Tag Archives: free debt advice

10 myths about IVAs

posted by in Living with debt Leave a comment

iva myths

Did you hear the one about ‘writing off up to 80% your debts’? We have too. Unfortunately some of the myths about Individual Voluntary Arrangements (IVAs) can have very little to do with the reality.

These myths can confuse people considering an IVA as a solution to their debt problems, and those living on one. We’re here to help.

Let’s look at the most common misconceptions about IVAs and the facts behind the myths:

Continue reading »

Tags

5 services you can use right now to help you deal with debt

posted by in Living with debt Leave a comment

If you need help with your debts, you might be surprised to learn that there are lots of tools and services out there that can make the whole process just a bit easier.

In fact, we have five such services on the StepChange Debt Charity website and through our friends at Money Advice Service! Let’s check ‘em out…

Continue reading »

Tags

Customers of these three debt management firms should call their creditors now and seek free debt advice

posted by in Living with debt Leave a comment

If your debt management firm's closed down, we can help

If your debt management firm’s closed down, we can help

Yesterday morning, The Financial Conduct Authority (FCA) warned the customers of three debt management firms to contact their creditors and find out exactly what they owe on their debts.

The debt management firms in question are Sterling Financial Security Limited (Sterling), Haydon Associates Debt Management Consultants Limited (Haydon) and Clear View Finance Limited (Clear View), all based in Lichfield.

Most customers of these firms have had 90% of their monthly payments deducted in fees, meaning that only 10p out of every pound they were paying was actually going towards their debts.

The FCA have announced that these firms have failed to comply with the requirement to provide regular written balance statements to customers. As a result, the FCA has withdrawn permission for them to offer debt management services or set up new debt management plans.

Continue reading »

Tags

Don’t make the wrong decision when you need debt help

posted by in Living with debt Leave a comment

Couple counting out money

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. This can be due to having too many payday loans, spending too much on credit cards or any number of other reasons.

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?

Continue reading »

Tags