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.
Credit Card Interest Rates and Fees Explained Simply
Understanding Credit Card Interest Rates Understanding how credit card interest rates work is essential for managing your finances and avoiding unnecessary costs. Interest rates determine how much you pay to borrow money on your credit card if you don’t pay off your balance in full each month. Here’s what you need to know: What Are…
Debt Time Limits: What Statute-Barred Debts Mean for You
Understanding Debt Time Limits in the UK Debt time limits, also known as limitation periods, are legal rules that set out how long a creditor has to take court action to recover a debt. These rules are designed to ensure that people are not pursued indefinitely for old debts, providing clarity and protection for both…
How to Spot and Challenge Unfair Debt Charges in the UK
What Are Unauthorized or Excessive Debt Charges? What Are Unauthorized or Excessive Debt Charges? Unauthorized or excessive debt charges are costs added to your debt that you either did not agree to, do not owe, or which go beyond what is fair or allowed by law. Understanding what counts as unauthorized or excessive can help…
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…
