On many occasions I have encountered people who say that bankruptcy is the “easy way out” of debt. Some people think that bankruptcy wipes off 100% of debt, and you can be completely debt free within 12 months. Unfortunately this isn’t always the case and, therefore, bankruptcy … [Read more...]
Selling your home to repay for debts?
For some people in debt selling their home is an option to raise the funds to pay off their creditors. If you are a home owner with equity in your property this could be an option for you. . If this is a route you think would be suitable for you read our top tips for what to do:. Get together all … [Read more...]
Why do I need help with my debts?
I recently came across a thread on a forum where a debtor asked “what can I do about my debt?” The reply from a debt advisor suggested that they call a free debt advice agency such as Payplan to get free and impartial advice. To which a reply for another forum user suggested they set up a plan … [Read more...]
In a plan and taken out more credit.
I recently came across a post from a worried Payplan client on a forum, they had been in a Debt Management Plan for a couple of years with everything running smoothly until an unexpected cost came along and they found themselves having to take out credit to pay for it. Then they panicked about … [Read more...]
Does anyone need to know I am in debt?
We live in a culture where discussing debt is taboo. We worry about what people will think if they were to find out that we had money troubles. We think that we are the only ones to go through this. The truth is hundreds of thousands of people are in debt: some unable to pay it back, others managing … [Read more...]
Bank of Mum and Dad
The bank of “Mum and Dad” can seem like the best bank to go to, they won’t charge you interest, they won’t chase your debts and they won’t threaten you with legal action. But is it really the easy way out? A trend that we are seeing at the moment is groups of 18-25 … [Read more...]
