Myth busting: Common misunderstandings about debt

Debt can feel complicated enough without myths, assumptions or misinformation getting in the way. These myths can increase stress, cause confusion and even stop people from getting the help they need.This guide breaks down some of the most common debt…

Debt Relief Order (DRO) – Changes to Qualifying Criteria

New changes to DRO criteria from June 2021From June  2021, new changes were made to the qualifying criteria for Debt Relief Orders (DROs). They included:Raising the maximum debt level for DROs from £20,000 to £30,000Raising the maximum asset levels from £1,000…

Can You Get a Mortgage With an Outstanding Debt?

In a word, yes. Regardless of the myth that arrears of any kind will ruin your chances, you may still be able to get a mortgage whilst having an outstanding debt.When applying for a mortgage, you’ll need to come across…

Can you Get Legal Aid for a Divorce?

What is legal aid?Legal aid is money used to help support the costs required for legal advice and representation in court. This includes tribunals and family mediation. Whether you are eligible for legal aid is dependent on your individual case…

Do you Pay Tax on Redundancy Pay?

Redundancy can be a difficult time, especially if you loved your job and it was bringing in a suitable income for your lifestyle. Find out how redundancy can affect you when it comes to tax and other factors. What is redundancy…

How to Save Money This Christmas & Avoid the Debt Hangover in 2020

Christmas is a time when spending can easily get out of control. Even if you haven’t been extravagant, it takes a lot of planning and budgeting to avoid the January Christmas debt hangover. In January last year, around 7.9 million people…

How often does your credit score change?

Your credit score is very important; it’s essentially the first thing that any potential lenders are going to look at when deciding whether or not you’re a reliable person to lend money to. If you’ve got a good score, you’ll…

What’s the Difference Between APR and AER?

It’s easy to feel overwhelmed by the amount of technical terms in the money world, ‘APR’ and ‘AER’ for example. The two get tossed around a lot together, so it’s important to know which is which. What is APR? APR…

What is representative APR?

Whenever you apply for a loan or finance, you’ll come across the term APR, which stands for Annual Percentage Rate. If you borrow any money, the APR is simply the amount of interest that’ll be added to the total amount…

Can An IVA Take My Pension?

Important Update (June 2025):This blog was originally published in 2019. Since then, there have been important updates to IVA (Individual Voluntary Arrangement) protocols and guidance. While much of the information below may still be useful, some details may now be…

Can a Debt Management Plan Take My Pension?

What is a DMP? A Debt Management Plan (DMP for short), is a way for you to pay back your unsecured debt in manageable instalments. DMPs are one of the most common debt solutions in the UK, and are authorised…

Will An IVA Affect My Citizenship?

Why would an IVA affect my citizenship?When applying for British citizenship, why would an IVA affect my citizenship? Well, upon applying, the government will assess whether or not you have ‘good character’.This is their measure of deciding if or not…

What is a CCJ?

A County Court Judgement (CCJ) is a court order that can be awarded against you if you live in England, Wales or Northern Ireland. The purpose of a CCJ is to get you to repay money that you owe. Will…

How successful are IVAs?

Important Update (June 2025):This blog was originally published in 2019. Since then, there have been important updates to IVA (Individual Voluntary Arrangement) protocols and guidance. While much of the information below may still be useful, some details may now be…

How are IVA payments worked out?

An IVA is usually a 5 to 6-year debt solution designed to help you write off the majority of your unsecured debts through regular monthly repayments.You will work with a debt advice provider (such as PayPlan) to go over your…

Is it Legal for Debt Collectors to Call Family Members?

Creditors will use an array of different tactics to try and recover money if you owe a debt to them. Repeated phone calls, automated emails, endless letters reminding you of the consequences of not paying…the list goes on. If these…

Does a DMP Affect Your Mortgage?

A Debt Management Plan (DMP) is a debt solution that doesn’t include secured debts, which are debts secured against property that you own. This includes things like cars (auto loans) and property, meaning that if you’ve got a mortgage your…