Archive for the ‘Finance’ Category

Government Debt Advice Strategy Labelled Failure

Debt Help

A “complete failure” is what a committee of MP’s have labelled the management of the government’s strategy for helping people in debt.

51 different projects since 2004 have been uncoordinated with no-one in charge said the Public Accounts Committee.

The UK population’s total personal debt has almost reached £1.5 trillion. According to the committee’s report 11% of adults were struggling with debts. (more…)

UK Home Owners Inject £4 Billion Equity

Home Equity

UK home owners injected more than £4 billion of equity into their homes in the 4th quarter of 2009 as record low interest rates encouraged home owners to pay down their debt.

Figures release by the Bank of England on Tuesday show home owners added £4.038 billion of housing equity between October and December, the equivalent of 1.6% of post-tax income. (more…)

What Happens If You Default On A Payday Loan?

Payday Loans

Payday loans are high interest loans you can get if you need money before your next payday. They can be convenient in an emergency, provided you’re ready, willing and able to pay them back plus interest. But what happens if you can’t pay them back?

The first thing that can happen you probably already know about, if you were listening to the payday loan provider or if you read the agreement you signed. That is, the payday loan company will continue to debit your account until they receive their money back. Unfortunately, if you do not have the money in your account you’re going to start racking up fees quickly. (more…)

Saving for a “Rainy Day” – Why Saving Money Is Important

Saving Money

Many of us have gotten out of the habit of saving. We know we are supposed to, but we’ve adopted lifestyles that have us living pay cheque to pay cheque. The result is that when things get a little difficult financially, we can lose everything.

Even minor financial setbacks can become major events, causing stress, unhappiness and financial loss. Saving for a “rainy day” is about more than doing what you’re supposed to do – it’s about taking good care of yourself today, tomorrow and every day in your future.

Imagine being able to always afford life’s little emergencies. Here are just a few of the common little emergencies we face on a regular basis. Perhaps one or two of these resonate with you. (more…)

How to Correct Credit Report Errors

Credit Report Errors

So you’re checking your credit score; that’s great. It’s the best way to prevent identity fraud and to make sure the report that potential creditors are seeing represents you correctly. It’s also a great way to get a hold of your finances if you’ve been operating in the dark up until now. But what do you do if you find errors?

The first step is to contact the credit reporting agency. There are two main agencies:

Equifax
Experian

Send them in writing a letter that outlines what is incorrect, any information you have on the error and the account, and a copy of your credit report. You must also ask them to make the corrections. Send your letter by recorded delivery, “return receipt requested.” This enables you to track the letter and document any communications. Keep copies of everything related to this process. (more…)

House Prices May Dip Again

House Prices May Dip

The housing market may take another dip as potential buyers struggle to get mortgages according to Bank of England policy maker Kate Barker.

The global credit crisis saw house prices in the UK drop by 20% at the lowest point as banks wary of risking new lending withdrew from the market and confidence was dented.

The market has however come back strongly since hitting bottom.

Barker, who has penned reviews of Britain’s housing supply and planning for the government and helps to set the interest rate said she had been surprised by the rebound.

“It seems more likely than not to me that mortgage finance is clearly not going to be available going forward on the terms it used to be,” Barker told MPs. (more…)

House Prices Up 6.1% In The UK

Rising House Prices

House prices in England and Wales are now 6.1% higher than they were a year ago, the largest monthly rise since April 2007 according to a survey by Right Move.

The average property price nationally in February was £229,398 a rise of 3.2% on January.

In London prices were up 5% on the month to a record £427,987, prices are now higher then at the peak of the property boom in 2007 after rising 10.3% over the last year. (more…)

Earning Extra Money Online

Make Money Online

Have you ever entertained the idea of making money online? There are plenty of people who have quit their day jobs and make a full-time income from home thanks to the Internet. But if you are happy with what you’re doing, there are still opportunities to make some extra cash. Here are some ideas for your consideration. (more…)

Quick Loans to Fix Up Your Home

Perhaps you want to fix up your home. You cannot wait any longer to get that new carpeting, or worse, your roof is leaking. You have been trying to save money in case any emergencies came up but you do not have nearly enough money. Times are tough right now. This is where you can get a quick loan.

You can choose from a secured home loan, a quick unsecured loan or a quick payday loan. Our experts will help you choose the best option for you and the best deal. We know you work hard for your money and we want to help you save as much as you can. (more…)

Information on Secured Home Loans

There are different types of loans you can take out. A secured loan is where the person borrowing puts up one of their assets such as their home. If the person defaults on paying his or her secured home loan, than the creditor will take the home. The creditor can sell the home to make up for the money that was owed to them yet it was not paid to them.

There are wonderful benefits when you choose to take out one of the secured home loans. If you choose to take out one of the secured home loans that offer extra benefits you will be pleasantly surprised at the rewards. (more…)