Banking to Finance

If you are in serious debt and are being pursued by creditors and debt collectors, then it’s important that you know your rights. Equally a debt solution such as an IVA (Individual Voluntary Arrangement) or Debt Management Plan could be a way of protecting yourself from these people whilst also sorting out your debts.

Talk to the Debt Advice Trust, a registered UK not for profit organisation, and we’ll provide you with honest, impartial advice so that you know exactly where you stand in relation to your debt situation.

Fair and unfair practices

All creditors and debt collectors are expected to follow the Office of Fair Trading’s (OFT) guidelines (Debt Collector Guidance, July 2004), otherwise they risk losing their Consumer Credit Licence. These guidelines cover a range of issues to protect you from being exploited by creditors or becoming prey to unfair practices. If you think this may apply to you then call the Debt Advice Trust today for help on what to do.

Paying off your debts

Of course knowing your rights isn’t about trying to avoid paying off your debts. But you may need protecting from some over-zealous creditors should your debts become too unmanageable for you and they want their money back come what may! That’s why it’s far better to take action before things come to a head by calling the Debt Advice Trust for expert advice on a debt solution that’s right for you

Debit is an ever increasing concern and we have the best tips to avoid digging yourself into a deep financial hole.

1. Live within your means

One of the biggest factors in personal debt is money managment and living within your means. Plan a budget and keep track of all incomings and outgoings. Try and stick to buying things that you need rather then just things that you want!

2 . Cut up Credit cards

if you can, stay well clear of credit cards. If you already have them then stop using them NOW! If you dont have the money to buy something then dont buy it. Credit cards are the fastest way to debt if your not being careful.

Read more: How to Avoid Debt