A survey conducted by market research group GFK NOP has shown a rise for the second month in a row in UK consumer spending. This is a trend which bucks the current economic climate of job losses, a prolonged period in the rising cost of living and the beginnings of recession.

The BBC states that this may suggest success in Government and Bank of England fiscal policy, following VAT rate reductions from 17.5% to 15% and successive interest rate cuts to a low of 2% - but the broadcaster is hesitant to report a ‘real’ improvement.

Rachael Joy from GFK NOP confirmed this hesitancy by saying:

“The Consumer Confidence Index has improved again this month after the interest rate cut and the drop in petrol prices, but continues to hover at near record lows.”

“The crucial question is whether the improvement in this index will be translated into activity on the High Street during the January sales.”

Overall Record Low in UK Consumer Spending

It is the record lows in UK consumer spending that are perhaps most worrying when gauging the strength of the economy, suggesting that despite recent increases, many consumers are simply choosing not to spend with the same confidence. We may of course be seeing a seasonal glitch.

High Street Retailers Rally For Cash

The abundance of High Street sales before Christmas could be the best indicator of a failing economy. As companies desperately attempt to generate enough income to survive the traditionally quieter times in the first quarter of 2009, the question on most commentators lips seems to be when will the collapse of yet another well known High Street store occur, not if.

The ’surprise increase in retail sales’ therefore, as the BBC describes the official figures released yesterday, may not, unfortunately, tell the real story.

Debt Denial - Britons are short by £693 on monthly household budgets before they seek debt help

Britons are still waiting far too long to get help with their debts, according to new research from free debt solutions provider Payplan. Research on over 100,000 customers has revealed that they are short by a monthly average of £693 on their household expenditure when they seek assistance for their debts.

This figure varies by age, with middle aged debtors suffering under the largest difference between income and outgoings (an income of £1,864 vs. expenditure of £2,452). At the other end of the scale, 20-30 year olds seeking help for their debt problems come to Payplan with a deficit of almost £400 a month on their outgoings.

Key Payplan Debt Facts

• Britons wait until they owe more than 50% of their income to creditors before seeking help.
• The average unsecured monthly debt repayment is £901.40.
• Indebted Britons wait until their deficit stands at £693 before seeking help. This deficit is growing; last year it was £671.
• The largest deficits, and the largest growing deficits, are those of 40-50 and 50-60 year olds. The average deficit for this age is £837, with a deficit growth of £67.
• In 2008, homeowners spent 52.15% on their unsecured debt repayments, compared with renters, who spent 49.48%.
• The over-sixties have the largest excess debt as a percentage of their income. With the gap between their income and expenditure standing at £724, to cover their debts they would need a 55% increase in their income – although many are approaching retirement and a reduced income.

30-40 Year Olds Bucking Trend

The one group bucking the trend and coming to Payplan earlier, with smaller deficits, are 30-40 year olds. Although their deficit is still high, at £659.22, it has reduced by £60.00 a month in the past year, sparking suggestions that this particular group are choosing to get help sooner rather than later.

John Fairhurst, Managing Director of Payplan, commented on this research:

“We strongly urge people to get advice on their options as soon as they feel they have a problem. You might be scared to tell your creditors that you are having difficulties, but you shouldn’t be afraid to tell an independent and confidential debt advice agency.

“Our research shows that British debtors are waiting far too long before seeking professional help. Prior to the credit crunch, if Britons couldn’t afford their repayments they would often borrow further to pay them off, which clearly just made their situation even worse.

“Now what we are seeing is an increase in calls as people realise that they simply cannot borrow more money. Our statistics show that the problem increases dramatically with age. The earlier customers come to us for help with their finances, the better for them.”

For free debt advice and free debt solutions contact Payplan on 0800 917 7823 or through the online debt calculator.

Payplan, the free debt solutions provider, today announces plans to launch a specialist arrears management scheme for mortgage lenders. This new service, completely free to those in debt, will focus specialist support for customers who are struggling to honour their mortgage payments due to unsecured debts.

2009 Will Prove Worst Ever For Missed Mortgage Payments

Payplan’s service will help lenders counter 2009’s greatest threat; rising arrears. Around 3 million fixed-rate and discounted mortgage deals end in 2008 and 2009, and borrowers will move into higher mortgage payments. Due to the recession and other debt commitments, borrowers are not financially prepared for this rise, leading to increased mortgage arrears.

Helping Prevent Reoccurring Mortgage Arrears

In addition, mortgage lenders have been suffering as customers prioritise unsecured debt repayments. Payplan’s clients in mortgage arrears also owe on average £42,500 in unsecured debt, and often haven’t told their mortgage lender this. Payplan’s new service enables lenders to see the ‘whole picture’ of a customer’s indebtedness, and then works out the best course of action to reduce the chance of arrears reoccurring.

Phil Bushell, Arrears Manager at Payplan, commented on the development of the service:

“Against this back drop of rising arrears, the benefits of the scheme for lenders are clear: improve your clients’ finances, clear their arrears and enable them to make regular mortgage payments once again.

“Without an intermediary service like Payplan’s to manage the entirety of a customer’s debt, traditional solutions such as payment breaks and capitalisation of arrears only serve to delay an inevitable decline into further arrears.”

Are You Struggling With Mortgage Arrears?

Payplan provides free, ethical and immediate debt help to over 100,000 people every year, including advice for people with mortgage arrears, working closely with organisations in the field of money advice and consumer and employee welfare.

Call Payplan free on 0800 917 7823 to speak with an experienced debt adviser or alternatively, contact Payplan online.

John Fairhurst, Managing Director of Payplan, the free debt solutions provider, gives reaction to the Government’s Repossession Guidelines.

Payplan Welcomes Repossession Guidelines

“We welcome today’s implementation of the Government’s guidelines to help those facing repossession, which is a growing and very real problem in Britain today.

Rise In Charging Orders & Orders of Sale

“Payplan regularly sees people making the mistake of prioritising credit card debt repayments above more important debts, such as their mortgage. They have a mistaken belief that repossession simply won’t happen in their case, and that their home will remain safe. Recent rises of 48% in the number of repossessions in the first half of this year show how urgent this problem has now become. Alongside this, increasing numbers of unsecured lenders are now also applying for ‘Charging Orders’ which allow them to seek ‘Orders for Sale’ if repayment arrangements are not maintained.

£42,000 Average Unsecured Debt

“Those coming to Payplan for help with mortgage arrears owe on average £42,000 to unsecured creditors in addition to their mortgage debt. Often mortgage lenders are unaware of this additional debt, without understanding the full problem they are unable to offer a sustainable solution. Hopefully, these new guidelines will improve communication between borrowers and lenders, and allow for better understanding from both sides.

Christmas Debt Stress

“In our experience many people worry that their home will be at greater risk if they admit the full extent of their problems. This is simply not the case, we find that it is almost always possible to both save the home and reduce debt repayments to an affordable rate. We urge over-indebted Britons to get help now rather than face a Christmas of stress and worry about debt.”

Mortgage Arrears Help and Repossession Advice

Consumers having difficulty paying their mortgage should call the Payplan Mortgage Arrears Hotline on 0800 917 7819 or they can submit their mortgage arrears details online.

John Fairhurst, Managing Director of Payplan, the free debt solutions service, comments on this Friday’s quarterly Insolvency Service statistics:

Payplan clients are ‘£650 short’ of their financial commitments

“Today’s figures from the Insolvency Service only show part of the problem. What we are seeing is a dramatic short fall between what people should pay towards their debts and what they can afford to pay. On average, Payplan customers are £650 short every month in meeting their financial commitments. Although these people are not bankrupt they are technically insolvent when they call for help and have been for some time. People are waiting far too long to address their debt problems and advice agencies are still only seeing the tip of an iceberg.

Credit used to fund ‘food and fuel bills’

“The high levels of unsecured debt that we see are not necessarily accrued through lavish lifestyles. Many people are regularly overspending on day to day living costs, building up debt through putting their food and fuel bills onto credit cards. The recent lack of available credit has left these people facing a personal financial crisis, which Payplan believes will create a large increase in people seeking debt help next quarter, and a significant jump in those facing bankruptcy over the next year.

Confronting debt in 2009

“The average person coming to Payplan for help owes over £30,000 in unsecured loans. The earlier that financial help is sought, the more likely it will be that the more serious consequences of debt can be avoided. We expect debt issues to come to the fore next year, as more indebted Britons living on credit are confronted with their financial problems.”

Debt help from Payplan

Freephone 0800 917 7823 six days a week to speak with an experienced debt adviser. Lines are open 8am to 9pm Monday to Friday and 9am to 3pm on Saturdays. Or submit your details online using Payplan’s Debt Calculator.

According to a survey commissioned by the BBC, there is evidence that food price rises are slowing, which may come as some relief to consumers, who, for most of 2008, have experienced above inflationary rises in food prices.

Further news that the price of oil has fallen dramatically in the last week will also be met with relief as some petrol retailers cut prices on their forecourts to below £1 per litre.

Unemployment Fears

The news is bittersweet however, when one considers that those people who’ve been left struggling to cope with the monetary pressures of their household budgets now have to face a widely predicted and imminent global recession. One major concern for any economy during a recession is the inevitable increase in unemployment figures.

Any reduction in the cost of living will be helpful for many people, but without regular employment, there can seemingly be no way forward for those who can’t pay their household living costs and debts.

Payplan Offers Free Debt Advice

Payplan offers free debt advice to anybody who has a debt problem and needs help organising their household budget, and finding free debt advice easily at a time when it’s most needed can be essential to preventing further and more serious financial problems. Payplan’s experience could prove invaluable.

To find the most suitable budgeting and debt advice for your personal financial circumstances, call 0800 917 7823 or contact Payplan online.

New research from Payplan, the UK’s leading provider of free debt solutions, reveals the growing problems that indebted ‘pre-retirees’ (aged 50-60) face as their average unsecured debts soar to £41,400. This is 25% higher than the average unsecured debts of other age groups (£32,700) and paints a gloomy picture for many older consumers as they approach retirement. This research has been carried out with over 40,000 Payplan consumers.

‘Significantly More Debt’

Not only are ‘pre-retirees’ in significantly more debt than other age groups but it also takes them longer to pay back this debt: their average repayment term in a debt management plan is 11 years, compared with 9 years for other groups. This gap has increased by 27%, suggesting that debt for ‘pre-retirees’ is a growing problem and potentially one that will increase as the recent economic turmoil forces up the prices of groceries, utilities and unsecured borrowing.

Other Key Research Findings

• 14% of Payplan customers that registered between July 2007 and June 2008 were aged 50-60.
• ‘Pre-retirees’ spend 15% of their total expenditure on utility costs, compared with 13% across all other age groups.
• The average surplus income* of an indebted 50-60 year old is £307.38, compared with £290.21 across all ages.

Pre-Retirement Debt…Hugely Concerning

Such high levels of ‘pre-retirement’ debt are hugely concerning. Not only are the salaries for this group likely to fall rather than increase over the repayment term but at this age any ’surplus’ income should be saved to cover their retirement - which could last over thirty years.

Managing Director of Payplan, John Fairhurst, comments:

“Most people imagine that as they reach the countdown to finishing work, they will have paid off their mortgage and be busily saving for a comfortable retirement. These figures show that this is simply not the case for many ‘pre-retirees’ and highlights a hugely concerning trend towards indebtedness in later life.

“Indeed, with this group taking an average of eleven years to clear their debts on their existing income, many of our clients will have no option but to delay retirement until they clear outstanding balances and have had the chance to build some type of nest egg.

“Although many people in their fifties are used to maintaining high levels of personal debt they are often just ‘treading water’ with repayments and covering little more than interest charges. If they are to enjoy a reasonable standard of living in later life then it is vital that they have a clear plan in place for becoming debt free whilst they are still working.”

*Surplus: The amount of money left over at the end of the month once all priority debts, such as mortgage/rent and utility bills, have been paid.

About Payplan

Free, confidential advice is available from Payplan (either online or by calling 0800 917 7823), or your local Citizens Advice Bureau, who can help work out a debt repayment plan, as well as exploring what other options are available.

Notes to Editors

Payplan Case Studies

All our case studies are available for interview. For further information please contact Payplan’s Press Office:

Jayne Newton - Payplan
Email: jayne.newton@payplan.com
Tel: 01476 541980, 07812 736861

• Payplan is helping a 50-year-old postal worker who has £58,954 of unsecured debt. He took loans to fund his daughter’s wedding and spent a lot of money treating his grand-children. He has a mortgage on his house, as well as a secured loan. He is in a debt management plan and is paying £181.32 per month.
• Payplan is helping a 55-year-old divorcee in £52,277 of debt. She is a full-time, live-in carer and has a mortgaged property which she rents out. Her debts were caused by her business failing. She used credit cards and loans to buy stock and machines. She is in a debt management plan and is paying £319.95 per month.
• Payplan is helping a 58-year-old man who is retired and lives with his wife in a rented house. The couple have £26,000 of unsecured debt. He was involved in a near-fatal lorry accident which left him with health problems that meant he had to give up work. He is in a debt management plan and pays £126.51 per month.

Related Payplan Debt News

Older People In Debt

Whilst the world’s leading economies debate how they can help shore up some of its biggest and influential financial institutions, according to a recent poll by Cahoot, the Credit Crunch and resulting economic unrest is more likely to encourage couples to stay together to weather the storm.

The poll taken by the Cahoot online bank (a division of Abbey National plc) suggests that 30% of men and 25% of women were ‘less likely’ to separate due to the Credit Crunch, on the understanding that living together allows for economies of scale and generally costs less.

However, this may not be the reality.

Recently released UK divorce figures (for 2007) from the Office for National Statistics (ONS) may well show the lowest recorded levels of divorce in 26 years, but with the effects of the Credit Crunch expected to last for at least another two years by many financial commentators, these figures may not reveal the true extent, for married couples at least, of how the Credit Crunch is affecting people’s relationships.

The Reality of Debt and Relationships

Matthew Timms, Cahoot’s Managing Director, commented on the poll by saying “there are clearly economic benefits to being in a relationship, such as shared bills, lower rent and even reduced car insurance premiums.”

Whilst this is undoubtedly true, as is the fact singles may pay more for their living costs, what the poll doesn’t appear to establish is whether or not those taking part in the survey already had relationship problems - it’s highly unlikely that the whole truth behind the Credit Crunch and its effect on the complex issues of debt and relationships has revealed itself just yet.

Where to Get Help with Debt and Relationship Problems

Many debt problems that Payplan clients face are as a direct result of a marriage or relationship breakdown, but many people in debt come to Payplan who have relationship problems due to their debts and overall financial health - this is very often the root cause of a relationship breakdown.

There are several organisations that can offer help and support for relationships that breakdown because of debt and other causes. One such organisation is Relate, who offer relationship counselling across the UK:

Relate – Relationship Counselling

Relate Scotland – Relationship Counselling for Scottish Residents

Debt Help from Payplan

If you are in a relationship which is suffering because of the stress of debt, then Payplan can offer free debt solutions and advice. Call Payplan confidentially for free on 0800 917 7823 or alternatively submit your debt problem online.

The last seven days have been some of the most volatile, unpredictable and potentially damaging to the world’s economy for several decades.

In the UK alone, the financial problems of its largest mortgage lender HBOS has prompted a massive takeover deal worth £12.2 billion by Lloyds TSB.

UK Mortgage lending has itself recorded a 36% drop compared with August last year, according to the Council of Mortgage Lenders (CML). And worldwide, the collapse of Lehman Brothers, and the problems facing large investment and insurance companies like Merrill Lynch and AIG have led to fears of financial meltdown across the world’s strongest economies. Many financial commentators are now more nervous than ever about what this means for consumers.

Many UK Families Struggling Financially for Several Years

However, it’s easy to forget that many families in the UK were already financially overstretched, well before the Credit Crunch and recent hikes in food, petrol, gas and electricity prices hit home. Consumer debts such as credit cards had already reached record levels, and many individuals, families and businesses had found themselves with serious debt problems resulting from years of overspending and budget mis-management.

Recent problems - such as rising inflation, rising living costs and rising unemployment - can only add to what was already becoming a problem too big to handle for many in the UK.

Justabank Can Save Clients Money

Especially at times like these, Payplan believes it’s really important that its clients are given all the tools possible to help them take control of their debts, whether through a free Debt Management Plan (DMP) or an IVA.

This is why Payplan gives all its clients free access to Justabank, a unique online service that allows clients to make and track payments, monitor payment dates and keep an eye on outstanding debts to each and every creditor giving them the confidence that creditors are being paid and their debts are reducing.

Help and Support with Legal Threats

Not only this, Justabank offers further support, information and advice for common situations that can arise when dealing with debt, such as what to do when receiving letters threatening legal action (eg county court judgments or CCJs).

Justabank Can Help Debtors Reduce Their Expenditure

Importantly, during this period of economic uncertainty, Justabank also gives clients access to numerous special offers and advice on complimentary products that could save them money on their essential expenditure – these include things such as ensuring that their home and car insurances remain competitive, utility bills such as the phone, gas or electricity are not costing them more than they should and that they can access their money by using the correct kind of bank account for their situation.

It’s really important to Payplan that their clients’ debt solutions succeed, so by helping them save money on their monthly budget in this way, Payplan believe that Justabank can help ease the pressure that dealing with debt can bring.

Through Justabank, clients also have direct contact with their case officers online, allowing them to help and support clients quickly, whilst reassuring them at the times when it’s needed most.

Reassurance, Help & Support - Justabank is free for Payplan clients

Reassurance, help and support – this is what Justabank is for, and what’s more, it’s completely free. If you’d like further information about Justabank, then you can visit Payplan’s website or simply contact a Payplan debt adviser for further details.

Indebted homeowners are the hardest hit by rising inflationary costs, reveal Payplan, the UK’s leading provider of free debt solutions. With annual inflation hitting 4.4% in August and expected to rise further with tomorrow’s September announcement, their surplus income has reduced to only £270 a month*.

Using Credit To Pay Mortgage Or Bills

Today the average homeowner calling Payplan for help owes over £40,000 in unsecured debt, compared to the average £27,000 owed by renters. Despite an average household income of £2,200 per month, indebted homeowners are left with an average of only £270 of disposable income a month with which to repay their debts. This is often far below the amount needed to service monthly debt repayments, and before seeking help they will have missed repayments - often to their mortgage lender - or been living on credit. A survey of new callers to Payplan last month showed that 50% had recently used a credit card to pay their mortgage or a utility debt.

Small Debts Now Unmanageable

The consequence of having only £270 a month in disposable income means that any inflationary price increases has a catastrophic effect on budgets. Many lines of previously available unsecured credit have been withdrawn in the credit crunch and small debts that were previously dealt with by juggling credit are now becoming unmanageable much faster.

Income Squeezed By Inflation

John Fairhurst, Managing Director of Payplan, commented:

“Homeowners increasingly have to face up to the reality that after living expenses, there isn’t enough money in the kitty to pay off their debts. As lenders become more cautious about providing consumers with credit cards or personal loans, we have found the average levels of unsecured debt dropping. This is not, unfortunately, due to people managing their money better, but simply that even small debts are now proving unmanageable. Rises in inflation mean that surplus incomes are squeezed even tighter, leaving people on the edge tipping over at a faster rate.”

*The surplus income for a household is determined when essentials such as housing, food, medical and transport costs have been deducted.

Payplan Press Office

For further information please contact Jayne Newton at Payplan:

jayne.newton@payplan.com
01476 541980

NOTES TO EDITORS
All figures are internal Payplan numbers.

About Payplan - Payplan provides free, ethical and immediate debt help to over 100,000 people every year, working closely with organisations in the field of money advice and consumer and employee welfare.

Freephone 0800 917 7823 six days a week to speak with an experienced debt adviser. Lines are open 8am to 9pm Monday to Friday and 9am to 3pm on Saturdays. Or submit your debt enquiry online.

Government help for fuel bills has been demanded by consumer groups and charities following yet further announcements from two more leading energy providers explaining the increase in fuel prices for their customers. This almost ends a record round of fuel price increases - with another round due in the New Year.

Long Term Fuel Poverty Plan Needed Say Charities

Scottish Power and Npower have joined British Gas, EON, Scottish and Southern Energy and EDF by rising their prices substantially, and now charities campaigning against fuel poverty (those who spend more than 10% of their income on fuel) are worried that without a long term plan, the problem of fuel poverty will reach unmanageable proportions as the provision of help for fuel bills is ignored.

According to charity National Energy Action, 1 in 5 households will fall into the 10% of fuel poor, and together with Child Poverty Action and Age Concern, the charities are demanding immediate action from the UK Government.

UK Government ‘Looking at Extra Support’

John Hutton, the Government’s Business Secretary said this week in an interview for the Daily Telegraph that:

“The era of cheap energy is over. The question is how are we going to adjust to that and what sort of help can we provide to those who are going to struggle the most. There is genuine concern about the difficulties that people will face paying their heating bills over the coming winter and we are looking at extra support.”

This seems to have done little to reassure the charities campaigning for those needing help for fuel bills. In The Guardian today, Paul Dornan from Child Poverty Action said:

“The poorest families now face an urgent situation … The voluntary approach is failing and Government and the energy companies need a plan of action within weeks.”

What Help for Fuel Bills is Available Right Now?

Finding help for fuel bills is clearly a very important issue, and so here are previous Payplan Debt News articles discussing this issue and offering further advice to those who require fuel debt assistance:

Solid Fuel - Cheaper than Gas/Electricity?

Top 5 Energy Saving tips from Payplan

£225 Million of Help for Fuel Bills

The BBC website also contains useful information to those needing help for fuel bills:

BBC Website - Where to go to for help with fuel bills?

The Office of National Statistics (ONS) has released a report highlighting the increased likelihood of a recession in the UK following figures that show the UK economy is now at a standstill. This fear is backed up by a report last week showing an increase in the number of people claiming unemployment benefits in the second quarter of 2008.

Job-Losses Rise as British Industry Predicts Slowdown

Unemployment figures from the end of June now stand at 1.67 million, with another 20,100 new claimants of job-seeking benefits recorded in July. This makes for uncomfortable reading for the whole country, especially after the UK economy has benefited from continuous economic growth over the last 5 and a quarter years. In fact, the ONS report shows the weakest economic data since 1992 - when the UK was still recovering from the affects of recession in the early 1990s.

Rising Consumer Prices and Repossession Figures

Added to the fear of another recession in the UK is the recent rise in repossession figures outlined in previous Payplan Debt News posts, a slow-down in manufacturing prospects and a slump in UK exports following a survey of over 600 British manufacturers by the Confederation of British Industry (CBI). This will add to the prospect of further job-losses in the next few months. A succession of other financial implications directly affecting consumers, such as rising home energy costs, food shopping bills and petrol prices does little to give relief to the current economic climate, at home or amongst British industry.

Consequences of a Recession in the UK

The consequence of all this bad news suggests that, if it wasn’t already being felt, the next few months will be extremely hard financially for many families across the UK. Not only will many UK householders be struggling with their priority bills (rent/mortgage, council tax, utility bills, food shopping and housekeeping costs), for those with debts to pay, such as credit card bills and personal loans, the amount of available income to pay back unsecured borrowings will decrease - increasing vulnerability to creditor action on defaulted debts seems highly likely.

Payplan Debt Management

Payplan offer free debt management plans for those struggling to meet their monthly payments to creditors. For free debt advice, call 0800 917 7823 or contact Payplan using their debt calculator online.

UK Recession in the Media

BBC - UK economy comes to a standstill
BBC - Jobless total up as economy slows

The most recent round of figures highlighting the seemingly downwards spiral of problems with the UK’s economy (including a rise in inflation up to 4.4% and a rise in house repossession orders up 28%) confirms what many of us already know – that the cost of living is becoming increasingly expensive.

What’s the chance then that many of us won’t be able to afford a holiday away this year or next and are expecting to take a holiday at home? – It’s probably quite high.

Holiday at home is a financial necessity

Presumably, this was the inspiration behind a recent BBC Radio 4 debate on Woman’s Hour which focussed on the ‘Staycation’; another name for a holiday at home. It may sound patronising, or like hell-on-earth (as one contributor to the debate clearly felt following an article in the Daily Mail) – but it’s true that for many, staying at home during the holiday season is not an option, it’s a financial necessity.

Therefore, it might be sensible to suggest that the idea of a Staycation or a holiday at home is viewed more as an exercise in altering expectations, rather than a patronising attempt to pacify those who simply can’t afford a holiday away from home.

Making the most of a Holiday at home

In a way, a Staycation or a holiday at home means ‘making do’ with what’s available locally – but ‘making do’ doesn’t necessarily mean mediocre. Certainly, the sense of ‘breaking-away’ from the usual routine is one of the biggest attractions of a holiday abroad, or to a different part of the UK, but it doesn’t mean that one can’t relax, explore or indeed find new things to do, either as a single person or as a family in one’s local area.

Visit your local tourist attractions

Many of us are unaware of the full range of things available to us locally, and very often for free; sports facilities, places of interest or community events that are held locally often escape our attention because we have more than enough to contend with in the home and at work than to explore our local areas - and let’s face it, we spend more and more time using modern technology for our entertainment and relaxation than we’ve ever done before; the use of DVDs, home entertainment systems, computer games consoles and, if you’re reading this, the Internet confirm this.

However, if you are reading this, then you’ll have access to a powerful tool that will give you access to much of the information you need to enhance anytime spent at home during the holiday season. Here is a selection of tourist information websites that will prove invaluable in your quest for a successful holiday at home:

Enjoy England
Visit Scotland
Visit Wales
Visit Britain
Visit London

Holiday in someone else’s home

If these don’t provide you with inspiration and are a home-owner, you could always try a home exchange. There are several websites that provide information on this increasingly popular method of holiday, where you simply swap homes with somebody else who’s willing to do the same. However, some carry a small fee, and they are not suitable for everybody. If you think this is up-your-street, then try services such as the Guardian Home Exchange

Contact Payplan
Get financial assistance from Payplan, the free debt advice organisation on 0800 917 7823 or online.

The Council of Mortgage Lenders (CML) issued figures today stating a 48% rise in home repossessions in the first 6 months of 2008.

Payplan’s Managing Director, John Fairhurst, speaking today on BBC Radio 5 Live about the repossession announcement, said:

“I think the most important thing that people can do is to get advice as early as possible. In about 80% of mortgage repossession cases it’s possible to avoid repossession simply by getting the right advice at the right time.”

He added:

“It’s rarely too late to get advice.”

Payplan repossession advice - contact details

You can get repossession advice from Payplan’s Special Repossession Advice Team on 0800 917 7819 or by submitting your details using the online Debt Calculator.

The Royal Bank of Scotland is the latest bank to record substantial profit losses, and questions are being asked about what the future now holds for the economy, lending and people’s personal finances.

On this morning’s BBC Today programme, Terry Smith of bonds broker Tullit Prebon, forecast that people’s personal finances could get much worse, and that a future rise in UK individuals with debt problems was a ‘time bomb’ waiting to explode.

Hanging on to debt - increased living costs

Recent personal insolvency and bankruptcy figures did not rise, suggesting that somehow, people are managing to cope with the increased demands on their income, including rising household food and energy bills and increased petrol costs. However, as Terry Smith also pointed out:

“When things go wrong for borrowers, they don’t immediately rush in and inform their bank. Basically, they tend to hang on by their fingernails for as long as they can.”

Last minute debt problems

This is a fact that debt advice organisations such as Payplan experience first-hand. Amanda Ryans, Payplan’s Debt Helpline manager, also recognises this fact. She said:

“Many clients call us with serious debt problems, and many of these could increase their options by calling us when things are beginning to go wrong.

The problem is that sometimes a debt situation’s been building up gradually for several years until something gives way. Unfortunately for our clients, it’s often a significant event that triggers their first call to us - a relationship breakdown or loss of a job for example, and we have to help them pick up the pieces.”

Get debt help sooner than later

It’s clear from Payplan’s experience that someone who’s struggling with debt should get help as soon as the problem is realised, although, this is often much easier said than done, especially when so much can be at stake. The fear of losing a family home for example, can prevent those needing debt help urgently from seeking advice sooner. However, debt advisers are trained to be empathetic and should be the first port of call for anyone who thinks that their debts could be a problem.

Payplan contact details

Freephone 0800 917 7823
Online Debt Calculator