Financial Advice Guides

Articles to help UK residents who are experiencing financial problems. Advice ranges from UK law on Bankruptcy, dealing with bailiffs and bad credit, to general debt help and information on debt counseling and consolidating debts.

Administration Orders - Free Help and Advice
If you have debts of no more than £5000, an outstanding CCJ and 2 or more creditors, an Administration Order may allow you to make reduced repayments.


Attachment of Earning Orders - Free Help and Advice
An Attachment of Earning Order is an method a creditor can use to enforce payment of a CCJ by getting payment directly from your employer.


Bailiffs: What they are entitled to do and your rights
A bailiff is someone authorised by the courts to collect debts on behalf of someone owed money. This article includes advice on how they can gain access to your premises/home and items they can't seize.


Bank Charges - Are They Lawful ?
For years, banks have been getting away with issuing punitive charges that are not reflective of their costs. This maybe unlawful and you can challenge these charges, demanding a full refund, plus interest.


Charging Orders - Free Help and Advice
A Charging Order is one of serveral options a Creditor has to enforce a CCJ. It works by securing an unsecured debt against a debtor's property or other assets, this is called placing a charge on the property/asset.


Credit Reports, Credit Files and Credit Blacklists.
Your rights explained, contact details for the main UK credit agencies, (Experian, Equifax, CallCredit) plus sample letters requesting a copy of your credit report.


Credit Reports: CCJ Removal
An explaination of the process to follow for the removal of CCJ's and Default Notices from your credit file.


Credit Reports: Correcting Errors on your Report
Incorrect information on a credit report may be rectified by means of a Notice of Disassociation, Notice of Dispute or a Notice of Correction.


Credit Reports: Reasons for a Poor Credit Score
A guide to the factors which are used by UK lenders to determine a credit score.


Debt Consolidation
The principle behind Debt consolidation loans is fairly simple - you borrow a large lump sum to repay your creditors and are then left with one creditor and one monthly repayment.


Debt Help - Budgeting Tips
How to set a budget and save money. Practical Advice and Information for UK Residents with Debt Problems.


Gambling and Debt
Legislation dating back almost 300 years declares gambling debts are classed as a debt of honour and cannot be taken before a court.


Harassment from Creditors and Debt Collectors
Debt Collectors calling at your home are not bailiffs and they have no right to threaten you or to take away your possessions.


How Can I Consolidate My Debt Without a Loan ?
Debt consolidation is a process by which we negotiate with all of your creditors to obtain the lowest monthly obligation needed to satisfy all of your current accounts.


Insolvency Glossary of Terms - Jargon Buster
Brief Definitions of Insolvency and Bankruptcy Terms and Expressions for England and Wales.


Limitation Act and Unsecured Debts - Free Advice and Help
The 1980 Limitation Act 1980 states how long a creditor can chase someone for an unpaid debt. This articles explains how the limitation act applies to unsecured lending in England and Wales.


Loans UK - Secured Loans FAQ
An explanation of Secured loans with pros and cons over other types of credit.


Loans UK - Unsecured Loans FAQ
An explanation of Unsecured loans with pros and cons over other types of credit.


Mortgage Arrears - Advice for those with Money Problems
An overview of what you may be able to do if you are having problems paying your mortgage


Mortgage Types - A Guide to UK Mortages
There are essentially two types of mortgage, Repayment (capital and interest mortgage) and Interest only (ISA, pension or endowment mortgage).


Refused Credit ? Refused a Loan ?
Action you can take if you have been Refused Credit or Refused a Loan ? There are many reasons why a lender has refused to give you credit and course of action you can take to remedy this.


Sequestration - Bankruptcy in Scotland
A Sequestration is a Scottish legal term for personal bankruptcy where you are formally declared Bankrupt by the Court.


SIVA - Simple IVAs
The SIVA (or Simple IVA) is soon to replace the IVA as the Government looks to update the Insolvency Act 1986 to cater for the rising number of non-business related insolvencies.


Statutory Demands - Free Help and Advice
A Statutory Demand is a formal document which can be issued to a debtor who has loan repayment arrears. This is the first step of the legal process a creditor may use to obtain a court order to get you to repay your debt.


Tax and Debt: Magistrates’ Courts Proceedings
A basic Guide of Magistrates Court proceedings for the none payment of Taxes to the Inland Revenue. The magistrates have powers to send people to prison.


Tax and Debt: What is Distraint ?
Distraint is the legal process which allows the Inland Revenue to take your possessions for sale at auction towards settlement of an unpaid tax bill. They have the legal power to do this without a court order.


The Right to Offset - Why you should avoid debts with your Bank.
If you have debts with your bank, they can take money from you, whether you can afford it or not.


Time Orders - Free Help and Advice
A Time Order is a Court order a debtor can apply for to make changes to the terms a credit repayment agreement with a lender.


UK Insolvency Forms
PDF format Forms used in UK insolvency. n56, n92, ex160, n245.


UK Bankruptcy Advice - Truths and Myths, FAQ
Bankruptcy is a humiliating and public experience, it is also a very primitive and grossly unfair means of dealing with a debt situation, it is a no-win situation for all involved. Here we explain some of the truths and myths.


UK Insolvency Advice - Business Bankruptcy
A Guide to UK Insolvancy law concerning Business Bankruptcy.


UK Insolvency Advice - Liquidation
This liquidation FAQ (frequently asked questions) explains how a liquidation works under the Insolvency Act 1986 in England and Wales.


UK State Benefits
An Overview of State Benefits available to UK Residents. If you are in Debt, it may be the case that there are benefits available to you, which you are not claiming.


What is a CVA ? (Company Voluntary Arrangement)
A CVA is similar to an IVA, but for companies rather than individuals. It is a legal procedure that enables a company to make a binding agreement with its creditors describing how the company's debts and credit liabilities will be handled.


What is a PVA ? (Partnership Voluntary Arrangements)
A PVA is a formal insolvency procedure enabling a partnership to make a proposal to its creditors regarding payment of debts, or a scheme of recovery for the business interests involved.


What is a Trust Deed ?
A Trust Deed is similar to an IVA, but is used in Scotland. A Trust Deed is a formal agreement between you and your creditors. It passes your assets and property to a Trustee to be administered for the benefit of creditors and the payment of debts.


Which types of debts are Dischargeable within Bankruptcy ?
Debt Advice for UK residents explaining which types of debt are normally written off in a bankruptcy or IVA, and which type of debts must noramally be paid back.


Your legal rights: Coping with many Debts
Information for those with Multiple Debt Problems. If you have many different debts, there are several ways, using the courts, that you can help to sort things yourself.


Your legal rights: Council Tax Debt
Information for those with Debt Problems who are having difficulty paying Gas, Electric, Telephone of other household bills.


Your legal rights: Dealing with Bailiffs and Debt Collectors
Information for UK residents with Debt Problems who may have to deal with bailiffs.


Your legal rights: Gas, Electric and Water Bill Debts
Informarion for those with Debt Problems who are having difficutly paying Gas, Electric, Telephone and Water Bills.


Your legal rights: Hire Purchase (HP) Debt Problems
Information for those with Debt Problems resulting from Credit and Hire Purchase (HP) loans.


Your legal rights: Legal Protection for UK Residents with Debts
Information for UK Residents with Debt Problems with respect to available legal protection. Explanation of terms such as Undue influence, Limitation period, Harassment to repay, Credit licence and Unfair credit agreements.


Your legal rights: Loan and Credit Card problems
Information for UK residents with Debt Problems resulting from difficulties keeping up with loans and Credit card payents.


Your legal rights: When you can be in Prison with Debt.
Information for UK residents with Debt Problems who fear being sent to Jail.


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