Understanding Your Credit File Here are some money tips that suggest your credit file rating could suffer as a result if you not understand what credit file terms are all about. It can be hard to navigate the credit minefield, which is littered with technical credit file terms and governed by rules that many...
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Getting a mortgage is going to be a lot tougher – particularly for people with a less-than-perfect credit history or anyone whose income has previously been self-certified. The money saving expert recently heard the account of a lady who had missed one credit card payment and a council tax payment in the last twelve...
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The United Kingdom personal debt today stands at £1,458 billion and the government intend to increase their debt to £175 billion this year and similar figures for the next three years. The latest figures available from Credit Action this month suggests that the average household debt is £59,765 including mortgages, £1.02 billion will be...
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According to a recently published article by the Financial Services Authority (FSA) on the latest mortgage lending statistic they reported a sharp surge in mortgage arrears. With borrowers continuing to struggle to clear their mortgage arrears, the numbers of arrears have been progressively increasing since the beginning of 2007. By the end of 2008...
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The Credit Crunch has come and gone in the last year. America, Europe and the United Kingdom have acknowledged that their economic indicators have confirmed that they are now in a recession. Japan the second largest economy in the world has confirmed they are now in recession. The Confederation of British Industry (CBI) estimates...
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Technically we are told by the government that we are in a recession when we have two quarters of negative growth in our economy. Mervyn King the Governor of the Bank of England has just admitted that we are entering a recession. It’s funny that most of us have known for the last six...
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We are generally apprehensive of the unknown and this is true of contacting debt Management organisations as we don’t know what to expect. When you have made contact with a Debt Management charity you should then be put through to a debt management advisor. The debt advisor will assess your current personal financial situation...
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Home repossessions in the UK are at a 12 year high. The recently privatised Northern Rock Bank is repossessing 50% more homes than the mortgage industry average. Ouch! In order to avoid repossession you need to talk to your mortgage lender as soon as you realise that you cannot afford your mortgage payments. The...
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If you are at this stage you have buried your head for long enough. The demand letters just keep on arriving daily and you are now on first term names with the guys and girls at the mortgage, loan and credit card collection departments. What ever you do don’t stop paying your mortgage. Talk...
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We have all watched as our government has bought a share in the Royal Bank of Scotland (RBS), Lloyds TSB, Halifax and then they privatised the Northern Rock and Bradford and Bingley. They have given these banks a life-line. But what life-line have they offered the rest of us? Some people are struggling more...
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