Debt Help Expert

Money Lenders

Mon, 22 Oct 2007 16:51:13 +0100

Money Lenders have been operating since the Middle Ages, so it should come as no surprise that there are a growing number who charge extortionate rates of interest and who are targeting the most vulnerable of society. These are nothing more than legal Loan Sharks and a few have even been floated on the stock market! Yes, they will have a Consumer Credit Agreement Licence and must be a registered company, their websites clearly state the APR so why do people still use them? A quick Google search pulled up interest rates in excess of 578%! No, we haven?t left out a decimal point, that really is five hundred and seventy eight percent. Surely no one would pay that? Sadly people do, as these companies aggressively target people in receipt of benefits or who are on low income, people who are struggling to make ends meet. Once they have them hooked the...

Trust Deed FAQ

Wed, 05 Sep 2007 00:24:22 +0100

applies to Scotland only What is a Trust Deed? (#2) Can I do this on our own? (#3) Who deals with my Creditors? (#4) Can anyone apply for a Trust Deed? (#5) What is the minimum debt allowed before I can enter in to a Trust Deed? (#6) Does every Creditor have to agree to the Trust Deed? (#7) How long will the Trust Deed last? (#8) Are all of my Creditors bound by the Trust Deed? (#9) How do I prevent Court Action (also known as Diligence) being taken out against me? (#10) Who pays for the Trust Deed? (#11) Will I have to sell my home? (#12) Can I enter in to a Trust Deed even if I do not have any assets? (#13) Will my Trust Deed be advertised in the Press? (#14) Can I remain a Company Director of a Limited Company? (#15) What is a Trust Deed?A Trust deed is a legally binding agreement between a Debtor and their Creditors. Can...

Trust Deed

Tue, 04 Sep 2007 23:59:02 +0100

(applies to Scotland Only) A Trust Deed is a formal agreement between a Debtor and their Creditors. To enter in to a Trust Deed it is necessary to instruct an Insolvency Practitioner to act on your behalf. The Insolvency Practitioner acts as your Trustee and will liaise with all of your creditors. You will be asked to provide an income and expenditure breakdown and a list of Creditors with recent statements. At this stage it is very important that you include all of your expenditure and be honest with your Trustee; they can only go by what you have told them. With this information your Trustee will prepare a proposal to all of your Creditors. Your Creditors will be asked to vote for or against the Trust Deed. For a Trust Deed to be successful 67% of your Creditors must vote for the proposal. Once the Trust Deed has been agreed, it will...

Individual Voluntary Agreement

Fri, 31 Aug 2007 05:01:04 +0100

In the 2nd quarter of 2007 the number of people who entered in to Individual Voluntary Agreements dropped by 15.1%. This is almost certainly due to the growing number of creditors demanding higher dividends. Most banks are now requesting 55 pence in the pound. One bank in particular has been incredibly unhelpful by refusing to vote for an Individual Voluntary Agreement; this in turn is forcing a growing numbers to declare Bankruptcy. In many cases this bank holds more than 25% of the casting vote and as an Individual Voluntary Agreement needs 75% of the vote to be for the agreement this bank is able to veto the Individual Voluntary Agreement. Due to their stubborness to agree to the proposed dividend many people who have debts with them are being advised to declare themselves insolvent via a bankruptcy petition. Why has one lender taken this stance? Surely it would be better to...

Best Credit Card Deals

Thu, 30 Aug 2007 07:39:42 +0100

Consumers are feeling the impact of the recent interest rate rises, not only are you paying more for your Mortgages but your credit card rates will have increased too. So to make your Credit Card work hard for you DHE have brought you the best deals we found. 0% on Balance TransfersLenderStandard Rate APR0% balance transfer periodFeePurchasesMint14.9%1st Dec 20082.5% 1st May 2008Barclaycard14.9%14 months2.5%0% for 3 monthsTesco14.9%12 months2.5%0% for 3 monthsBarclays Flexi15.9%1st May 20083%0% for 10 monthsCapital One15.9%1st May 20083%1st May 2008 Introductory RatesLenderStandard Rate APR0% Introductory periodInterest free periodPurchasesHalifax15.9%12 months59 Days0%HSBC15.9%12 months56 Days0%Marks Spencer’s17.9%31st March 200855 Days0%Sainsbury Bank15.9%12 months50 Days0% Best Standard RatesLenderRateCard typeBarclaycard6.8%Simplicity VisaHalifax8.9%Flat Rate McardIntelligent Finance8.9%Flat Rate McardCapital One9.9%PlatinumCo-op11.9%Clear Visa These rates may not be available to all applicants and will be subject to status. Fees as stated may vary dependant on product.