August 2016

Millions are paying more than 40% of their income on debt repayments

The TUC and Unison have released a report which states that many families in the UK are living with "extreme problem debt”.

 
The report blames a drop in wages for plunging around 1.6 million families into extreme indebtedness as the value of real UK wages went down by 10.4% between 2007 and 2015.

Help to Buy ISA cannot be used for a house deposit

Thinking of using the Help to Buy ISA for a deposit on your first home? You will need to read the small print. 

 
It has emerged first-time buyers cannot use the Help to Buy ISA to boost their deposit, as it transpires that the Government bonus will not be paid out until after the house has been purchased.

The truth about those “write off your debts” claims

Is it possible to have your debts cleared?

 
Type in “debt” or “debt help” and you will be faced with numerous paid listings in Google, advertising that they can help you ‘clear’ your debt with a ‘Government Scheme’. They will also claim to have interest frozen and to stop lenders contacting you, which is music to the ears of anyone dealing with the stress of being in debt.