Why is Unsecured Debt Bad?
Unsecured debt, like a personal loan, is a very straightforward way to borrow money. You received an amount of money from the lender and you agree to pay that money back in instalments along with any interest.
Day: 16 September 2021
Can I Get a Mortgage with Mortgage Arrears?
The answer to this will largely depend on your lender. Some lenders are stricter than others…
Logbook Loan – Can They Take My Car?
If you have taken out a logbook loan, then in effect you have already handed the legal ownership of your car over to the lender. They are agreeing to allow you to continue to use it.
What Happens if I Don’t Pay Hire Purchase?
Hire Purchase is most commonly used to buy cars; however, some businesses will use it to purchase expensive equipment. As long as you consistently make your repayments, once your payment term has ended, you will own the item outright.
Is Secured or Unsecured Better?
Finance agreements and debts generally fall under two categories: secured or unsecured. Secured debt means that you have offered an asset as collateral, should you fail to pay the debt.
What is the Purpose of a Sequestration Order?
Sequestration is a form of bankruptcy that is only available in Scotland, however it is very similar to the version of bankruptcy available in the rest of the UK.
What is MAP Insolvency?
Minimal Asset Process is a type of bankruptcy only available in Scotland. It is designed to give those with debts they can’t repay within a reasonable amount of time a fresh start.
Is a Debt Arrangement Scheme an Insolvency?
When finances are tight, making a meaningful dent in A DAS is not an insolvency. your debt can feel like an impossible task. Unfortunately, there is no escaping the fact that, if you want to increase your repayments, then you will either need to cut you outgoings or increase your income. Read below for some tips on how to do this.
What Percentage Should I Offer to Settle Debt?
If you have been lucky enough to receive a windfall of money and you want to use it to clear off some debt that has been troublesome in the past, then a Debt Settlement Offer can be a great way of doing so. A DSO involves contacting your individual lenders and ‘making them an offer’. The offer you make should obviously be lower than the actual amount you owe. Under the correct set of circumstances, your lender may consider it in their own best interests to take the money. But how much should you offer?