. It is likely to have several inter-related causes.

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Our debt advisor awarded best in the country!

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Hip hip hooray for our Trish!

Hip hip hooray for our Trish!

Leeds debt advisor Patricia Cassidy beat off tough competition to be crowned Debt Counsellor of the Year at the Credit Today Awards 2013

Patricia was there in person to collect her award at last night’s ceremony held at the plush Grosvenor House Hotel in London.

A panel of experts voted that she most consistently gave top notch debt advice, sympathetically dealt with difficult cases and worked to promote debt issues internally.

Competition was tough in a category with seven other nominees, including advisors from Baines & Ernst, ClearDebt, Christians Against Poverty and Debt Advisory Line.

But our girl won through and was rewarded for her tireless daily work helping people out of debt.

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