BBA General Debt Advice

[Amethyst]

Angela Knight gives some advice none of us would ever have thought of before




"The economists all tell us 2008 is going to be a difficult year. Certainly, the financial indicators in the last few months have indicated this."
"The housing market has cooled. The BBA's own figures show mortgage approvals at a historically low level. High Street sales started before Christmas - even if the picture has been a bit better in the last few days with people snapping up bargains. Council tax and heating bills have gone up and the consequences of the American housing problem - known as the 'credit crunch' - still coming though."


"So for 2008, on an individual basis as well as the UK as a whole, being financially careful has got to be the right thing to do. There are little things we can all resolve to do without making radical changes - here are my top five tips:"

• keep an eye on your spending - check your bank statements;
• don't ignore the bills - where you can arrange to, pay monthly so you can budget more cleverly and spread the cost;
• be careful with the credit card - if you're tempted to overdo it, leave the card at home;
• start to save - or save a bit more. There are some good offers out there as banks compete for your cash; and
• finally, if you think you are heading for difficult financial times, go and talk to your bank sooner rather than later. Banks are fully signed up to the enforceable responsible lending practices in the Banking Code. Yes, they want to lend money but they want to do it the right way by lending to people who are going to be able to make the repayments. So, if your bank turns down your request for a loan then think hard before you go and borrow elsewhere.

"And if the worst happens and you get into difficulty, talk to your lender before signing up for 'get-of-out-debt-free' scheme you might see advertised as there is no such thing."

[Kafka]

Re: BBA General Debt Advice

PURE GENIUS FROM COMICAL ANGIE

This will certainly expedite and end to the credit crisis,

never argue with a woman with confidence
msl:msl:msl:msl:msl:msl:

[Paule]

Re: BBA General Debt Advice

"talk to your lender before signing up for 'get-of-out-debt-free' scheme you might see advertised as there is no such thing."

But the banks do offer a 'get-in-debt-free' scheme, most current accounts nowadays have the built in facilty to charge you for going overdrawn, bouncing cheques and refusing direct debits, which can build up your debts quickly and easily with no effort from yourself what-so-ever.

[Amethyst]

Re: BBA General Debt Advice

:laugh:

[Sapphire]

Re: BBA General Debt Advice

Brilliant msl: