House Prices Dropping In England And Wales

House Prices Dropping In England And Wales

A new survey by the Land Registry have found that house prices in England and Wales have fell in the past few months to may.

While Februrary and April only show a drop of 1% for the 3 month previous show a 14% drop overall.

According to the new surey only house prices in London rose which was a rise of 3% in April to bring the average price to £352,187.

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

Tuesday, May 31,2011
Debt Support Trust
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Pensioners Release Equity To Pay Debt

Pensioners Release Equity To Pay Debt

Almost a third of the pensioners who released equity from their home did so to pay off debts of around £25,000 on average according to new research by Key Retirement Solutions.

The research also found that 31% of all the people who had unlocked equity from their home during the first 3 months of 2011 did it in order to help pay debts.

In some instance Key Retirement Solutions also found pensioners who were owing £90,000 in debt just for credit cards.

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

Sequestration

Debt Management Plan

Monday, May 30,2011
Debt Support Trust
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The Big Society – Lord Wei Steps Down

The Big Society – Lord Wei Steps Down

The Governments big society tsar has stepped down from his position as he is set to work for the Community Foundation Network.

Lord Wei has played a vitual role in helping to shape the “Big Society” as well as other projects according to David Cameron wjo said;

“He has played an important role in delivering key initiatives like Community Organisers, National Citizen Service and the Big Society Bank”.

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

Sequestration

Debt Management Plan

Friday, May 27,2011
Debt Support Trust
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Housing Market Subdued

Housing Market Subdued

The latest report by The Nationwide Building Society has found that the housing market is still subdued.

According the report house price rose by just 0.3% in May which is still 1.2% lower than figures of a year ago with the average house price just £168.208.

“The UK economy returned to growth in the first three months of 2011, albeit at a modest pace,” said the lender’s chief economist, Robert Gardner.

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

Sequestration

Debt Management Plan

Friday, May 27,2011
Debt Support Trust
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BBC News: For Profit Debt Management Rogues

BBC News: For Profit Debt Management Rogues

Yet again for-profit debt management companies are under the spotlight with a report carried out by BBC revealing some firms are holding on to clients cash.

The BBC discovered that some debt management companies were not paying their clients creditors within the 5 day guideline set out by the Office of Fair Trading (OFT).

The report by the BBC has found that these practices are becoming more common and people are at risk financially by these for profit rogues.

In order to protect yourself it is important you looking for the following before handing over money.

  • We advise always speaking with a debt advice charity who will be able to advise on the best debt solution
  • Whenever you speak with an organisation who is dealing with your finances always look for their credentials i.e consumer credit licence.
  • Always read the small print before agreeing to anything
  • Ask how long your debt solution would last and question the fees a company will take

Stuart Carmichael Trustee for Debt Support Trust said, “It’s unacceptable that vulnerable people in search of a route out of their debt problem are being hindered by greedy, thoughtless & money hungry debt management rogues.”

At Debt Support Trust we’ve noticed an increase in the number of cases where somebody in a debt management plan contacts the charity for help because they feel they are getting nowhere. After an adviser reviews the client’s case we often find the Debt Management Plan was the wrong debt solution for the person in debt.

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

Sequestration

Debt Management Plan

Friday, May 27,2011
Debt Support Trust
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UK Spending Falls 0.6%

UK Spending Falls 0.6%

According to the Office for National Statistcis, UK household spending fell 0.6% in the first 3 months of 2011.

The drop in spending is the largest since June 2009 and could further concern people who are worried about the strength of the economy.

The OECD said UK unemployment was likely to rise in the short term, “reflecting the slow recovery and rising labour force participation”.

Debt Support Trust analysts believe the UK economy is ‘walking the tight rope’.

“The increased cost of living has people unsure over their financial future and choosing to save their money instead of spending it. The increase in fuel, alcohol and the VAT are all factors when spending decreases.”

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

Sequestration

Debt Management Plan

Thursday, May 26,2011
Debt Support Trust
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UK Unprepared For Retirement

UK Unprepared For Retirement

A new survey by HSBC has found that only 39% of people in the UK have a retirement plan which is less than both China and Malaysia.

The survey question 17,000 people from 17 countries and was able to find that 84% of people in Malaysia had a financial plan.

The National Association of Pension Funds said: “We must begin to think differently about the way we approach financial planning for retirement.”

At debt advice charity Debt Support Trust we are not suprised by these statistics as millions of people are struggling to manage day to day, making it difficult to consider their long term financial future.

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

Sequestration

Debt Management Plan

Thursday, May 26,2011
Debt Support Trust
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Interest Rate Rise Would Be A Mistake

Interest Rate Rise Would Be A Mistake

Increasing interest rates would be a mistake according to a senior Bank Of England executive Paul Fisher.

The excutive director for markets said “Putting up interest rates could be exactly the wrong thing to do at this precise moment”

Fisher has stated his fear that the current position of the economy could lead to more “prolonged weakness in demand and in particular consumer spending”.

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

Sequestration

Debt Management Plan

Thursday, May 26,2011
Debt Support Trust
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Mental Health Awareness Week

Mental Health Awareness Week

It is mental health awareness week from 23rd – 30th May 2011 and our charity is focussing on the issues associated with mental health and debt problems. Debt issues are a known contributor for mental health problems with recent statistics showing that 1 in 10 people with a debt problem also suffer from a mental health illness.

Further research has uncovered that 44% of people in need of debt help also required prescription medication from their GP. A worrying statistic is that 38% of people in debt had considered or attempted suicide as a result of their debt problem.

The story of Gregg

Gregg, 28, who has a young family, contacted Debt Support Trust to ask for debt advice. He had been unemployed for 9 months and felt overwhelmed by the pressure to support his family, get a new job and begin to repay his debt.

Gregg visited his general practitioner (GP) for help with depression. Whilst at the doctors Gregg picked up one of our leaflets and gave our debt charity a telephone call. A caring volunteer and qualified debt advisor managed to provide Gregg and his family with benefits advice and support.

After recently speaking to Gregg to find out how his situation was progressing he had managed to gain employment and he felt his situation was improving for the better.

* Gregg was happy for us to tell people his story however we have changed his name.

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

Sequestration

Debt Management Plan

Wednesday, May 25,2011
Debt Support Trust
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Bank Of Scotland Customers To Receive £17m

Bank Of Scotland Customers To Receive £17m

The Financial Services Authority (FSA) have fined Bank Of Scotland £3.5m for mishandling complaints by it’s customers.

It is expected that around £17m will be paid out by the bank to it’s customers after it was found to have mis-sold policies to customers.

The bank has apologised and is now reviewing thousands of cases.

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

Sequestration

Debt Management Plan

Wednesday, May 25,2011
Debt Support Trust
read more