Debt management is a state of arrears that usually involves working with a professional debt management charity or organisation to consolidate all your existing debts and pay them off through one account. If you are unable to repay your payday loan or debt, your creditors will always try to offer you a more flexible way to repay – typically a pay plan or arrangement.
Secured and unsecured loans are very different indeed, and knowing the difference between the two is essential before you make a decision as to which is best for you and your personal circumstances before you make any application. What is a secured loan?
Making thoughtful, balanced and well-informed decisions about your finances is essential. After all, you are the one who is going to have to live with the consequences. Financial education is so important for everyone. In our parent’s generation, financial management was far simpler. Salaries were either paid in cash or by cheque – which they would pay into their bank account.
Many of us have at some time or another may have been in a situation where we’ve been refused credit. So here is some advice how to improve or maintain your credit rating. What is a credit rating and how does it work? Your credit score will vary between different lenders.
It is quite amazing that while many young people leave school or university with a string of academic qualifications, they are at a loss to know how to organise their personal finances in the adult world. Unfortunately, even now, many schools and educational establishments fail to teach even the basics of financial management, so it often falls upon the shoulders of parents to accept that responsibility.