Welcome to ThePeoplesDebt.com – Debt Relief Advice and Tips for UK Consumers
Looking for help and advice on your debt problems then you’ve come to the right place. The Peoples Debt is here to help. All debt issues can be solved providing you take action and follow the right guidance. Any existing debt you have should be treated urgently and if done correctly you can be Debt Free and stress free in no time at all.
Got Debt Problems, Don’t Panic…The first thing you need to do is to not panic. You’re not alone here. There are millions of people facing debt issues in the UK. The good thing is you have decided to do something about it.
Are you in Debt Crisis?
The are 2 main forms of debt:
- The first being debt crisis and you need serious help.
- The other form being you simply have debt problems – you may have a large amount of debt but it can be managed. This is much easier to solve without seeking Debt Relief Orders etc.
Understanding which type of debt can be helpful so that you can make the right decisions about what actions you must take to help you reduce your debt in the most efficient way possible.
To find out if you are in debt crisis, ask yourself this question ‘Are you struggling to pay all you basic outgoings such as rent/mortgage, utility bills and any existing minimum card or loan repayments?’ If the answer is Yes then you have Debt Crisis sitation.
Got big debt but are able to make ends meet each month and can afford to pay those minimum payments then you aren’t in Debt crisis, but you do have problem debt. Do you think you are able to deal with your debts by yourself? If you can then our advice would be to contact each creditor from existing loans or credit cards etc and ask if they can lower the interest charges. Most creditors will be able to help someway. Some may even offer a loan to pay off the smaller debts.
So once you understand what your financial situation is then you can focus on ways to help solve your debt problems.
Not in Debt Crisis but have big debt problems, read on…
First thing you need to do is make a budget. write down all the income and outgoings including everything. Go through your statements to make sure you don’t miss anything out. Include as much information as you can including potential future expenses so you know how much you need in your account each month to make ends meet.
Once you’ve got your budget then look at anything on their than isn’t essential items, such as mortgage/rent, utility bills like Gas, Water, Electricity. Any regular payments, council tax etc, then look at luxury items such as meals out, trips to the cinema, coffees, magasine subscriptions, sky packages etc. There are plenty of ways you can change providers or products and save. Also be careful with your shopping, look out for lucky voucher codes to cut the costs down and only buy what you need!
Do you have any unwanted items such as books, cds, dvds, or games that you could either sell at auction via eBay or through specialist sites. You can trade in items and also get added 10% bonus using this Ziffit promo code.
Have you got any savings. If you do have savings elsewhere then you should definitely pay off your debt with your savings. Especially as you will not be making much interest in todays climate on any savings, at best a couple of percent where as your debt payments may be charging upwards of 15% APR.
Not all lending options are a bad thing if used correctly. some lenders are following responsible lending and they try to make it clear that the loans their network provides are only a short-term solution and should not be used if you have long term financial issues. These short term loan solutions can be useful to people who are face debt issues as normal lending options aren’t available. Be sure to look out for Wonga Promo Codes to save paying any application fees! Credit cards are ok providing you pay off the balance as soon as possible and not just the minimum payment.