MoneyPlus Advice Articles

Most people are familiar with the term ‘bankruptcy’. If you’re struggling to pay off what you owe, bankruptcy can wipe out most of your outstanding debts, allowing you to make a fresh start. However, it can also negatively impact your credit file and is often only used as a last resort.  If you are planning…

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Facing financial difficulties can feel overwhelming, but knowing your options can help you regain control. If you’re considering bankruptcy, it’s important to understand the different types available to make an informed decision on whether it’s the right option for you. In the UK, there are three types of bankruptcy processes: personal bankruptcy, liquidation and sequestration.…

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Over the last 10 years, the UK has undergone significant changes, from political leadership to economic policies. The country today is vastly different than it was in 2014 –  but how much have people’s daily lives and finances been affected?  According to our survey, over 90% of people feel they have been impacted by changes…

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When you’re dealing with an overwhelming financial situation, such as a large amount of debt, it’s natural to look for some much-needed respite. For many of us, this takes the form of our favourite activities and hobbies. However, what happens when the things we like to do to relax and unwind become too expensive? In…

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There is rarely a good time to become unemployed. However, if you’re also dealing with crippling debt, the situation can feel even more stressful and overwhelming. Whether you’ve just been made redundant or you’ve been out of work for a few months, it’s important to still pay your bills and service your debt as best…

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If the past few years have demonstrated anything, it’s how quickly circumstances can change – from global pandemics to cost of living challenges. This has left many households vulnerable to unexpected financial shocks and highlighted the importance of financial resilience. While traditional financial advice often focuses on long-term investments and retirement planning, there’s a more…

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Below, we outline the most important things to know about Carer’s Allowance, including eligibility criteria, the current rates, how you can apply to receive it and whether it affects other benefits you may be eligible for. Who can claim Carer’s Allowance? In order to qualify successfully for Carer’s Allowance, you need to meet certain eligibility…

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As you budget for the new year, it’s important to take base rates into account, especially if you’re on a variable rate mortgage as it could mean your payments change on a month-by-month basis. In this article, we’ll go through exactly what the Bank of England base rate is and how it could impact your…

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On 1st January 2025, the energy price cap in Scotland, England and Wales was increased by 1.2% and is set to cover January to March. This price cap is set by the UK’s energy regulator, Ofgem, and is essentially a limit on the unit rates and standing charges energy suppliers can charge for their standard…

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Getting your head around child maintenance can feel overwhelming, especially when you’re dealing with a changing family situation. However, whether you’re a single parent paying support or receiving it from a former partner, understanding how it works – and what knock-on effects it can have on your wider financial situation – can help reduce stress…

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Facing tax credit overpayment debt can be overwhelming and stressful. One unexpected notification from HMRC can quickly derail your financial stability, leaving you anxious about potential consequences. At MoneyPlus, we understand that these situations are rarely straightforward and can happen to anyone due to life changes, administrative errors, or misunderstandings. In this guide, we walk…

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As we step into 2025 – the cost of living crisis still ongoing – many people are carrying financial burdens that feel increasingly heavy. Rising living costs, unexpected expenses, and ongoing economic uncertainty have pushed many households to rely more heavily on credit, creating a debt situation that can seem difficult, if not impossible, to…

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