Debt problems, mortgage arrears, how to make more money

Debt problems * mortgage arrears * how to make more money * reduce monthly outgoings * earn extra income from home * low cost loans * reduce gas bills * pay debts off fast

Start of article about debt problems.

Previous page about debt advice.

5. Will I look for FREE, PROFESSIONAL DEBT AND MONEY ADVICE?

Managing Debt - A Guide for Older People, Chapter 1, accepts that you may decide to go it alone when tackling your debts, although the book recommends you should at least take a second opinion. But if you do go it alone, the following suggestions are made.

Use a calculator and have access to a computer or typewriter and a photocopier
Keep copies of all letters from and to creditors (with proof of posting) and keep notes of all phone calls with the names of all persons spoken to
When negotiating stay calm always. Don't be afraid to ask to speak with a more senior person. Don't make agreements you can't afford or promises you can't keep. If you lose confidence seek advice. And if you take advice don't expect miracles and don't believe promises of miracles.

Low cost mortgage quotes         Mortgages in Scotland         Debt advisors         Secured loans
How to get rich         Money problems         Money saving ideas         Cheap secured finance
Money making ideas         Debt problems         Individual voluntary arrangements         How to get out of debt
Low interest mortgages         How to halve your food bills         Make money from the internet
Homeowner finance         How to earn an extra income         Cheap homeowner loans
Reduce utility bills         Earn money at home         Cheap unsecured loans

There follows a section outlining your options in some detail and which I have summarised (a)-(d).

a) FREE IMPARTIAL INDEPENDENT AND CONFIDENTIAL ADVICE

These agencies can mostly be found in the phone book or through your local library: Age Concern, The Money Advice Trust, Citizens Advice Bureaux, Law Centres, some local authorities (where you might find money advice with social services or in the housing, finance or trading standards departments).

b) INDEPENDENT ADVICE WHERE YOU MAY HAVE TO PAY A CONTRIBUTION

The Community Legal Service i.e. legal aid.

c) ADVICE WHERE A FEE WILL BE CHARGED

Solicitors and Chartered Accountants. In the case of the latter you might consult in particular Insolvency Practitioners.
Debt adjustment firms and debt negotiation firms. Be sure they're rescheduling your debts and not offering you a high interest loan. If an agency does try to persuade you to take a loan, speak to an IFA (independent financial adviser), making sure that the adviser does hold a Consumer Credit Licence and has so-called permission D in respect of debt adjusting and counselling.

Always have an eye to the firm's charging policy, especially to possibly high hourly fees, and be mistrustful of claims that guarantee success. Always ask yourself 'Can I get help elsewhere either free or cheaper?'

Mortgage arrears