The Consumer’s Guide to Escaping a Life of Debt

Debt Help Specialist

Debt Help Specialist

The modern world makes it relatively easy for hard-working people to quickly become embroiled in a never-ending cycle of debt and reliance on credit. Consumer credit is everywhere we turn, and although lending restrictions have tightened slightly in recent years, it is still far too easy to obtain inappropriate levels of debt. Thankfully, a specialist debt counsellor can now work with consumers in order to formulate a manageable repayment plan. Getting out of debt for good often requires help from people who know the law, and it involves a number of decisive actions taken on behalf of the consumer.

Formulating a Statement of Affairs

One of the first things a debt help specialist will do is to create a statement of affairs. This will involve recording all of a client’s income and outgoings. Such a statement will include everything from food to energy bills, and it is designed to provide an accurate reflection of a consumer’s financial position to creditors. At the end of this process, an accurate reflection of a consumer’s disposable income can be established; it is this figure that will be used to dictate how much each creditor will receive every month.

Implementing a Manageable Schedule of Repayment

The last thing a debt management plan should do is put more pressure on the debtor. That is why specialists can work with creditors to come to arrangements which are sustainable and acceptable to both parties. While there is no guarantee a creditor will accept a particular repayment schedule, specialists will know exactly what they are likely to accept. Coming to an agreement with creditors with such a schedule will stop any impending insolvency action, and that could allow people to rebuild their lives.

Continuous Help and Guidance

In a perfect world, all repayment plans would be completed; on time, and in full. However, as we don’t live in a perfect world, debt help specialists are there to support their clients and act on their behalf. Sadly, the threat of unemployment hangs of the heads of many people these days, and that can often mean that a person’s income can change with little notice. Having a trusted debt advisor to rely on for help and advice could mean the difference between facing insolvency and gaining a temporary repayment schedule until an income has been restored. Indeed, it is often the case that consumers repay their debts in full far quicker than an agreed schedule dictates. In these circumstances, a debt advisor could negotiate favourable early repayment discounts on a debt.

The spectre of debt looms large in the lives of millions of hard-working people in Britain. The recent economic problems have led to a sudden increase in loans from short-term loan providers, and the huge cost of such loans has left many people facing severe debt problems. Enlisting the help of a debt specialist is not a guarantee of a debt-free life, but in many cases it will lighten the burden of debt considerably.

Company Profile

1st Point Debt Solutions offers debt management solutions to help you resolve your debt problems.  If you require help on your payday loan debt, please visit –

Ways to reduce your banking rates in UK

Bank Rate

Bank Rate

When not checked, banking rats in the United Kingdom can be pain at times, which is the reason why one needs to be careful when using any bank’s services. Although many people might not notice it, some banks have hidden charges within their service.  This is the reason why it is always advisable for any banker to make sure that he or she understands all the services their bank offers, and whatever rates or charges that comes with the same. Seven out of ten people using banking services are not quite aware of the extra coins they have to pay as bank charges, nor do they care about it. If you do your own math, you will notice that, the charges or bank rates charged on your account per annum can pay a reasonable amount in your bills.

Here are a few ways that can help you save much on banking interests per year;-

Pay all your bills at a go:- many people have a tendency of paying bills bit by bit, and on different days of the month.  Doing this attracts more interest rates than you could imagine, because with every transaction you make with a bank to pay a bill, there is a charge to that.   However, if you can accumulate all the bills at once and pay them in one go, it will then be cheaper on your side, as the bank will only charge you once. If paying the bills via the bank at one go is not possible, you can then try withdrawing all the cash you need to pay the bills at one go, and then pay in cash. This will be much cheaper than having the bank pay out the bills for you.

Make use of a personal current account:- Most banks offer they personal current account to individuals for free. This means that, there are no monthly fees on the account, and you are only charged when you withdraw cash alone. This is to say that, if ever you have a personal current account, you will have minimal banking rates to pay to your bank, hence the ultimate way to save on the little amount of money you have.  Most peasant earners in the UK use this account because it is the only account free from interest rates and monthly fees.

Use internet banking:- banks charge a certain amount of money for ledgers and other banking statements as you request them. If you have to use these statements in your day to day life, then internet banking could be the best way to access your banking records.  With internet baking in the United Kingdom, you only need to pay a one-time fee of accessing your account, and with this service, you will be able to access all your records, and evaluate them as you like. This will also help you save much on banking rates.

Use an interest earning account:- if you are in a stable working environment, and with steady cash coming into your account, it is then advisable for you to open an account that earns interest with the amount you have in the account.  Every single cent in the account should earn interest with a certain percentage. However, window shopping for such an account is required for you to get the best rates in the market.

How to Make Money Online

Financial Betting

Financial Betting

You spend so much time hunched over your computer, but there are actually a number of ways in which you could make some money as you do so.

The popularity of spread betting has exploded in recent years. This is a form of financial betting where you bet on the direction in which a market moves, and there are thousands of things on which you could place a wager. Trades can be as little as £1. You make a profit or loss on the number of points of the movement multiplied by your stake. The results can be dramatically good or bad, but proceeds are not subject to income or capital gains tax or stamp duty. A number of spread betting companies exist.

If you post a video to YouTube which includes an advert, you will receive a percentage of the money made. This can be accomplished through a product’s affiliate programme, and these can be found at Commission Juncion. The amount per view is very low, but you could get rich if you produce something people want to watch and share and the video goes viral. The 56 second video, Charlie Bit my Finger made more than £100,000 for its creator. You will only be paid if the video makes more than £60. You can make more money if a video actually mentions a product. You can get noticed by making videos for free for a local business, after which other advertisers could well contact you.

You could sell stock photos at sites such as iStockPhoto. You can increase the likelihood of success by investigating what sells well.

Items can be sold on eBay. Again, you should be particular about what you sell. Old laptops could be a goldmine, although they should be formatted to remove all of the previous owner’s data. You could go door to door in the nicer neighbourhoods of your town offering to profitably relieve people of unwanted items, and take a commission of at least 25 percent. Customers will be happy to rid themselves of old junk.

You could write articles. The largest website aiming to unite contractors with employers is Odesk. Another company – eHow pays a percentage of the ad revenue for articles. Often, the rate is only a dollar (65p) for 500 words, but some organisations pay as much as £15. If an article were very good, it could be submitted to a publication. Sites such as ODesk also have audio transcription jobs, although they don’t pay well.

Ebooks could also be written, and ebooks as short as 12 pages could make £65. The trick is to think of a subject people are desperate to know about. You should ask yourself when you or someone you know was in a situation where information could have saved much money or anguish. Financial, legal and medical situations could be good bets.

Many local businesses have websites, but gain little benefit from them. Others have no website at all. If you can use WordPress and are knowledgeable of Search Engine Optimisation, you would be offering to do something of which a local business was not capable, and could make a proposal which was very attractive. If you get results, business will happily pay. You can find customers by going door-to-door.

If you are of an artistic bent, you could create logos or other designs for companies. 99 Designs is the most popular marketplace. Competition will be stiff.

Credit tips for Recession


Tips For Recession

One of the biggest challenges of the modern day world that most of the leading countries are facing is the challenge of economic recession. They are finding it very difficult to cope through the situation as it hits badly not only on the personal front but professionally too. Economic Recession is the term used for any country whose gross domestic product has declined continuously for more than three quarters in a row. Falling stock prices, high unemployment rates, increasing foreclosures are all the    It is a very challenging situation which cannot be dealt overnight. It requires considerable effort from each and every person of the society to eliminate the problem right from the root. If you are willing to spend some money either for investment purpose or for personal use it is highly recommended to hire a professional and to secure the best deal protecting all your money. Still the problem at hand is massive and it depends on multiple factors which need to be clear to each and every citizen of the country. Here are some important points which need to be followed by heart for getting through the entire phase:-

  • People who are always dependent on the fix source of income that is all those who get their salaries pay check to pay check are worst affected by the recession. There must be a habit of keeping a regular check on the bank transactions, that is keeping in track of every single money spend or is deposited in your account.
  • You have to cut short on your expenses, especially the ones which are only meant for recreational purposes. The philosophy of “Money saved is money earned” must be followed by each and every citizen of the country.
  • Avoid the use of credit cards as much as you can, being into debt is one of the main features responsible for putting the state into recession in the first place. Avoid borrowing money either from your relatives or from your colleagues, always prepares for the worst situations that can happen.
  • Be prepared, you may get the pink slip at your work. So it is your duty to devise a contingency plan and also try to find an alternative job just in case you lose your permanent one.
  • You have to use your emergency fund if situation comes down to that, never try to borrow at any interest rate; it hurts your credit ratings in the long run.
  • Never be late on your monthly bills that is never keep waiting for last minute to pay your bills this improves your credit outstanding and makes you safe.
  • Never close the existing credit accounts as it is completely understood that it is highly tempting to go after the account which is already paid of just to clear the head out, but it not only hurts your credit ratings but also is liable to your image in the financial institute.
  • Try focusing on increasing the value of the product you are either selling or manufacturing rather simply concentrating on the cost.