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Following the Bank of England’s warning that consumer borrowing over the last year has been soaring, and lenders face action for irresponsible lending, there is a growing risk of a tsunami of consumer indebtedness once again sweeping across the UK.  Unsustainable debt causes major problems and misery for individuals and their families, and is a costly burden to society. Everyone is better off if bankruptcy can be avoided.  We consider an effective debt management solution – the Debt Arrangement Scheme (DAS) – that could provide help to many more people looking to find a way out of their debt problems....

When it comes to tackling debt, the first step can be the most difficult. After you decide once and for all that it’s time to pay off debt, what do you do next? Seeking advice is the best course of action in any debt situation. At Don’t Fret About Debt we provide confidential, expert advice on the best way to proceed in paying off debts. This article should give you a head start in understanding your debt. There are so many different types of debt and each has its own associated jargon – creditors can make it difficult to understand...

When your debts reach an unmanageable level it’s natural to seek help to deal with them however it’s surprising how many people put off dealing with their debts through an official channel, for fear of what impact it will have on their credit report. Surely getting out of debt and not having to struggle pay packet to pay packet and regaining a reasonable standard of living is more important than keeping that gold plated credit file? It appears not. Sometimes however, you’re doing just as much damage to your credit file and people are surprised when they have a low...

Do you experience dread or feel a bit queasy when you think about your debts? Or worse, find it hard to sleep at night because of worrying about them? If so, you’re not alone. Debt has a nasty habit of making its victims suffer from stress, anxiety and even depression, all of which in turn can lead to sleep problems. If your debts are weighing heavily upon you, it’s probably for a good reason. Your subconscious mind could be telling you that “things aren’t right” with your finances. You might already be witnessing some warning signs like feeling guilty when...

When you’re trying to pay off debt, the last thing you should be doing is spending lots of money on presents. That might sound harsh (or even a bit mean), but the reality is that the more you spend money on things other than your debt, the longer you’ll be in debt for. Source What you should be doing and what you want to do however, are two very different things. Maybe you just enjoy gift giving? Or at the very least, you probably feel obliged to reciprocate when someone gives a gift to you. So is it possible to...

School holidays can bring about tears of joy or tears of frustration – and that’s just the parents! The last thing we need to be hearing is that over-used phrase ‘I’m bored, there’s nothing to do’ (said with an eye roll thrown in for good measure). While most of us will love having the children home for a week or more it can be an expensive week when school is on a break. It therefore makes sense to have a plan and look at how you can give them some treats but not break the bank. Here are some tips in...