Category: Money and Debt
“Money and Debt” articles dive into all things financial and legal, tackling the nitty-gritty of money matters and debt dilemmas. From understanding how to manage debt and dealing with creditors to knowing your rights as a consumer and navigating tricky financial contracts, these articles cover it all. Whether you’re looking for tips on consolidating debt or need advice on bankruptcy, this category has you covered with straightforward insights and practical advice to help you handle your money matters wisely.
What to Do If You’re Struggling With Credit Card Debt
Understanding Your Credit Card Debt Understanding Your Credit Card Debt Credit card debt happens when you spend on your card and don’t pay off the full balance each month. The remaining amount carries over, and interest is usually added, making the debt grow over time. Even small unpaid balances can quickly add up, especially if…
Early Loan or Credit Repayment: Your Rights and Key Steps
What Is Early Repayment of a Loan or Credit? Early repayment of a loan or credit means paying off some or all of your borrowing before the end of the agreed term. This is different from making your regular monthly repayments, as it involves settling your debt ahead of schedule – either in full or…
Unfair Contract Terms and Fees: Legal Overview
What Are Unfair Contract Terms and Fees? Unfair contract terms and fees are clauses in debt agreements that put borrowers at a significant disadvantage. In the UK, a contract term is considered unfair if it creates an imbalance between the lender and the borrower, to the borrower’s detriment, and is not necessary to protect the…
Credit Union Loans
What Are Credit Union Loans? Credit union loans are a unique type of borrowing offered by credit unions – organisations that are run by and for their members. Unlike banks or payday lenders, credit unions operate as not-for-profit financial cooperatives, meaning they are owned and controlled by the people who use their services. Any surplus…
How to Deal With Fines and Penalty Charges in the UK
Understanding Fines and Penalty Charges Understanding Fines and Penalty Charges Fines and penalty charges are financial penalties imposed when someone breaks the law or fails to meet certain obligations in the UK. They are designed to encourage compliance with rules and regulations, and can be applied by courts, local councils, government agencies, or other authorities.…
Private Money Lenders: Your Rights, Risks and Safe Borrowing
What Are Private Money Lenders? Private money lenders are individuals or companies that offer loans directly to borrowers, rather than through traditional financial institutions like banks or building societies. These lenders often operate independently or as part of small lending businesses, providing an alternative source of funding for people who may not qualify for mainstream…
Gambling Debt: Legal Overview in the UK
What is Gambling Debt? Gambling debt is money owed as a result of betting or gaming activities, such as losses at casinos, online gambling sites, bookmakers, or private bets with friends or acquaintances. These debts can arise from a range of situations – whether you’ve lost money on a sports bet, run up a tab…
Administration Orders: A Simple Guide to UK Debt Solutions
What is an Administration Order? An administration order is a legal debt solution available in the UK for individuals who have multiple debts but are unable to pay them all at once. It is designed to help people manage their debts in a structured and affordable way, providing protection from further legal action by creditors…
How to Set Up an Informal Repayment Arrangement UK
What Are Informal Repayment Arrangements? What Are Informal Repayment Arrangements? Informal repayment arrangements are flexible agreements made directly between you and your lender to repay a debt, without going through the courts or using a formal debt solution. These arrangements are not legally binding, but they can be a practical way to manage debts if…
Bankruptcy Law in the UK: An Overview
What is Bankruptcy? Bankruptcy is a legal process that helps individuals or businesses who are unable to pay their debts. It is one of several insolvency processes available in the UK for managing serious debt problems. While insolvency is the general term for a situation where you cannot meet your financial obligations, bankruptcy specifically refers…
