One Advice | Bankruptcy, IVA & Debt News

It seems that many of us are willing to fund our next car with a car loan. UK consumers are falling pray to the credit crunch, as 27% of those who intend to buy a vehicle will use car finance to cover some of the cost.

According to the Sainsbury’s Finance Car Buying Index, 18.4% of the total amount spent on buying vehichcles will be covered through a car loan. UK car finance will total around £9.14 billion. This is a drop of £0.5 billion as the number of people planning on buying cars hits a three year low, probably due to the credit crunch and debt worries.

Steven Baillie, Head of Loans, Sainsbury’s Finance said: “”We’ve been conducting our car buying index now for five years and our findings reflect the economy’s current uncertainty, with one million fewer potential car buyers than 12 months ago.”

If you are looking to become debt free, you may feel daunted about how to go about finding a debt solution. If your debt has grown to a level where it is unmanageable and you feel as though it is a struggle to even meet the minimum monthly payments it is essential that you seek debt advice.

Becoming debt free is rarely simple – and it is much harder to dig yourself out of debt than fall into the cycle of mouting debt. But seeking professional debt advice is the perfect way to start the journey of becoming debt free and repaying your debt. One Advice are a financial solutions company who can help you deal with your debt in the best way possible. Our debt solutions include:

Debt Management Plan

• Informal arrangement between you and your unsecured creditors.
• Repay your debts at a level you can afford.
• One smaller monthly payment to make.
• Interest rates and charges could be frozen.
• Suitable for those with unsecured debt levels under £12,000.

IVA (Individual Voluntary Arrangement)

• Legally-binding agreement betwe.en you and your unsecured creditors.
• Make lower monthly repayments
• Debt free in as little as 60 months.
• Avoid bankruptcy and keep your home.
• Suitable for those with unsecured debt levels over £12,000.

For more information about how to become debt free and for more information about our range of debt solutions, call One Advice today on freephone 0800 048 1752.

Student debts have now reached £22 billion, up £4 billion in just a year, according to new reports. This figure is £1billion more than the Government’s entire transport budget!

The NUS (National Union of Students) have warned that students will graduate from university with debts of up to £40,000, and the worries are that these debt levels could limit the life options for many graduates, meaning that many graduates could be seeking additional debt advice as they try to secure their future.

Universities spokesman for the Liberal Democrats, Stephen Williams, said: “Students are facing unprecedented levels of debt, which will have a dramatic long-term effect on their ability to buy homes, start families and save for old age.”

If you find that you are struggling with your debt then you need to get some form of debt help.

Nowadays it can be too easy to get credit for that new car or item of clothing that you must have! It is important that you get help for you debt, before it starts spiraling out of control.

How we can Help with Debt:

We offer many solutions to help those that are struggling with debt.

If you have low levels of debt, typically under £15,000 and want a way to reduce your monthly outgoings to your creditors, then a Debt Management Plan may be the answer. You will just pay one monthly amount to us and we will distribute that between your creditors. We will negotiate with creditors to try and get any interest or charges frozen.

If you have high levels of debt split between various creditors and you struggle to pay back even the minimum payment, then you might want to consider an IVA (Individual Voluntary Arrangement). IVA legislation was introduced by the Government as a more practical alternative to bankruptcy. It works in a similar way to a Debt Management Plan, but it is legally binding with your creditors and any unaffordable debt is automatically written off on completion of the agreement!

If you need Debt Help then it is important that you seek expert debt advice. Here, at One Advice, we have a team of fully qualified advisors that are here to help you with your debt problems.

They will guide you through your potential debt solutions by taking details of your finances and will help you to find the best option for your individual circumstances. Please contact us today for free debt help and advice on 0800 048 1752.

Still considering what debt solution is right for you? Take the 1 Minute Debt Test to see what options are available.

If you are feeling stressed because of the amount of debt that you owe then you might think that it is impossible for you to become debt free – But we can help. One Advice are able to offer a number of debt solutions to suit your circumstances so you can look forward to a debt free future.

If you want to become debt free then it might be worth looking at the amount of unsecured debt that your owe. Unsecured debt is lent without being secured against any of your assets, therefore it is usually at a much higher interest rate. Unsecured debt includes:

• Personal Loans
• Credit Cards
• Store Cards
• Overdrafts
• Catalogue Debts

If you are finding these payments a monthly struggle and your outgoings are starting to match your incomings, then you need expert debt advice.

Debt Free Solutions:

We have a team of expert advisors who can go through your finances to help you find your best solution to becoming debt free. There are many ways that you could begin your debt free path, for example:

Become Debt Free with a Debt Management Plan.
You can consolidate your debt with a Debt Management Plan where we can arrange one low monthly payment to your debt which is designed to relieve any financial burden.

Become Debt Free with an IVA.
If your unsecured debt level is over £15,000 then you might want to consider an IVA, which is Government introduced legislation designed to write off any debt that you can’t afford.

Please remember that our professional debt advisors are on hand to offer you free debt help and advice on how you can become free of debt, call us today on freephone 0800 048 1752.

If you are looking to become debt free, you have come to the right place! We help our clients become debt free through a range of debt solutions.

Our advisors are on hand to offer free debt advice. We will go through your finances and help you to find a debt free solution that is right for you. So don’t delay, call One Advice today on 0800 048 1752.

How Can We Help You Become Debt Free?

There are a number of ways that you can become debt free, and we are here to offer free debt advice and information. We can help you:

• Reduce your monthly payment.
• Write off unaffordable debt with an IVA.
• Reduce the length of time you need to repay a debt.
• Get free debt help and advice.
• We deal with creditors phone calls and letters on your behalf.
• Find a way for you to avoid bankruptcy.
• Become debt free in 60 months with an IVA.
• Freeze interest and charges if possible.

For expert help on a range of debt matters please contact our debt advisors. They will work closely with you to find the right debt solution for your circumstances.

Remember, you can be debt free with our help, no matter what you level of unsecured debt. Call free today on 0800 048 1752 or take the 1 Minute Debt Test.

If you are looking at ways to become debt free, it is important that you get your finances in order. Although a Debt Management Plan, Trust Deed or IVA are ways to become debt free, there are those debts which cannot be included in your agreement.

For more information, contact One Advice on 0800 048 1752 or take the 1 Minute Debt Test to see what debt solutions are available for you.

Different Types of Debt:

Unsecured Debt: Unsecured debt is the most common cause of a debt problem but the good news is that unsecured debt can be included in your debt solution plan.

Types of unsecured debt include personal loans, credit cards, store cards and catalogue debt. Unsecured debt is usually lent at a higher interest rate as there is no security for the lender.

Secured Debt: This type of debt means that it is secured against your assets, most commonly your home. Failure to keep on these repayments means that your home is at risk of repossession and it will be sold in order to pay back the creditor.

Secured debt includes mortgages, hire purchase and secured loans.

Priority Debt: Priority debt means exactly that, they are priority debts which must be dealt with first and paid above all your other debts. Although making repayments on time is important for all debt, there will be more severe consequences if you fail to make keep up on your priority debt repayment.

Failure to pay the priority debts means that the creditors can take you to court and send bailiffs to your home to repossess goods. In extreme cases the court can repossess your home, declare you bankrupt or send you to prison.

Priority debt includes mortgage payments, rent payments, council tax, child support and utility suppliers such as electricity, water and gas.

For further information about the types of debt that One Advice can help with, please contact one of our debt advisors on 0800 048 1752.

One Advice can offer you free debt advice and information on ways that you can become debt free. No matter how much debt you owe, our expert debt advisors are on hand to help. We specialise in a number of leading debt solutions such as debt management plans, trust deeds or IVAs.

Free Debt Management Plan Advice:

A Debt Management Plan is an informal agreement with your creditors. It offers you one low monthly payment to all your unsecured debts. A debt management plan is most suitable for those with lower debt levels who are looking for an easier way to manage their outgoings to their unsecured creditor commitments.

A debt management plan can offer you a reduced monthly payment and creditors are sometimes willing to freeze any additional interest or charges.

Free IVA Advice:

Our IVA advisors can help you to discuss your financial circumstances and see if an IVA is your best debt free solution. An IVA is the only debt solution (except bankruptcy) which offers you a level of debt write off, as you only pay back what you can realistically afford to.

An IVA (Individual Voluntary Arrangement) is a legally binding agreement between you and your creditors. If you have debt over £15k then an IVA could be the perfect way for you to become debt free. You are protected from your creditors and you can keep control of your assets. Unaffordable debt will be written off on completion of your IVA, and you make affordable monthly payments over an average period of 60 months.

Debt Free Advice

For instant free debt advice, you need to get in touch with our team of expert advisors. To contact us directly, please call One Advice on 0800 048 1752. We can offer you free debt advice and talk through your potential debt solutions.

Not sure which debt solution is right for you? Take the 1 Minute Test. Answer just a few easy questions to discover which debt solution is right for you.

Money worries can come in all shapes and sizes; what you may realise as a money worry others may brush under the carpet or visa versa. Some people don’t even look at the value of their debt when contemplating their money worries, some may decide that not having enough savings mean their personal finance or debt management skills are a bit slack.

If you can afford your debt repayments you may not see debt as a problem, and you are quite happy to make the minimum payment and not worry about the interest and charges being added or how it eats into your disposable income.

Dealing with debt is never easy especially when to the level where it is unaffordable and your incoming never quite match up with your rate of outgoings.

If you believe that you are struggling with money worries you will be glad to know that there are a number of debt solutions available, and One Advice can help. We have a range of debt solutions on offer which means we can find the one which best suits your circumstances.

There is not just one debt solution which covers all, and it is about getting advice with is tailored for you. We understand that everyone has their own unique money worries. For further information, please contact One Advice today or take the 1 Minute Debt Test to discover your debt solution.

Want an easy way to get debt advice and take control of your personal finances? If you own an iPhone or an iPod Touch you should be taking advantage of a number of free financial applications which are all designed to help you get the most of your money.

iXpense - Are you one of those people who is unsure about where their money goes at the end of the month? The free version of the iXpense could help you keep track of your daily expenses, and because you are on the move you have no excuse of not updating an online money management tracker.

It splits your spend into categ0ries where you most spend your money and the application will highlight key areas where you can cut down on frivolous spending. Again, use this extra cash to repay your debts that little bit quicker.

ATM Hunter – How annoying is it to find yourself strapped for cash and the only obvious solution is a standalone cash machine which charges you for the privilege of withdrawing your own money?

Well, this costly problem could soon become a thing of the past with the ATM Hunter application which will find the closest ATMs in your area using GPS. Even if you don’t mind paying £2 a time to withdraw your cash, you might be staggered to know that this could cost you over £104 a year  which you could put towards your debt repayments.

Currency – Not sure how much dollars you can get for your pound whilst away? Don’t pay over the odds due to confusion with fluctuating currency exchange rate. This app has access to over 100 countries, so no matter where abouts in the world you are, you can get the true purchase price instantly.

Know any more apps to handle your finances? Or are there some apps which cost a little to purchase but have changed the way that you handle your debt? Please share with our readers and comment below.

If you have debt problem you are probably hoping you can find a way that will write off all your debt. Although we can’t wave a magic wand and say goodbye to your debt (we wish we could!) there are ways that you can write off the debt that you cannot afford.

Become Debt Free with an IVA

An IVA (Individual Voluntary Arrangement) with One Advice  can help you write off unaffordable debt. As long as you keep up on your repayments, you will become debt free in 60 months. It is most suitable for those who owe large amounts of debt to a number of different lead sources, always ensure you get expert debt advice about the right debt solution for your circumstances.

An IVA is a formal agreement with your creditors, where you make monthly payments to your creditors based on your personal circumstances. At the end of the agreement any remaining debt is automatically written off.
As well as writing off debt, other benefits include:

• Interest and charges frozen on your debt.
• Creditors cannot continue legal action (Although if you fail to make repayments Bankruptcy proceedings can start against you).
• You make 60 monthly payments then you are debt free.
• Monthly payments are based on your finances, so you only pay a monthly amount that you can afford after living expenses have been deducted.
• You will not have to sell your home, unlike Bankruptcy.

See If You Qualify to Write Off Debt

The best way to see if you can write off your unaffordable debt is to get in touch. Our expert debt advisors are on hand to offer your free help and advice on how to write off your debt and see if you qualify for an IVA.

Or take the 1 Minute Debt Test which will show you what debt solutions are available to you.

Dealing with your debts may not be the easiest thing, especially in the current economic climate where more and more people are struggling to deal with their debts and make ends meet on a daily basis. It is important that you take action now and ensure that you commit to dealing with your finances and taking greater control over where you money is going.

This means getting a budget, and one that is realistic. Even worse than not budgeting is having a budget that you cannot stick to, as this will provide you with no motivation to continue to deal with your finances if you feel as though it will automatically fail. But, when done right, budgeting is the first port of call to try and get your debt management under control and start dealing with your debts.

Take control of your money by beginning to track everything you are spending your hard-earned cash on. The easiest way to do this is to keep a file of everything that you spend and write down each transaction, or ensure that you keep a receipt of every purchase that you make. This may sound like a low-tech solution to dealing with your debts but it can be quite an effective method, as long as you ensure that you include every single thing.

On top of this, make sure that you take advantage of online banking. Regularly seeing your bank statements can help you see where you are spending you money, meaning that you can easily see the places where you need to cut back on.

Dealing with your debts can include creating a household budget. Ensure that you set aside enough money to meet your essential priority debts, such as mortgage payment and utilities. Also, if your finances can stretch to it, it makes sense to have a little bit of money in a reserve in case of any unforeseen financial emergencies.

Of course, dealing with your debts may mean that you take a multi-attack method. If budgeting doesn’t help because you do not have enough money to cover your unsecured debt repayments, you may wish to see what options there are to reduce the amount that you need to repay to your debt. One Advice are here to help, and there are a number of debt solutions available so we are confident we can find an ideal debt solution for almost any circumstances, for example:

Debt Management Plan: This allows you to make one single payment to your debt each month without the need to take out any further loans. The new repayment that you are making to your debt management plan should be lower than your current payments, meaning that you may find dealing with your debts easier on a monthly basis. It is likely that making reduced payments to your debt means it will take you longer to become debt free, but you will find your debt less of a struggle in the short term.

This type of plan is not the only way to go about dealing with your debts, as there are a number of debt solutions and the right one for you is dependant on your individual circumstances. Always ensure that you get professional debt advice, as this can really help get your finances back on track and allow you to regain control of your money.

It seems as though the UK Fuel Poverty crisis is getting worse, as new research predicts that almost a quarter of UK households will be seeking debt advice as they are facing fuel poverty in 2009.

The National Housing Federation (NHF) reports an 100% increase in the number of people who are spending more than 10% of their income on energy bills, since 2005. This figure shows no sign of declining as by 2010 the annual electricity bill is expected to be over £500 and gas bills over £900.

Due to prepayment schemes, those who are from low-income backgrounds and are struggling with debt are likely to be the worse suffers of UK fuel poverty , and could be paying £65 more than those who are billed every quarter.

NHF director of campaigns and neighbourhoods, Ruth Davison, called the findings part of a “full scale national energy crisis”.

What is UK Fuel Poverty?

UK Fuel poverty is defined by a household that spends more than 10% of their annual income on their total fuel bills, in order for them to heat their home to an adequate standard. (more…)