Facing Financial Problems

Posted by Paul Anderson Riley in Dealing with Debt on 12 January 2017 - Paul is a Credit Analyst at checkmyfile

No one should feel like money problems are unique to themselves, we all have to think about money at some point. Financial problems, job security, debt and redundancy are all issues that realistically should be considered. How we react to these factors can impact our lives and our wellbeing, but luckily there are many different facilities that aim to help those trying to cope with money worries.

Even when in control of money, we can sometimes feel unfamiliar emotions that cause us to doubt our financial standing. It is important to think about why we are feeling this way and not cause more worry by trying to ignore it. Professor David Richard of the University of Exeter says we can help to combat these fears using his top tips, "Be more active, face your fears, and don't drink too much alcohol."

Being active includes socialising and exercising, which can help to improve your mood if you’re feeling low. The NHS provides a webpage ‘Get fit for Free’ which helps those looking to exercise without spending. Keeping to a routine and staying active can help us to stay healthy physically and mentally. The NHS also provide guidance on how to keep a healthy diet on a low budget at the website.

Facing your fears means that you are not ignoring bills and are considering confronting debt problems. For specific help relating to confronting debt problems, you can contact the Citizens Advice Bureau or use other organisations like Money Advice Service, National Debtline and StepChange Debt Charity. If the emotional worry persists you should consider seeing your local GP or the Samaritans charity. Both are well equipped for non-judgmental and confidential guidance and support.

If you just want to keep an eye on your finances to help avoid future worries and don’t currently have debt trouble you can use services like checkmyfile.com to keep an eye on your credit report and see how you are currently represented by your credit history. Keeping a close eye on bank accounts and financial agreements can also help you to monitor fraud. All in all, it is important to acknowledge that you can access a number of different services that can help you to approach different financial situations.

Check Your Multi-Agency Credit Report

30 Day Free Trial

Dealing with debt collectors

Don’t think for a moment that you’ll never see a debt collector in your lifetime. Even if you have a sparklingly brilliant credit file, you could find yourselves facing a doorstep collector.

Published on 19 Feb 2018 by Barry Stamp

Full Article

Does Statute Barred Mean My Debt is Written Off?

If you look around on the internet for debt advice you might see one questionable tip popping up from time to time: ‘don’t pay off your debts, wait six years for it to become statute barred and you’ll be home scot-free.’ If this sounds too good to be true, that’s because it probably is, and if you think it’ll be without consequence you could be in for a nasty surprise.

Published on 10 Jan 2018 by Tom Magor

Full Article

How Your Credit Score is Affected When a Default Drops Off

If you’ve got one default, you might be counting down the days until it is no longer reported to the Credit Reference Agencies. But if you have more than one, will you see your Credit Score rise as each one drops off of your Credit Report?

Published on 4 Jan 2018 by Richard Catlin

Full Article

What could happen after a county court judgment is issued

Once a court judgment has been issued but the individual still refuses to pay the outstanding debt or come up with an agreement to clear it, the claimant has a number of legal remedies available to them through the court systems.

Published on 16 Jan 2017 by George Coburn

Full Article

Consolidating Debt

Do you have what seems a never-ending mountain of debt and you’re struggling to know what you’re paying and to who? If so, you may be considering debt consolidation, in particular a debt consolidation loan.

Published on 9 Jan 2017 by Ben Ryland

Full Article

Don't give yourself a Christmas hangover

If you are concerned about debt during the festive season you should get advice now, warns the National Debtline. 5m Brits worry about money in the run up to Christmas, with one in three adults putting their gifts on credit, and if you are one of them, more debt is the last thing you want for Christmas.

Published on 6 Dec 2016 by Kelly Luff

Full Article

Students understanding of debt is seriously lacking

Christmas is an expensive time of year. Though for many students, this is just as relevant for most other times of the year too.

Published on 29 Nov 2016 by Ben Ryland

Full Article

Insolvency and its effect on your credit score

Contrary to the belief of some, insolvency is not a ‘get out of jail free card’. When you are declared insolvent, the entry remains reported for 6 years on your credit file and will continue to pose a significant barrier to your chances of obtaining credit – even after the insolvency is discharged.

Published on 17 Nov 2016 by Tom Blandford

Full Article

Number of people going insolvent in England and Wales increases by almost a fifth

Personal insolvencies saw a 20% increase in the third quarter of this year compared to the same three months in 2015, based on data released from the Insolvency Service.

Published on 3 Nov 2016 by Ben Tumilty

Full Article

Credit Card debt sees highest growth since the Recession

Household credit card debt increased by more than £500m in October, pushing the amount owed on credit cards to £66bn – roughly £2,400 per household in the country.

Published on 2 Nov 2016 by Ben Tumilty

Full Article
keyboard_arrow_left

keyboard_arrow_right

We have loads of great customer reviews