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.
Understanding Upselling of Add-On Products and Your Rights
What is “Upsell” of Add-on Products? What is “Upsell” of Add-on Products? When you take out a credit product – such as a loan, credit card, or finance agreement – you may be offered extra products or services alongside your main purchase. This practice is known as “upselling” add-on products. In the context of credit,…
What to Do If Your UK Bank Account Is Frozen or Blocked
What is a Frozen or Blocked Bank Account? What is a Frozen or Blocked Bank Account? A frozen or blocked bank account is one where your access to funds is restricted by your bank or a regulatory authority. This means you may not be able to withdraw money, make payments, or process transactions as usual.…
How to Protect Your Belongings from UK Bailiffs
Understanding Bailiffs and Their Powers Bailiffs, sometimes called enforcement agents, are individuals authorised to collect certain types of debts on behalf of creditors. They may visit your home if you owe money for things like council tax, court fines, or unpaid loans, and have not kept up with agreed payments. Bailiffs do not act on…
How to Spot and Challenge Hidden Fees in Debt Agreements
Understanding Hidden Fees and Penalty Rates Hidden fees and penalty rates are extra charges in debt agreements that are not always clearly explained upfront. These costs can catch borrowers off guard, making it harder to manage repayments and increasing the total amount owed. What Are Hidden Fees and Penalty Rates? Hidden fees are charges added…
How to Open a Bank Account in the UK: Legal Steps and Rights
Introduction to Opening a Bank Account Introduction to Opening a Bank Account Opening a bank account is often the first step to managing your money effectively in the UK. Whether you’re receiving your salary, paying bills, or saving for the future, a bank account provides a secure and convenient way to handle your finances. Most…
Vehicle Seizure: Legal Overview and Your Rights
What is Vehicle Seizure? Vehicle seizure is when a bailiff (also known as an enforcement agent) takes control of your car or other vehicle to recover unpaid debts. This process is a legal method used by bailiffs in the UK to enforce court orders or certain types of debts, such as unpaid council tax, parking…
How to Avoid Roll-Over Loans and Unfair Auto-Renewals
Understanding Roll-Over Loans and Auto-Renewal Clauses Roll-over loans and auto-renewal clauses are features sometimes found in credit agreements, especially with payday lenders and short-term credit providers. Understanding how these clauses work – and the risks they pose – can help you avoid getting trapped in cycles of debt. What Are Roll-Over Loans and Auto-Renewal Clauses?…
How to Stop Automatic Payments and Protect Your Rights
Understanding Automatic Payments Automatic payments are regular payments set up to leave your bank account on specific dates without you needing to take action each time. In the UK, the most common types of automatic payments are direct debits and standing orders. A direct debit allows a company or organisation to collect varying amounts from…
What Bailiffs Can Legally Take and What Is Protected
Introduction to Bailiff Powers Introduction to Bailiff Powers Bailiffs, also known as enforcement agents, are individuals authorised to collect certain types of debts on behalf of creditors. Their main role is to recover money owed by visiting your home or business and, if necessary, seizing goods to sell and repay the debt. Bailiffs may be…
How to Spot and Challenge Unfair Interest Rates UK
What Are Unfair Interest Rates and Increases? What Are Unfair Interest Rates and Increases? Unfair or excessive interest rates are charges on loans or credit agreements that go beyond what is reasonable or justified, often placing borrowers at a significant disadvantage. In the UK, the law provides clear definitions and protections to prevent lenders from…
