TweetShareThose struggling during the current credit crunch have been advised to implement a budget plan by one finance charity. The Consumer Credit Counselling Service (CCCS) – which provides information to those in financial difficulty – has urged people to take this option, rather than selling items to reduce their debt or increase disposable income. “By [...]
Archive for October, 2008
‘Establish debt plan’ advises financial charity
by News Team on October 31st, 2008
Credit crunch ‘affecting small firms’
by News Team on October 31st, 2008
TweetShareSmall businesses are struggling in the current economic climate, with one in ten unable to afford to continue operating, research from insurance group RSA has revealed. According to the data, 11 per cent of small and medium-sized businesses (SMEs) in the UK are unable to continue running, while 56 per cent have had to increase [...]
Nationwide to fund debt advisor training
by News Team on October 31st, 2008
TweetShareNationwide has announced a new partnership with the Citizens Advice, which will result in 1,300 volunteer finance advisors being trained during the next three years. The building society is to invest £3 million in the scheme, which will enable the staff to provide advice on financial issues such as bankruptcy and debt to local people [...]
Interest-only mortgages are a “last resort”
by News Team on October 30th, 2008
TweetShareMortgage borrowers looking to reduce their debt have been urged to resist the temptation to switch to an interest-only package by a price comparison website. Moneysupermarket.com has advised those considering of making the move – possibly in an effort to avoid bankruptcy – to do so as a “last resort”, as it will result in [...]
Alliance & Leicester introduces lower rates for mortgages
by News Team on October 30th, 2008
TweetShareAlliance & Leicester has announced a reduction in the interest rate on a number of its mortgage packages. According to the firm, the new range of fixed-rate finance options will see reductions of between 0.2 per cent and 0.3 per cent, which could attract homeowners seeking a more effective debt management strategy for their property. [...]
Data reveals home repossession increase
by News Team on October 30th, 2008
TweetShareRepossession levels increased during the second quarter of 2008, new figures from the Financial Services Authority have revealed. According to the new data, instances of homes being repossessed – which may have occurred due to owners falling into debt or becoming bankrupt – increased by 71 per cent during the period, resulting in over 11,000 [...]

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