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Start of article about debt problems.

Previous page about debt advice.

Tony Palmer begins his book with a chapter containing case studies, one of which we have looked at. He then devotes three chapters to the valuable topic of keeping out of debt, giving advice on credit, house buying and borrowing. He includes some mention of Credit Unions.

He then looks in closer detail at each of a series of debt issues such as other loans secured on your home, tenancy problems, council tax arrears, hire purchase, money owed to banks, debts to family and friends and CSA payments. Like Keen he insists homeowners should never voluntarily give up on their property and he has a further short but interesting section on what to do if your creditors won't play ball.

He concludes his chapter 6 with a section setting out some of your rights when your creditors turn nasty, asserting that they are subject to legal limits on their behaviour which apply equally to any Debt Collection Agency that buys your debt.

Palmer's final chapter is entitled If the worst comes to the worst, where the worst is a County Court appearance. He gives advice on procedure and usefully points out that if you're actually intending to defend your case you really should seek advice and help from Citizens Advice Bureaux.

Being taken to Court, he says, like bankruptcy, does actually have its advantages - as well as significant disadvantages.

Lorraine Turner's advice is as wide-ranging as that in my previously mentioned sources.

• Throughout the book she has frequent Useful tip displays. On page 29 for example she points out that if you need to find out a realistic selling price for your house you shouldn't be looking at estate agents' windows but at actual house sales in your area.
  
  
• She gives a useful reminder about the ownership of your debts: it can change, and a new owner (say, a new mortgage lender) may well change your terms. This could be to your advantage or not.
  
  
• Chapter 7 Time is Money begins from the principle that time is money and helps you make better use of your time.
  
  
• Chapter 8 Understanding Borrowing and Lending deals with interest rates, percentages, the duration of loans (i.e. how long they last) and reasons for borrowing. There is advice also on making your money work harder for you, and a word of caution from this author too about debt consolidation.
  
  
• Chapter 9 Managing your Money offers advice on using credit cards, understanding mortgages and mortgage insurance, and personal loans. There is also a section on reducing your tax liability.

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