Essentially Home Loans Weblog

As an increasing amount of people face ever-mounting debt, some have started to consider individual voluntary arrangements (IVAs) as a way of avoiding bankruptcy. First created in the 80s to help businesses avoid bankruptcy, they are now also available to individuals who are unable to solve their financial problems.

Many people find themselves sinking in debt up to neck deep. However you can get relief from this. The consolidation can be very effective way and there are different ways of using it. Main reasons for your debt include overspending, losing a job and getting divorced. Getting out of debt is the only option, no matter how much debt you have to pay. You should start this process and follow the instructions given below.

Many analysts in the financial industry are upset at the way many debt management firms are using high interest, increased repossessions, and insolvency rates to sell financial products, sometimes to consumers who do not need them. This trend is growing as fast as the debt management industry itself. This is causing many people to avoid [...]

Analysts are suggesting that parents follow the government’s lead and educate their children in financial matters, to prevent them falling into financial difficulties in the future. Integral to success is the understanding of your credit report, says credit reference agency Callcredit The plans of the Government to help school children tackle personal finance issues are [...]

It comes in a simple brochure offering consumers “leading financial brands in one easy-to-use booklet”.   The brochure states it has “brought together some of the leading brands to help you get the deal that’s exactly right for you”. “Confused about insurance? Worried about mortgages? Looking for a loan? Relax – it’s all here!” Unfortunately, all [...]

BANKS are facing criticism after two more firms have posted their share of the £40bn profits earned in 2006.  The banks have recently reported record pre-tax profits, despite writing off record levels of bad debts. Charity groups are angry that the banks are profiting from lending consumers debts they cannot afford, and then refusing to [...]

The Institute for Fiscal Studies recently announced increases in house prices and incomes have increased enough to prevent debt from causing serious, wide spread, insolvency problems.  They believe that the debt problem is most prevalent among society’s poorest. Their report claims that many the low income families eventually turn to loan sharks for relief, because [...]

Increasing numbers of homeowners are taking advantage of the rising house prices and relatively low interest rates to remortgage, or borrow secured loans, and consolidate their debts. The rapid growth of personal debt and how people repay it is causing concern and raising debate. The Bank of England is concerned about the long-term effect of [...]