Online debt collection

Author: Mark Dawson

With Britons continuing to struggle with money, it is important that they take steps to ensure the heat on their financial situation is not turned up even further.

Such is the claim of uSwitch, which reports that despite a series of price increases occurring earlier in 2008, consumers should prepare themselves for at least one more round of hikes in the cost of gas and electricity. According to the price comparison firm, experts believe that the cost of energy bills are set to surge by up to 40 per cent over the remainder of this year. Such a move would see the typical household bill stand at 1,467 pounds by this winter, a rise of 61 per cent from the 912 pounds which was noted at the start of the year.

Author: Devora Witts

When you are thinking about consolidating your student debt, there is an issue that may arise and you should be prepared to make a well informed decision. Otherwise you might end up paying thousands of dollars in interests that you could have avoided. This issue is whether to consolidate your government and private loans combined or separated.

As you might have guessed, this issue comes to pass only if you have both Federal Student Loans (or another form of government student loan) and private student loans. Government loans usually have lower interest rates since they are based on the applicant’s needs and not on his credit. Private loans on the other side, have usually higher interest rates.

Author: Steve Smith

Mind, the UK mental health charity, has suggested that lenders need to act in a responsible manner when dealing with people who have problematic debts.

Comments from the organisation follow the first Mind Week, which took place between May 10th and 17th and aimed to promote better understanding of the link between substantial debt and adverse effects on individuals’ mental health. According to a recent study released by the group to coincide with Mind Week, more than nine out of ten (91 per cent) of people of those who had experienced debt trouble said that it resulted in a worsened state of mental wellbeing.

Author: Phil

An estimated one million people in the UK have ‘problem’ unsecured debts according to a report entitled UK Debt Problems – consumer crisis or efficient market? Published by debt management solutions firm, TDX Group, the findings showed that these arrears totalled up to £25 billion, which equates to an average of £25,000 for each of these identified borrowers.

The report also suggested that the number of people facing financial uncertainty looks set to double during 2008 as firms tighten their lending ability resulting in a reduction in options for borrowers to re-finance their expenditures.