Debt that’s not dealt with can lead to repossession
National money education charity, Credit Action, has reported that the average household debt in the UK is on the rise, as the rate of repossessions goes up.
The fact that more repossessions are taking place implies that more households are struggling to make ends meet. If you find yourself in debt, it’s important not to ignore the problem, but to take action straight away.
Turn Debt Around can help with impartial, no strings debt advice, and we can also facilitate a range of debt solutions.
Whatever your financial situation, making – and sticking to – a budget can be a powerful tool to help you reach and maintain your financial targets.
If you are in debt and need to cut costs, or if you are trying to save up for something important, like your first flat or the holiday of a lifetime, a budget can significantly increase your chances of getting there.
It may seem obvious, but putting your outgoings and income in black and white (or red, as the case may be) on a spreadsheet can be extremely helpful in realising where you might be able to make savings, or how you could shift expenses around to cut down your spend.
Do you receive tax credits? If so, beware of scam emails from fraudsters who want to get their hands on people’s credit card details and passwords.
The HMRC (HM Revenue & Customs) has warned that around 22,000 so-called ‘phishing emails’ were reported between April and July last year, by people who receive tax credits.
It’s expected this trend will continue during this year’s tax credit renewals period, and the HMRC has stated that they never ask for personal / payment information via email, so any such messages are likely to be fraudulent.
It’s taken us a bit longer than anticipated to get everything set up, but following the closure of our old blogging platform Posterous at the end of April, our shiny, new WordPress blog is finally up and running!
We will continue to post weekly blog updates about money, personal finance, debt, debt solutions and the economy. We also enjoy sharing good money-saving tips and ideas, so watch this space – or subscribe to our blog to make sure you get all our updates!