When dealing with your debts, it can be difficult to know where to start or how to begin moving towards getting debt free. We hope this article gives you all the information that you need and offers ways of seeking help to get in control of your debts in 2023.
Understanding and improving your credit score is a crucial step towards a successful financial future. In the UK, there are three primary options for reviewing your credit score; Experian, Equifax and TransUnion.
An Attachment of Earning Order (AEO) is a legal process that allows creditors to recover unpaid debts from your earnings. Unlike Direct Earnings Attachments (DEAs), which are used to recover benefit overpayments, AEOs can be applied debts such as court fines, council tax, and child maintenance payments.
There are several legal mechanisms that creditors or legal bodies can take against you in order to recover payments through your wage. In the UK, these include Attachment of Earnings Orders, Deductions of Earnings Orders and Direct Earnings Attachments. As each is unique and can affect your earnings in different ways, it’s important to understand…
Clearscore was founded in July 2015, and was the UK’s first provider of free credit scores allowing users to view a snapshot of their finances and reports, they also offer consumer advice and protection services.
A credit score is a simplified overview of your credit history, giving lenders and prospective loan providers a general idea of your previous credit commitments, repayments and reliability. Currently in the UK, credit scores are measured by three credit reference agencies (Experian, Equifax and TransUnion), who monitor and allow you to check your credit score.…
Is it possible to get a new mortgage whilst on a DMP? Those who are currently using a debt management plan – or looking to start one – will be wondering whether or not they will be able to get a new mortgage. A debt management plan, which is an agreement with your creditors to…
A debt management plan is what’s known as an informal debt solution, this means that there are no legal processes involved. Basically, you contact your creditors and agree to repay at a rate you can afford. Whilst we obviously recommend having a professional do this for you, it is certainly something that you can, if…
Can a debt management plan stop bailiffs? This is one of the most common questions people ask when looking for debt advice online. Each debt is different and the measures and protections a debt management plan can give a debtor ranges depending on the types of debts, amount of debts and any actions already taken…
Tips for paying your priority bills in 2024 With rising living costs, it’s becoming harder to keep up with household bills. As costs put a squeeze on household finances, paying your priority bills has become the main financial goal of 2024. What are priority bills? Priority bills are those that carry the most serious consequences…
Credit scores In its essence, a credit score is a number that lenders (banks, car finance dealers etc.) use to determine the risk associated with loaning money to someone. These lenders decide how much they’re willing to loan you (and at what interest rate) based on your credit score – it can also be checked by landlords…
DRO update: Are you eligible? The rules around eligibility for a Debt Relief Order (DRO) have changed as of 29th June 2021, which means that you may now be eligible when you might not have been before. What is a DRO? A DRO is a type of insolvency that allows you to write off your…