It’s normal to feel pressured to reach significant life milestones by a certain age. However, statistics show that achieving major life events at an older age is increasingly common. Moving out of the family home, purchasing a first property, or becoming a grandparent are experiences many people now have later in life. Economic, societal, and…
Research shows that social media significantly influences consumer behaviour. Shaping the way we communicate, consume information, and spend our money. According to the 2023 Commence Report, which surveyed individuals aged 16-24, millennials and Gen Z (born between 1997 and 2012) are 51% more inclined to make impulse purchases online. With platforms like Instagram, Facebook, TikTok…
Managing energy debt can be overwhelming, especially when utility bills become unsustainable. To help you stay in control of your finances, this guide provides an overview of what utility debt is and how, if at all, it may be possible to write off this form of debt. What is utility debt? As the name suggests,…
Securing a mortgage while managing debt can be complex, especially in the current economic environment. However, it’s not impossible. In this guide, we walk you through the essential considerations for obtaining a mortgage when you have existing debt, offering a comprehensive understanding of what lenders look for and how you can improve your chances. What…
Many people today find it challenging to manage their bills and pay off their debts. Starting a side hustle can be an effective way to alleviate debt anxiety, earn extra income, and tackle financial challenges. By generating additional earnings, a side hustle may help you pay off your debt more quickly. In this guide, we’ll…
Changing attitudes toward debt In the past, debt was something to be avoided. People would save up for what they needed and only take on debt as a last resort. Mortgages were the exception, but even those were approached with caution. Nowadays, debt has become much more acceptable. Credit cards, personal loans, and other forms…
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…
Struggling with debt can feel very overwhelming, especially when it spirals into a full-blown debt crisis. For many living with debt, sleepless nights, a constant feeling of stress, and even an ongoing sense of helplessness and dread are common. However, it’s essential to remember that, no matter how bad your financial situation might seem, there…
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…
Over the past few years, the UK has seen a big change in how we view and manage personal debt. What used to be avoided is now a normal part of everyday life, with various types of credit being used more frequently. Buy Now, Pay Later (BNPL) products are becoming an increasingly popular payment method…
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…