If you’re using a Debt Management Plan (DMP) or considering starting one, you might be wondering if getting a new mortgage is even possible. The truth is, obtaining a mortgage while dealing with significant debt can be challenging, especially if you have entered into a formal debt management solution. However, that’s not to say it’s…
Retirement is often seen as a time to relax and enjoy the benefits of years of hard work. However, for many, the reality is more complicated due to lingering debts. If you’re approaching retirement age and still have outstanding debts, you might be wondering if you can truly afford to retire. This guide will delve…
It was a while in the making, but since 2021, Breathing Space – also known as the Debt Respite Scheme – has been available in the UK. This Government-backed scheme is designed to help those struggling with debt by offering legal protection from creditor action, including enforcement action, additional interest, charges, and general contact, for…
At a time when financial challenges have become increasingly common, those facing overwhelming debt are looking for solutions to regain control of their financial health. One popular option is Individual Voluntary Arrangements (IVAs)*. This article will explore the rise of IVAs, the reasons behind their increase in popularity, and why they stand out as a…
When you’re dealing with significant debt, things can quickly become overwhelming. Day-to-day tasks can become more stressful and life can be made especially daunting if you’re also being faced with the prospect of bailiffs knocking on your door. Employed by creditors to recover unpaid debts, the thought of these collection agents turning up at your…
Debt collection is the process used by creditors to get money back that hasn’t been paid by individuals or businesses who owe it. It’s important for both the people trying to collect the debt and those who owe the money to understand each step of this process. This helps creditors recover their money and makes…
Can an IVA Take My Inheritance? Coming into an inheritance can be a significant financial event in your life. We take a look at the intricacies of IVAs when it comes to dealing with windfalls such as inheritance, and what you might need to consider if you’re thinking of entering into one of these agreements.…
Can You Inherit Debt from Your Parents? Dealing with the death of a parent is tough, especially when complicated finances are involved. Here, MoneyPlus explores whether parental debt can be inherited. When a parent passes away, it can be a really difficult time, both emotionally and financially. Alongside the natural feelings of grief and sadness…
Who Is Responsible for Debt After a Separation In this guide we look to explain the legal implications of debt division after a breakup and outline how financial unions can be dissolved in a fair and civil manner. It’s never easy when a relationship comes to an end. Alongside the emotional distress and sense of…
Dealing with significant debt is not only overwhelming, it can also have a negative impact on your life and health. If this is the case, a professional debt management solution is often your best course of action. While Debt Management Plans (DMPs) and Debt Relief Orders (DROs) may be the best option if you find…
Dealing with long-term debt can be stressful; the thought of constant chasing from creditors can lead to feelings of anxiety, worry and even depression. However, the good news is, in the UK there’s typically a limitation period on many types of debt, including card debt and personal loan repayments. Of course, this does not mean…
Debt relief solutions can give hope to those struggling with crippling debt. Here, we explore what these solutions look like in practice. If you find yourself struggling with debt, it can be hard to see light at the end of the tunnel. That’s why it’s important to understand that no matter the type of debt. …