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Friday 30 November 2012

Seasonal Financial Advice from H&F CAB

HAVE A HAPPY CHRISTMAS

Whether it’s the most wonderful time of the year, or just the chance for a few days off work? Don’t end the festive break with a financial hangover. Little changes now can mean big improvements to your wallet. And, if you have big money problems now, there is probably a solution that can change that.

I'm not talking “the little known piece of legislation that can wipe off up to 75% of your debts!” I assume you have seen that on TV ads. This legislation has been around for 2 decades and is highly profitable to the debt companies that advertise on TV. You just need to have £15,000 or more unsecured debt. Call one of these companies and see what they will charge but don’t sign up as this service can be FREE for you. (Not from them of course.)

What about a Debt Relief Order – less than £15,000 in unsecured debt can be written off in certain circumstances – mainly for people struggling on low pay or benefits. DROs are aimed at people with few or no assets who have very little money to pay back to their creditors, and little prospect of their situation improving.

If you want good information on managing your money, visit the Citizens Advice Bureau website at www.adviceguide.org.uk

Creditors make a lot of money because people assume they can do nothing.

Let me leave you with something to think about. Most people can justify asking their banks and credit cards to freeze interest and charges – especially if you are only able to afford minimum repayments. Write to them and start taking control.

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