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Short Term Debt Problems
Published in Debt Advice Features on Wednesday, July 04 2007 
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The most important thing to do is to communicate with your creditors. This may be directly or through credit counsellors. How long do you expect to be struggling for? Is it until your house sells for example – so possibly at least six months?
Administration Orders
Published in Debt Solutions Guide on Wednesday, July 04 2007 0 Comments
First of all what is an Administration Order? It is a court order which covers all your unsecured debts, this means you make one payment and the court will distribute it for you to all your creditors.
How will being in debt affect me getting a mortgage?
Published in Debt Advice Features on Wednesday, July 04 2007 0 Comments
If you have unsecured debts they can affect you in several different ways when you look at acquiring a mortgage.
Why would I have to give details about my children when I look at entering a debt solution?
Published in Debt Advice Features on Wednesday, July 04 2007 0 Comments
Usually you have to give the details about the members of your household, dependant or non-dependant. This is applicable in bankruptcy, an Individual Voluntary Arrangement, and debt management, the major debt solutions. This is because the creditors usually require a copy of your household income and expenditure, and the only way to back up what you spend or bring in is to verify the details of the members of your household.
Property Abroad in Debt Solutions
Published in Debt Advice Features on Wednesday, July 04 2007 0 Comments
Before you go ahead with any debt solution you should seek further advice regarding property you own abroad, and I would not advise trying to hide the details of the property as this could be classed as fraudulent behaviour. Here are the different ways it could possibly be affected.
IVA’s and Home Equity
Published in Debt Advice Features, IVA Focus Features on Wednesday, July 04 2007 0 Comments
Firstly what is equity? Equity is any money left over once you have sold or cashed in an asset. So for example if you sell your property, the equity is what is left over after you have paid your mortgage off. If you cash in a pension it is what is left after all the fees and charges have been taken. In certain cases you will have to release equity from any assets you own with the exception of perhaps your vehicle.
