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Is there an age limit for IVAs or debt management?

Mon, 15 Mar 2010 10:17:55 GMT

There are a number of debt solutions available for people in various situations. For people with unmanageable levels of debt, two of the most common debt solutions are IVAs (Individual Voluntary Arrangements) and debt management plans.

Full article: Is there an age limit for IVAs or debt management?
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Women `less likely to build up debt` than men

Fri, 12 Mar 2010 11:40:5 GMT

According to research by lovemoney.com, women `are better at budgeting and keeping track of their spending and are less likely to build up debt on a credit card or a loan` than men, the Daily Mail reports. The research found that fewer women than men ignore their mounting debts, pay bills late or forget to pay them altogether. And they make more of an effort to repay any debts they have, while men prefer to make the minimum payments towards their debts each month.

Full article: Women `less likely to build up debt` than men
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Cost of mortgage debt falls to six-year low

Fri, 12 Mar 2010 11:42:44 GMT

According to figures from the Bank of England (BoE), the average interest rate charged on two-year fixed-rate mortgages fell to its lowest level in six and a half years, The Independent reports. The average cost of a two-year fixed-rate mortgage fell from 3.97% in January to 3.88% in February - its lowest level since July 2003.

Full article: Cost of mortgage debt falls to six-year low
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Universities push for change in student loans system

Fri, 12 Mar 2010 16:27:7 GMT

According to an article in the Daily Mail, `top universities` are calling for middle-class student loans to be scrapped - a move that could add more than £1,000 to the annual cost of a degree course. The universities believe that the current student support system is `far too generous` and needs to be focussed on `the poorest`. In light of this, evidence has been submitted to the Government`s review of higher education funding by former BP boss Lord Browne.

Full article: Universities push for change in student loans system
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IVAs explained

Fri, 12 Mar 2010 17:32:13 GMT

For people having serious difficulties with their debts, one option is an IVA (Individual Voluntary Arrangement): a legally-binding debt solution that could help you to clear your debts within five years.

Full article: IVAs explained
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Should I switch my mortgage?

Thu, 11 Mar 2010 10:15:9 GMT

With average mortgage rates a fair bit lower than they have been in recent years, switching your existing mortgage deal to a cheaper one could save you a lot of money.

Full article: Should I switch my mortgage?
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Cost of mortgage debt at six-year low

Thu, 11 Mar 2010 15:43:37 GMT

The average interest rate on a two-year fixed-rate mortgage fell to its lowest level in six-and-a-half years in February, according to the Bank of England. The average rate stood at 3.88% in February - the lowest since July 2003 - down from 3.97% in January.

Full article: Cost of mortgage debt at six-year low
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Millions `could benefit from switching bank account`

Thu, 11 Mar 2010 15:54:53 GMT

7 out of 10 Britons have not changed their main bank account since 2000, according to research from Santander, meaning they are potentially missing out on higher levels of interest. Meanwhile, 24% have switched insurance provider in the last year, while one in five have switched their gas, electricity or water supplier, according to the research.

Full article: Millions `could benefit from switching bank account`
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How much can I afford to pay towards my IVA?

Thu, 11 Mar 2010 16:23:11 GMT

If your debts have become completely unmanageable, you`ll want to find a debt solution that can bring your debt repayments down to an affordable level.

Full article: How much can I afford to pay towards my IVA?
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Cutting costs to help with debt

Wed, 10 Mar 2010 17:27:43 GMT

When your debts start to cause you problems, the first thing you`ll want to do is look at where you can cut back and make more room for your repayments.

Full article: Cutting costs to help with debt
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Number of savers `on the rise`

Tue, 9 Mar 2010 17:37:39 GMT

The number of people regularly or occasionally putting money into savings has risen again, according to Nationwide. In its Savings Index report for February, 80% of consumers described themselves as either regular or occasional savers. This is the highest figure since May 2008.

Full article: Number of savers `on the rise`
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Struggling with debt: debt management plans

Tue, 9 Mar 2010 17:46:35 GMT

Struggling with debt is never a good situation to be in, and if you find yourself in trouble, you`ll want to find the best way of clearing your debts.

Full article: Struggling with debt: debt management plans
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What protection can an IVA offer?

Mon, 8 Mar 2010 16:30:9 GMT

An IVA is a legally-binding agreement with your lenders in which you`ll repay as much of your debts as you can afford over an agreed period of time, after which the rest of your debt will be written off.

Full article: What protection can an IVA offer?
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Only one in three `confident about pension income`

Mon, 8 Mar 2010 17:34:40 GMT

Only one in three (34%) of working people believe their pension will give them a big enough income in retirement, according to new research from the National Association of Pension Funds (NAPF). The research also looked at what would make workers more likely to save into a pension. 27% said they would be more confident in saving if they could be sure they wouldn`t lose any of the money paid in. A further 26% said they would like a guarantee that their pension would not run out before they died.

Full article: Only one in three `confident about pension income`
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Homeowners urged to consider mortgage options

Mon, 8 Mar 2010 17:37:34 GMT

Homeowners could end up paying more than necessary if they rush for fixed-rate deals when the base rate begins to rise, mortgage brokers have warned. According to The Guardian, economists and mortgage market analysts are predicting a gradual rise in mortgage rates over the next couple of years.

Full article: Homeowners urged to consider mortgage options
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Is debt management better than bankruptcy?

Sun, 7 Mar 2010 16:19:37 GMT

Some people automatically think of bankruptcy when it comes to clearing unmanageable debt, but debt management plans and other debt solutions have given borrowers a range of options. But are the alternatives always better than bankruptcy?

Full article: Is debt management better than bankruptcy?
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What is an IVA `notice of breach`?

Sat, 6 Mar 2010 16:7:56 GMT

If you miss a number of IVA payments (typically three), you will usually receive a `Notice of Breach`: a formal notice telling you that you have breached the terms of your IVA.

Full article: What is an IVA `notice of breach`?
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How to get a better credit rating

Fri, 5 Mar 2010 13:19:14 GMT

Your credit rating is a very important factor when it comes to borrowing money. It helps determine whether you`re likely to be offered a loan - and if you are accepted, it can also have an impact on the interest rate you`re likely to be offered.

Full article: How to get a better credit rating
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Second `big six` supplier cuts gas prices

Fri, 5 Mar 2010 13:22:3 GMT

Scottish and Southern Energy has announced it will cut its gas prices by 7% at the end of this month, in a move that will shave £56 off the average annual bill. On its dual fuel package, which combines gas and electricity, gas prices will be cut by 4%.

Full article: Second `big six` supplier cuts gas prices
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`Green loan` energy plan unveiled for homes

Fri, 5 Mar 2010 13:27:23 GMT

Government ministers have announced plans to encourage homeowners to make their homes warmer and cheaper to run, through the use of a `green loan`, the BBC reports. Homeowners will be offered long-term loans to pay for insulation, solar panels and other energy-efficient technology. They will then make repayments to their loan `through energy bills`.

Full article: `Green loan` energy plan unveiled for homes
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