Subscribe to The Money StopNews Feed

Browse > Home / News, News-Credit-Cards / Don’t leave financial problems to get worse, says expert

Don’t leave financial problems to get worse, says expert

May 4, 2008 by admin  
Filed under News, News-Credit-Cards

Leave a Comment

People concerned about their financial situation should not simply leave the problem to get worse, warns a personal finance writer.

Cliff D’Arcy has said that tackling financial problems early will help people stay on top of their debts.

According to research by Monilink, 22 per cent of people have built up too much debt and are finding the repayments from month to month a strain.

Mr D’Arcy advises people to get in touch with their bank and credit card companies if they are facing financial problems as they may be able to freeze the interest or relax payments to allow customers to try to balance their budgets.

Another option for people who are worried about their debts is to contact a free debt counselling charity, such as the Consumer Credit Counselling Service (CCCS) or seek advice from a personal finance website.

Commenting on the help such organisations can offer, Mr D’Arcy said: “They have some very good advice written in plain English that will help you to deal with debt.”

Tags: financial situation, Money Management International, CCCS, Credit counseling, debts, finance website, writer, relax payments

Tags:

Related Entries

  • Don’t bail out friends and family with loans
    • A debt advice agency in the UK has warned that lending money to friends and family could have an adverse effect on both the lender and the borrower. Officials from the Debt Advice Bureau claim
  • Mortgage drought could affect many people
    • Industry experts have said that under current plans that have been proposed by the UK's financial regulator, the Financial Services Authority, many people could be facing a mortgage drought that could leave them unable to
  • Don’t put up with the energy price increases
    • Many households have received something of a financial shock over recent weeks, with notifications from their energy suppliers that the cost of energy usage is set to increase. For those who have not yet been
  • Brits don’t know how to detect ID theft
    • Almost all of us are aware that ID theft is a problem in the UK but worryingly, 42 million of us do not know how to check if we have been targeted.New research by Capital
  • Saving is sexy again, says expert
    • More people are putting aside money as saving is "becoming sexy again," according to an expert. Emma Byrne, a savings advisor, said that people aged between 18 to 34-years-old are increasingly seeing saving as a
  • Don’t rely on credit for household bills, says expert
    • People should refrain from using credit, loans and overdrafts to pay their household bills, the money education charity Credit Action has said.Although people have been increasingly using these facilities in the past year, the organisation
  • Recreated paperwork could cause problems for borrowers
    • According to a recent report many lenders tend to misplace or lose loan and credit agreements, and in some cases this paperwork is even disposed of, which means that if and when the banks need
  • Don’t let ‘money fear’ take grip
    • Sainsbury's Bank is encouraging Britons not to put their heads in a financial sandpit and to face the reality of their banking problems.Research carried out by the group suggests that some 2.8 million consumers, or

Speak Your Mind

Tell us what you're thinking...
and oh, if you want a pic to show with your comment, go get a gravatar!