Beat Debt Guide

Archive for July, 2006

Question: What has cold ice creams and cold drinks got to do with beating debt?

Answer: A lot!

With the heatwave we are experiencing at the moment the last thing many people will be thinking of is seeking debt counselling, debt management, debt consilidation and any other form of help.

However, people may be quite happy buying an ice-cream or cold drink…..

The regular purchase of buying cold drinks can be expensive. Let’s say you buy one a day that’s over £250 a year!!

All these amounts add up. So why don’t you make yourself more prepared – make your own cold drinks, put them in the fridge and take them with you whenever you go out.

Look to see where you can save and take action today! DEBT PROBLEMS CAN BE BEATEN!!

A couple of weeks ago I mentioned that it was 2 years ago that the £1 TRILLION debt barrier was broken for total household debt. Guess what – the £1 trillion barrier has been broken just on MORTAGE DEBT alone now…..

According to figures from the Bank of England, mortgage debt has gone through the £1 trillion level. An extra 9.3bn was borrowed to buy homes in May, increasing outstanding mortgage debt to £1.007 trillion!!

Look at your debts – take ACTION before they get hold of you. The last thing you want to happen is what happened to the people on the Panorama programme on the BBC last night.

The Banking Code Standards Board is to investigate The Royal Bank of Scotland (RBS) after Panorama investigated debt-related suicides.

A whistleblower says that high street bank lending practices put profits before customers at every given opportunity in order to push borrowing. She is a key decision maker with one of the main high street banks.

“In all my years of experience in the banking industry, I would say that consumers should be very, very wary of their banks” the whistleblower told Panorama.

“It is a very very sophisticated, tailored, tested marketing strategy and sales pitch to a public that has very little knowledge of what is going on.” The insider lifts the lid on the world of credit cards, showing the various ways the banks try to get customers to borrow more on their cards and carry debt over from month to month.

At a time when the governor of the Bank of England is warning of the serious social consequences of over-indebtedness, the whistleblower gives a real insight into a culture of lend, lend, lend in
Britain’s banks and helps to explain why Britain has racked up record levels of personal debts.Ultimately make sure you don’t get taken in by the

Make sure you don’t get taken in by the Banks, credit card companies and other Financial Institutions. It is up to you to take action and if you realise now that you’re in a bad situation take the necessary action.