Paying your council tax falls into the top priority list of debts, so when you fall into council tax arrears, it is important to take steps to pay it back as soon as you can. Failure to do so could result in severe consequences as the council can apply to take unpaid council tax from you through your wages or salary, or you could even go to prison if you do not pay. Read this guide as we explain to you what council tax arrears is, what happens when you don’t pay your council tax and how you can get…
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No one wants to be in debt. One missed payment leads to another, and the struggle for money becomes more real before you realise it. Did you know that almost 25% of Brits are losing sleep over their financial situation? Not all of us are programmed to be frugal with our money, and some of us get more tempted to buy what we really can’t afford. A luxury holiday would be lovely, or a shiny new gadget may seem enticing, but the question is, will this also lead to a rocky road to debt? So, how can we avoid getting…
Have you ever received a default notice? If you’re struggling to pay your bills, it can be difficult situation. You might have missed payments or not paid the right amount. Your creditor may send you a default notice, also known as a Notice of Default (NOD). A default notice is recorded on your credit file and will stay there for six years. It could make it harder for you to get credit in future because lenders check your credit file when they decide whether to lend money to someone like you. Find out more about what it means to get…
An individual voluntary arrangement (IVA) is a formal procedure designed to allow those who are struggling with unsecured debts to create an orderly repayment plan. Failing to stick to the repayment plan for your IVA can result in your IVA being declared as failed, however, did you know that hiding your money from an IVA is also a criminal offence? In this guide, we will explain what it means when you hide your money from an IVA, the repercussions and how hiding your money from your IVA can affect your IVA agreement. Should I Hide Money from an IVA? When…
Embarking on the journey of finding the best IVA company the UK has to offer can feel like a daunting task. It should be tricky if you’re already struggling under the weight of debt. Fret not. This guide provides ten invaluable tips to help you pick the best IVA companies in the UK that will cater to your needs. Warren Marshall Last updated on 07 June 2023 Fact Checked Table of Contents 1. Quick recap: What’s an IVA debt solution? 2. Tip One: Be Aware of the Fee Structure of Best IVA Company UK 3. Tip Two: Look for the…
Are you in debt? Have been given a County Court Judgement (CCJ) by your debtors? A CCJ might sound like a worrying prospect but CCJ Discharged might be one of the ways to stop you from getting stung by a CCJ on your credit file altogether. In this guide we uncover what CCJ Discharged means, what happens if your CCJ is marked as discharged and all the other common questions relating to Country Court Judgements (CCJs). Charlie Walsh Last updated on 22 November 2023 Fact Checked Table of Contents 1. What is a CCJ? 2. Where can I find details…
Are you in debt and need help paying it off? We will reveal 10 ways you can increase your income which could help pay your debts. Paying your debts can be a stressful experience. There are various debt plans in place that can help you clear your debts. Before you start researching into what an IVA is or is debt consolidation the best option for you, have you considered that you might be eligible for additional income to help with your debt problem? There is no magic formula and unfortunately no magic money tree. Instead, we will show you 10…
There are numerous resources available for UK borrowers seeking debt assistance. From essential budgeting tips to comprehensive literature on various debt solutions, the information is vast. However, with the rise of misinformation, including the often-discussed “IVA loophole,” it’s crucial to discern fact from fiction. Before diving into any debt arrangement, it’s imperative to understand its implications. Many debt solutions can profoundly impact your life, so being well-informed is essential. Making an informed decision requires access to accurate and reliable information. Always consult credible sources and verify any information that influences your choices. At Money Advisor, we prioritize helping individuals make…
This is a comprehensive step-by-step guide to help you pay off your credit card debt. Within our 5 helpful stages, you’ll be guided through the best ways to clear your credit card debt so you can make those life-changing steps to financial freedom from your credit card. And what’s the best part? We won’t bore you with the statistics or lecture you about why you got into debt in the first place. Instead, we will provide you with simple and actionable ways to pay off your credit card debt fast. It’s time for the first step: Step 1: Budget Like…
Finding it difficult to keep track of multiple credit repayments? You may be able to manage your debt better through debt consolidation. Debt consolidation is one of the many debt refinancing solutions in the UK. It is ideal for people who wish to sort out their debt issues by simplifying their repayment schedule. A debt consolidation loan is a personal loan that you take out to repay your existing debts. Debt consolidation involves moving and combining all or some of your current debt into a single new account. That means your debt will not vanish, but it will be all…