As predicted in my blog on the 15th June http://thoughtondebtmanagement.blogspot.com/2009/06/secondary-wave-of-recession.html
There is beginning to be a shortage of cars. Read the article below for details:
http://news.bbc.co.uk/1/hi/business/8200087.stm
Friday, 14 August 2009
Monday, 6 July 2009
What do you do if you are turned down for an IVA?
Debtaid can help ! Just give them a call (www.debtaid.ltd.uk)
Monday, 15 June 2009
Secondary wave of recession
The patterns of the recession are desperately difficult to predict but with the press starting to suggest the recession is getting better I cannot see this myself.
With the general conditions in the financial markets stabilising this may be the case for the big end of the market but I think in the small end the true force of the recession has yet to wash through.
The general public seem to be cutting back in many areas but I wonder how long it will take for there to be a shortage of for example: cars, as no one seems to be buying them new. A shortage will mean stronger prices for used cars and less people being able to afford them. Maybe not a bad thing in the long run, but I think not everybody is ready for this...
With the general conditions in the financial markets stabilising this may be the case for the big end of the market but I think in the small end the true force of the recession has yet to wash through.
The general public seem to be cutting back in many areas but I wonder how long it will take for there to be a shortage of for example: cars, as no one seems to be buying them new. A shortage will mean stronger prices for used cars and less people being able to afford them. Maybe not a bad thing in the long run, but I think not everybody is ready for this...
Tuesday, 2 June 2009
Splitting up caused by debt. Two Birds with one stone.
It always amazes me how many people we help here at Debtaid who have split from their relationship because of the debt they are in.
This cycle of debt gets even worse when both people are living apart because it is so much more expensive to live alone.
In most cases simple advice is all that is needed to sort out the initial debt problem and therefore save the relationship. We ask "would there be a problem without the debt" the answer is usually "no". The gradual build up of debt forces pressures on relationships eventually which can be difficult to control.
The other point people are worries about is being responsible for the partners debt. This is simply not the case and even if they are married those debts remain the responsibility of the individual named on the account.
It's a good feeling to sort out the debt and therefore eliminate the problems in a relationship, and it can all be done very easily in most cases. There are loads of advice lines about including Debtaid (Freephone 0800 0722 332) if this sounds a familiar situation pick up the phone and kill two birds with one stone.
This cycle of debt gets even worse when both people are living apart because it is so much more expensive to live alone.
In most cases simple advice is all that is needed to sort out the initial debt problem and therefore save the relationship. We ask "would there be a problem without the debt" the answer is usually "no". The gradual build up of debt forces pressures on relationships eventually which can be difficult to control.
The other point people are worries about is being responsible for the partners debt. This is simply not the case and even if they are married those debts remain the responsibility of the individual named on the account.
It's a good feeling to sort out the debt and therefore eliminate the problems in a relationship, and it can all be done very easily in most cases. There are loads of advice lines about including Debtaid (Freephone 0800 0722 332) if this sounds a familiar situation pick up the phone and kill two birds with one stone.
Wednesday, 20 May 2009
The important things
It is difficult when in debt to weed out the unimportant goals. Focusing on controlling the problem is key to achieving the best outcome.
Allot of people get hung up on gaining an official acceptance while in a debt management plan. While this is a great goal to go for it is not the be-all and end-all. The main aim should be firstly to control the balance so it does not get any bigger.
As long as the interest and charges have been stopped does an official acceptance of any lowered repayment matter? I say not.
It is often necessary to alter your way of thinking when dealing with banks and debts, a harder approach to the actual figures and thinking about how you force banks to do things rather than them forcing you to do things. The banks have been built up as an authority figure in the public's mind but remember they are just a business selling a product.
The public is protected by the Law (generally to the detriment of the Banks) so when a Bank next asks you to do something, think whether you want to do that thing. If you are unsure, get some advice. There is lots of free advice out there, Debtaid Ltd (www.debtaid.ltd.uk) can provide this and there are many more arrears of advice that can and should be looked at.
Allot of people get hung up on gaining an official acceptance while in a debt management plan. While this is a great goal to go for it is not the be-all and end-all. The main aim should be firstly to control the balance so it does not get any bigger.
As long as the interest and charges have been stopped does an official acceptance of any lowered repayment matter? I say not.
It is often necessary to alter your way of thinking when dealing with banks and debts, a harder approach to the actual figures and thinking about how you force banks to do things rather than them forcing you to do things. The banks have been built up as an authority figure in the public's mind but remember they are just a business selling a product.
The public is protected by the Law (generally to the detriment of the Banks) so when a Bank next asks you to do something, think whether you want to do that thing. If you are unsure, get some advice. There is lots of free advice out there, Debtaid Ltd (www.debtaid.ltd.uk) can provide this and there are many more arrears of advice that can and should be looked at.
Monday, 18 May 2009
Confusion? Take it one step at a time
Debt is a strange word, and it is not the first one that comes into peoples minds when money problems start. So what is the first word describing it?
I've been advising people on debts since 2000 and on first contact people usually ask where they can get a loan to cover the arrears and reduce the ongoing monthly repayments. At first glance this is the initial way to deal with a small deficit with repayments, there are very few who can make this work. The reason is that the affordability gap is usually wider than refinancing allows. See its started to get confusing already.
The first step is to get a bucket load of adivce, like a supermarket sweep. You will get a lot of stuff you may not need but the gem you find at the bottom of the trolley will be of great value! Start shifting through the advice you think is best and keep asking.. it should become obvious who is going to help you the most and which advice agency you like dealing with. Don't pay for any of this advice just keep asking lots of different sources. There are big ones, small ones, start ups and aged ones. Compare them all.
Where I work at Debtaid we work on the basis that if we give great advice people will keep using us. Debtaid Ltd give free advice and can even do a free debt management plan for you on the phone, no obligation. Ideal for comparing to all the other advice people should be shifting through! www.debtaid.ltd.uk
I've been advising people on debts since 2000 and on first contact people usually ask where they can get a loan to cover the arrears and reduce the ongoing monthly repayments. At first glance this is the initial way to deal with a small deficit with repayments, there are very few who can make this work. The reason is that the affordability gap is usually wider than refinancing allows. See its started to get confusing already.
The first step is to get a bucket load of adivce, like a supermarket sweep. You will get a lot of stuff you may not need but the gem you find at the bottom of the trolley will be of great value! Start shifting through the advice you think is best and keep asking.. it should become obvious who is going to help you the most and which advice agency you like dealing with. Don't pay for any of this advice just keep asking lots of different sources. There are big ones, small ones, start ups and aged ones. Compare them all.
Where I work at Debtaid we work on the basis that if we give great advice people will keep using us. Debtaid Ltd give free advice and can even do a free debt management plan for you on the phone, no obligation. Ideal for comparing to all the other advice people should be shifting through! www.debtaid.ltd.uk
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