Cash Loans Till PayDay
Clear Your Debts
Clear Your Debts
Getting into debt is not a new thing, everyone at some point of their lives will sooner or later have money problems, and problem is what to do when it gets so bad that you don't know where to turn?
We live in a society that seems obsessed with credit cards, unfortunately it doesn't take long to max them out and now you are left running to catch up with repayments and seem only to be able to clear the interest on it.
It seems that even when your credit is so bad someone somewhere is still willing to loan you money or allow you to buy items like cars on HP (Higher Purchase) although you may think they are just trying to help out someone who is struggling they kick you even further down with crippling interest rates. So even if you though about taking out a consolidating loan to clear some of your other debts you could actually be adding to it.
So where do you start in
Clearing your Debt?
First of all you should make a budget planner; this is a spreadsheet that you can make up in Microsoft excel, where you write down what money you have coming in like wages or benefits and on the other column write what is going out like electricity, gas, shopping rent or mortgage etc, remember and put everything down even to car insurance, sky, telephone and everything else that comes out regularly. Now you have your incomes and outgoings total them up to see what you have, hopefully the ingoing's are higher than the outgoings, if not you may have to think about budgeting things in the list or take on more hours or part-time work to boost your income. Just remember that you may have unexpected bills repairs or maybe have to buy new car or household appliance so always try to keep a little bit spare in case this happens.
If your debt is just starting to get out of control but you have done you budget and have some spare cash leftover after all bill have been paid then probably the best thing to do is get a consolidation loan, pay off your major bills and cards that have higher interest on them then cut up the cards to prevent you overspending on them again, just keep one good card for emergencies. This is a good way to go if you have loads of bills to pay a month as this allows you to pay them off and all you are left with is one monthly payment.
If you have just a few big debts why not contact a debt advisor who can negotiate with your creditors to try to reduce the payments so that you can afford to pay them, they would rather get some money than none at all, although by lowering the monthly payments it normally means that the time it would have taken to repay the debt will be longer so bear that in mind. Also this can cause problems for future loans as a quick credit check will show up that you had problems paying within the terms and you may be refused.
There are hundreds of companies out there that claim to be able to help you clear your debt for a small fee, but before you go to them give Citizens Advice a go, they may be able to point you in the right direction, some may even suggest the route of Bankruptcy.
Bankruptcy can be the answer for people who can see no way out through any other means although more and more people are declaring themselves bankrupt before even trying any other routes, not surprising that over 8 million people in the UK have serious debt problems especially with the climate being as it is and so many people losing their jobs, without proper means their debts just climb higher and higher.
Being declared bankrupt does have its advantages like not having to cringe every time the phone rings, someone knocks the door or the postman comes, all connections with the creditors are handled by your own personal trustee who deals with your bankruptcy they will contact all your creditors and let them know the situation and they can appeal but normally will just accept that it will be written off and never contact you again.
But there are far more serious sides to this, like if you own your own home, car or anything of value these will be in the control of the trustee who may sell them to
Clear the Debt. Although if you rent your house they can't do anything and as long as you are paying your rent the landlord probably won't do anything either.
You won't be able to get a loan or credit over 250 unless agreed by the lender, if so it will normally be at a higher interest rate, you can't have overdrafts and you will have to hand over details of your bank accounts as well which may be closed down and finding a bank that will let you open up a new bank account with be difficult.
If you are a company director you have to be dismissed as this is not allowed under bankruptcy rules either so if this is your business it can be affected as well.
This is really the last resort, you should always exhaust all other options before going down this one as you never know what you will need in the future and bad credit is definitely not one of those things!
Cash Loans Till PayDay
By: Domain Automator
Raising Dairy Goats - It is a Widely Recognized Profitable Business If You Plan to Raise Goats A Third Party Review Of Team National – Is It A Good Business Opportunity? Meat Goat Farming - Profitable Business of Raising Goats Use Cash Receipt Template to Create Your Receipts And Invoices Easily Cash Gifting - What is the best Program to Join? Is My Business Ready for a Disaster? Getting your Affiliate Marketing Business out of Low Gear Cash Gifting Will Work for You, if You Work it! Writing an Affiliate Marketing Business Plan Review of Cash Gifting No 1 Up Cash Gifting is the Way to go! How small businesses can benefit from cheap web hosting? Cash Gifting: Simple Steps to Success