Resurrect Your Finances This Easter

Resurrect Your Finances This Easter

Use this Easter to spring clean your finances with Debt Support Trust

During Easter you may be thinking about spending some well earned time with the kids, eating more than your fair share of Easter eggs and perhaps visit church on Easter Sunday.

Dealing with financial problems is not top of most people’s ‘must-do’ list at Easter, especially when the sun is shining and you’re busy rolling your hard boiled eggs down a hill. However, if you have debt problems then the festive break is a perfect time to spring clean your finances. Here’s our list of proactive ways to get your money matters in order.

1. Face the problem head on: Most people in debt ignore telephone calls and letters because they fear the worst. By ignoring the problem it doesn’t go away, it just gets bigger.

2. “A problem shared”: Easter is a time for sharing your eggs. Talking about your debt and sharing your problems with a friend, member of your family or a debt charity is a good way to ease the burden debt can create. It can useful to get another perspective and advice on the situation.

3. Get a spring in your step: Organise your paperwork and complete a basic income and expenditure to understand how much disposable income you have to pay towards your debts each month.

4. Enjoy the Easter break: It can be difficult to enjoy the Easter holidays when you have debt problems, especially if you’re feeling under pressure and your sleep is being disrupted. Enjoy your break by finding free things to do – is your local swimming pool offering free swimming or are there any ‘two for one’ deals on at the cinema?

5. Money saving tips: There is a number of different money saving websites and blogs where you can save cash. Check online for websites which help you save money on things like your shopping and essential items.

6. Walk and get healthy: Debt is known to cause mental health problems because of the strain and pressure associated with debt. However, exercise can help improve your mental state and you’ll be in a better place to get active and resolve your financial woes.

7. Turn down the heating: As the temperature starts to increase outside you can turn down your heating and save money!

8. Get the right help: Finally, if your debt problems are severe and you cannot see a route which will enable you to resolve your debt problem then there are a number of debt solutions available. Many solutions advertised by for profit companies can be misleading, so ensure you speak to a not for profit debt charity.

Anybody seeking debt advice this Easter can contact Debt Support Trust by telephone on 0800 085 0226.

 

Debt Support Trust is a registered charity SC041902 which provides the following debt solutions

Benefits Advice

General Debt Advice

Individual Voluntary Agreement (IVA)

Protected Trust Deed

Refinance

Bankruptcy

Sequestration

Debt Management Plan

Tuesday, April 26,2011
Debt Support Trust
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Debt Support Trust launches intermediary service

Debt Support Trust launches intermediary service

Debt Support Trust recently completed research with 182 intermediaries asking them “who do you refer clients in debt to?” Almost 70% said a debt advice charity.

As a result we have developed our intermediary page where financial advisors and mortgage brokers can access literature for their clients, such as a poster and leaflet.

Brokers interested in working in partnership with Debt Support Trust can receive client updates via our relationship team. Anybody wishing to utilise the reporting and relationship service provided by Debt Support Trust can telephone 0800 085 0226 and be registered prior to referring clients for advice.

To access the leaflet and poster please visit the intermediary page

 

Debt Support Trust is a registered charity SC041902 which provides the following debt solutions

Benefits Advice

General Debt Advice

Individual Voluntary Agreement (IVA)

Protected Trust Deed

Refinance

Bankruptcy

Sequestration

Debt Management Plan

Thursday, April 21,2011
Debt Support Trust
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Surprising March Retail Sales

Surprising March Retail Sales

According to new statistics released by the Office For National Statistics, retail sales have risen by 0.2% compared with the previous month.

The rise comes after a sales drop of 0.9% in February which was a surprise to analysts.

It is believed that the reason for the rise was due to the increase from food and non-store sales.

 

Debt Support Trust is a registered charity SC041902 which provides the following debt solutions

Benefits Advice

General Debt Advice

Individual Voluntary Agreement (IVA)

Protected Trust Deed

Refinance

Bankruptcy

Sequestration

Debt Management Plan

Thursday, April 21,2011
Debt Support Trust
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OFT Revokes Credit Licences

OFT Revokes Credit Licences

The Office of Fair Trading has recently revoked the licences of four misleading debt companies. These companies were found to be sending misleaded letters to people in an IVA and suggested that bankruptcy might be a better solution.

This action follows the OFT warning 12 for-profit debt management companies about their misleading mailings back in june 2008.

Debt Support Trust has been making consumers aware of the dangers of using for-profit companies. While some for-profit debt companies can be good there is a higher risk of them being dishonest. To stay safe here is what to look for before preceeding with debt advice from any organisation;

  • Consumer Credit Licence – This should be on every geniune companies website but you can also search the register here
  • If the organisation is promoting itself as a charity they should have a charity registration number on their website or can be searched here if English or Welsh  here if it’s based in Northen Ireland or here if based in Scotland
  • Check out how the organisation make their money – this should be on the website of the company to be fully transparent

 

Debt Support Trust is a registered charity SC041902 which provides the following debt solutions

Benefits Advice

General Debt Advice

Individual Voluntary Agreement (IVA)

Protected Trust Deed

Refinance

Bankruptcy

Sequestration

Debt Management Plan

Thursday, April 21,2011
Debt Support Trust
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Bankruptcy – New Insolvency Statistics

Bankruptcy – New Insolvency Statistics

The new bankruptcy statistics released by the Accountant In Bankruptcy today highlight that 2,687entered bankrutpcy in the last three months to relieve their debt problem. The increase is believed to be due to new available routes into bankruptcy.

The bankruptcy statistics increased by 8% quarter on quarter. The routes into bankruptcy can be split as follows;

There were;

  • 68 petitions by the trustee in a trust deed for bankruptcy
  • 446 creditor petitions to the court

Year on Year

While the LILA route to bankruptcy was down 37%, other routes were up 68% collectively.

 

Debt Support Trust is a registered charity SC041902 which provides the following debt solutions

Benefits Advice

General Debt Advice

Individual Voluntary Agreement (IVA)

Protected Trust Deed

Refinance

Bankruptcy

Sequestration

Debt Management Plan

Wednesday, April 20,2011
Debt Support Trust
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Trust Deed – New Insolvency Statistics

Trust Deed – New Insolvency Statistics

New insolvency statistics have been released by the Accountant In Bankruptcy and show a fall in the amount of trust deeds granted over the previous quarter.

Trust deeds have decreased by 25% over the past 3 months to March. The decrease coincides with an increase in sequestration. There were 555 awards for certificate of sequestration which is likely to be the reason for the decline

1,575 Trust Deeds were granted which is down 23% on the year on year figures.

Debt Support Trust is a registered charity SC041902 which provides the following debt solutions

Benefits Advice

General Debt Advice

Individual Voluntary Agreement (IVA)

Protected Trust Deed

Refinance

Bankruptcy

Sequestration

Debt Management Plan

Wednesday, April 20,2011
Debt Support Trust
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Debt Support Trust Now On Debt Watchdog Forum

Debt Support Trust Now On Debt Watchdog Forum

Debt Support Trust has joined the debt watchdog forum. The forum is an opportunity for people to talk about their debt problems or money worries.

 

Qualified debt advisor Andrew Greechan will be answering questions on the forum along with other users. The forum discusses a range of topics from money saving tips through to specific debt and money problems. Debt Watchdog is an independent website not funded by other debt organisations.

You can join the Debt Watchdog Forum by visiting www.debtwatchdog.com.

 

Debt Support Trust is a registered charity SC041902 which provides the following debt solutions

Benefits Advice

General Debt Advice

Individual Voluntary Agreement (IVA)

Protected Trust Deed

Refinance

Bankruptcy

Sequestration

Debt Management Plan

Tuesday, April 19,2011
Debt Support Trust
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Debt Support Trust – Facebook Debt Question

Debt Support Trust – Facebook Debt Question

Debt Support Trust has posted a question on facebook, “Over the last 6 week have you received a text message offering you to “write off debt”?

Have your say on our facebook page, where you can answer with your experience of these companies or text marketing campaigns.

 

Debt Support Trust is a registered charity SC041902 which provides the following debt solutions

Benefits Advice

General Debt Advice

Individual Voluntary Agreement (IVA)

Protected Trust Deed

Refinance

Bankruptcy

Sequestration

Debt Management Plan

Tuesday, April 19,2011
Debt Support Trust
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Changes To Accountancy Cost Housing Associations 1.1 Bn

Changes To Accountancy Cost Housing Associations 1.1 Bn

New international accountancy standards could mean housing associations in England will be forced to pay an extra 1.1bn.

The changes come after the Accounting Standards Board said last year that they must file accounts according to International Financial Reporting Standards (IFRS) by 2015.

For those housing associations with 3,000 homes the cost would be around £121,750 and it could cost the entire sector £150m.

 

Debt Support Trust is a registered charity SC041902 which provides the following debt solutions

Benefits Advice

General Debt Advice

Individual Voluntary Agreement (IVA)

Protected Trust Deed

Refinance

Bankruptcy

Sequestration

Debt Management Plan

Monday, April 18,2011
Debt Support Trust
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Britons £10,000 Tipping Point

Brits £10,000 Tipping Point

The point at which Brits begin to worry about debt is £10,000 according to a new survey which questioned 2,000 adults.

The survey found that men began to worry when debt reached £7,500 and £12,000 for women.

The amount at which debt was being dealt with was £20,000 which means there is a period when people will hold off taking action.

Our own research

Our own recent research at Debt Support Trust confirms people take on average 7 years to accrue debt however once they decide they need help, the time taken to do something about it is less than 4 days.

Typically, a person contacting Debt Support Trust will owe £32,000 to 8 different companies.

 

Debt Support Trust is a registered charity SC041902 which provides the following debt solutions

Benefits Advice

General Debt Advice

Individual Voluntary Agreement (IVA)

Protected Trust Deed

Refinance

Bankruptcy

Sequestration

Debt Management Plan

Friday, April 15,2011
Debt Support Trust
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