Why guarantor loans can land you in debt

Due to the recent collapse of Wonga, payday loans have been all over the news lately. With such bad press, people are beginning to search for other means of quick and easy credit, one of which is the guarantor loan.* A…

Are Payday Loans Becoming a Thing of the Past?

The recent collapse of Wonga has been ugly and well-publicised. The payday lender had a less than favourable reputation, and was seen by many as a business model that preyed on people who were either desperate or didn’t understand what…

Welsh Government set to abolish Council Tax Imprisonment

PayPlan’s reaction to Welsh Government abolishment of council taxAlistair Chisholm, head of advice sector policy and partnerships at PayPlan, wrote an industry report ‘I can’t believe we still do that: council tax report’ in November 2017.  The report, a joint…

PayPlan announced as finalist for Debt Advice Provider of the Year

PayPlan have been shortlisted for Debt Advice Provider of the Year for the Credit Awards 2018, which has been the industry’s flagship event for over 20 years. They have been recognised for their work in creating an end to end…

FCA warns of interest-only mortgages

Around 1 in 5 of all mortgages are interest-only and the industry’s regulator is worried that consumers are at risk of losing their homes. The Financial Conduct Authority (FCA) is urging people to speak to their mortgage providers if they…

Interest rates hikes set to hit struggling homeowners hard

Households on variable rate mortgages with the lowest levels of disposable income are at risk of sinking further into debt if interest rates increase by 0.25 per cent.PayPlan has warned that even this modest rise could have a ‘devastating’ impact…

Nine in 10 homeowners are worried about rise in interest rates

A rise in interest rates could have a catastrophic impact on homeowners who are already living on a tight budget, according to figures from leading free debt advice provider PayPlan.PayPlan has launched its Out of Interest calculator to help clients work…

In the news this week: Bills, borrowing and debts growing

Earlier this week the Financial Conduct Authority (FCA) warned of a pronounced build-up of debt among young people.

What do the bankruptcy changes mean for you?

The application process and fees have changed for bankruptcy. Today we look at what changes have occurred and what they mean for you.

New data reveals Essex has the highest average debt in the UK

PayPlan have revealed new debt figures to show the top 10 counties in the UK with the highest average debt figures and Essex was revealed to have the highest debt level.  According to the data 1212 people from the area used…

SELF-EMPLOYED AT RISK OF ALMOST 40% MORE PERSONAL DEBT

Self-employed people clock up nearly 40 per cent more personal debt than those who are on the payroll, according to PayPlan's latest research.