Final Day Of Cheque Guarantee Cards

Final Day Of Cheque Guarantee Cards

Today is the last day that cheque gaurantee cards can be used as cheques begin to be phased out over the next 7 years.

The plan to stop cheque gaurantee cards will mean banks will no longer be obliged to honour a payment from an account which doesn’t have enough funds however it could choose to at it’s own descretion.

“You can still write and use cheques in the same way that you always have done – just not guaranteed by a card,” said Sandra Quinn of the Payments Council.

 

Debt Support Trust is a registered debt advice charity (SC041902) providing debt advice on a range of debt solutions including;

Benefits Advice

General Debt Advice

Individual Voluntary Agreement (IVA)

Protected Trust Deed

Refinance

Bankruptcy

Thursday, June 30,2011
Debt Support Trust
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Mortgage Approval Still Subdued

Mortgage Approval Still Subdued

Mortgage approvals are likely to remain subdued for the coming few months based upon the Bank Of England figures released today.

In May mortgage approvals increased to 45,940 from 45,447 in April however May’s figures were lower than average for the previous six months.

Trustee of Debt Support Trust, Stuart Carmichael said, “Low consumer confidence and a continued difficulty in obtaining mortgages means mortgage growth is stagnant.  It’s a chicken and egg scenario – consumer confidence will grow when lending improves, however lending will improve as consumer confidence grows and the economy becomes more financially stable”.

 

Debt Support Trust is a registered debt advice charity (SC041902) providing debt advice on a range of debt solutions including;

Benefits Advice

General Debt Advice

Individual Voluntary Agreement (IVA)

Protected Trust Deed

Refinance

Bankruptcy

Wednesday, June 29,2011
Debt Support Trust
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One In Six Pay Wrong Tax

One In Six Pay Wrong Tax

According to HM Revenue and Customs, one in six people paid either too much or not enough tax last year.

The statistic was released as HMRC announced it will be sending 4.7 million letters advising people they either paid too much or to little.

HMRC estimates that between;

  • 1.7 and 3.5 million people will be repaid an average of £340 each
  • 1.2 million will owe £500-£600 each.

“We expect that hardly anyone will be faced with a bill larger than £3,000, but if they want to pay us in one go by cheque they can,” said the HMRC spokesman.

 

Debt Support Trust is a registered debt advice charity (SC041902) providing debt advice on a range of debt solutions including;

Benefits Advice

General Debt Advice

Individual Voluntary Agreement (IVA)

Protected Trust Deed

Refinance

Bankruptcy

Sequestration

Debt Management Plan

Wednesday, June 29,2011
Debt Support Trust
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House Prices Continue Decline

House Prices Continue Decline

House prices in England and Wales have continued to fall according to the latest survey by the land registry.

The survey of house prices found a drop of 0.4% in May and a 2.2% drop compared with the same time last year to bring the average house prices to 161,00.

“The divergence in price change between London and the rest of the country continues to grow,” the Land Registry said.

 

Debt Support Trust is a registered debt advice charity (SC041902) providing debt advice on a range of debt solutions including;

Benefits Advice

General Debt Advice

Individual Voluntary Agreement (IVA)

Protected Trust Deed

Refinance

Bankruptcy

Tuesday, June 28,2011
Debt Support Trust
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Repossession Wont Increase With Interest Rates

Home Repossession Won’t Increase With Interest Rates

If interest rates were to rise then the number of home repossessions would not increase as well according to a Bank Of England official.

Many analysts including Richard Banks, the chief executive of UKAR had stated their believe that interest rates rising could cause a “tsunami” of house repossessions.

“You can see if you don’t do something about it, you can see a tsunami,” he said. “If you don’t get into the hills you could get drowned by this. If you don’t manage this properly it could get very messy.”

 

Debt Support Trust is a registered debt advice charity (SC041902) providing debt advice on a range of debt solutions including;

Benefits Advice

General Debt Advice

Individual Voluntary Agreement (IVA)

Protected Trust Deed (Scotland)

Refinance

Bankruptcy

Tuesday, June 28,2011
Debt Support Trust
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Super Complaint By Which Is Upheld

Super Complaint By Which Is Upheld

The super complaint against debit and credit card surcharges lodged by which? has been upheld by the OFT.

The OFT will now crack down on companies who make it hard to work out the true cost when paying by debt or credit cards.

Peter Vicary-Smith, chief executive of Which? said: “thousands of people have told Which? that hidden or excessive card fees are unfair, and it’s a victory for consumers that the OFT supports this view.”

 

Debt Support Trust is a registered debt advice charity (SC041902) providing debt advice on a range of debt solutions including;

Benefits Advice

General Debt Advice

Individual Voluntary Agreement (IVA)

Protected Trust Deed

Refinance

Bankruptcy

Tuesday, June 28,2011
Debt Support Trust
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Super Complaint Lodged Against Airline Charges

Super Complaint Lodged Against Airline Charges

Consumer group Which? has lodged a super complaint against airline booking charges for people paying by debit and credit cards.

While airline companies were some of the worse culprits, which? also found that the DVLA would charge £2.50 for making a payment.

“Low-cost airlines are some of the worst offenders, but excessive card surcharges are becoming ever more widespread, with everyone from cinemas and cabs to hotels and even some local authorities getting in on the act” said Which? Chief Executive Peter Vicary-Smith.

 

Debt Support Trust is a registered debt advice charity (SC041902) providing debt advice on a range of debt solutions including;

Benefits Advice

General Debt Advice

Individual Voluntary Agreement (IVA)

Protected Trust Deed

Refinance

Bankruptcy

Tuesday, June 28,2011
Debt Support Trust
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New Mortgage Interest Rates Fall To Record Low

New Mortgage Interest Rates Fall To Record Low

Interest rates for new mortgages have dropped to the lowest level since 1988 according to a new report by moneyfacts.

The reason for the fall in interest rates is due to the Bank of England base rate remaining at 0.5%.

Director of Debt Support Trust Stuart Carmichael said, “Interest rates on mortgages must remain low as consumers are already hard pressed to meet their living costs. The financial tight rope people are walking is intense and increasing interest rates would be enough to tip thousands of people over the edge. If people are not paying their mortgage already because of their debt problems then they should be speaking to a debt advice charity immediately. Often by creating a structured plan for unsecured debt people are able to recommence payments to their mortgage provider.”

 

Debt Support Trust is a registered debt advice charity (SC041902) providing debt advice on a range of debt solutions including;

Benefits Advice

General Debt Advice

Individual Voluntary Agreement (IVA)

Protected Trust Deed

Refinance

Bankruptcy

Tuesday, June 28,2011
Debt Support Trust
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Credit Card Use Falls 13%

Credit Card Use Falls 13%

The use of credit cards dropped 13% last year while the average spend increased by the same amount to £12.93 howver debit card transactions also increased by 15.8%.

The British Retail Consortium (BRC) have said that consumers are avoiding debt by not using credit cards and avoiding charges.

Stuart Carmichael, Director of Debt Support Trust has said, “It’s positive that the level of credit card debt is reducing. The number of people acquiring credit cards is still increasing, which suggests consumer confidence is low. We are still seeing increasing numbers of people seeking debt help and expect numbers to continue to grow during this difficult financial time.”

 

Debt Support Trust is a registered debt advice charity (SC041902) providing debt advice on a range of debt solutions including;

Benefits Advice

General Debt Advice

Individual Voluntary Agreement (IVA)

Protected Trust Deed

Refinance

Bankruptcy

Monday, June 27,2011
Debt Support Trust
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Tesco Petrol Price Cut

Tesco Petrol Price Cut

Despite sceptisim by motorist groups,Tesco have cut their petrol prices by 3p a litre which some say could spark a price war.

The move to cut the price of petrol comes after the International Energy Agency released 60 million reserve oil barrels which brought the price of oil down.

Tesco UK chief executive Richard Brasher said: “We know our customers are feeling the pinch at the moment, so we want to pass on the benefit of a fall in oil prices straight away.”

 

Debt Support Trust is a registered debt advice charity (SC041902) providing debt advice on a range of debt solutions including;

Benefits Advice

General Debt Advice

Individual Voluntary Agreement (IVA)

Protected Trust Deed

Refinance

Bankruptcy

Sequestration

Debt Management Plan

Friday, June 24,2011
Debt Support Trust
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