• We specialise in helping people with debt problems get out of debt. We will do our utmost however bad the situation has become.
• It is much better to seek debt help before things get to the point where you are being declared bankrupt or facing other court actions.

If debt advice is sought early enough there are many options available to help you find a way out of debt. Some of them are informal and relatively simple to set up.

More often than not, people in this position benefit hugely from proper debt management strategies. We discuss your present situation with you then design a debt management plan around your personal circumstances.

Can you stop all the creditors letters and phone calls?

We take care of creditor correspondence for our clients and we do manage to get all the phone calls and letters reduced if not stopped because we communicate with creditors so they know what is happening.

This is a huge relief for a lot of people who find debt help and come to us as these calls and letters cause an awful amount of worry and stress but it is just your creditors way of trying to find out when they are getting their money. Once they know, they are normally fine.

What if my debts are too big?

If you are struggling with very large debts then it is even more important that you get debt help as soon as possible because the interest and charges you will be getting charged will be a lot higher too.

The amount you owe is not the primary concern, it’s getting a debt management plan together to repay it all and be able to live your life at the same time.

• If you are in this situation, please call us on 0800 018 6868, we really can make a difference and help get you out of debt!

What if I don’t earn much money?

Unfortunately, people who don’t earn very much are the very people who are most vulnerable. These are the people who tend to take on high interest debts and then struggle to maintain the repayments.

We are very proud of the way in which we help people with particular difficulties in their lives. Often these difficulties are temporary but not always. We have helped and continue to help many people.

There are lots of ways to get out of debt and some are good and work whilst others are not and don’t. If you are late pating bills, fighting with debt and would be interested to find out how we could help you clear your debts, get in touch today.

• Call 0800 018 6868 free from a land line in confidence.

Interest rates in the UK have been held by the Bank of England’s Monetary Policy Committee at an all-time record low of 0.5% since March 2009. 

For many on variable rate or tracker mortgages, this has meant some 21 months of financial heaven, with reduced mortgage payments or the opportunity to pay down some of the capital. 

For many, it has represented a welcome breather from the sky-high mortgage payments, but for those who have not budgeted properly, any rise in UK mortgage rates could prove a nasty financial surprise during 2011.

Without wishing to go into the long (and frankly boring) relationship between the Bank of England base rate, the rate that banks lend to each other (LIBOR), how banks actually fund mortgage lending and mortgage rates themselves, instead this short blog post will focus on what this means for general vulnerable consumers.

• In the pre-credit crunch world, mortgage rates tended to sit between 0.19% and 1.69% above the Bank of England base rate.  So, with base rates sat at 5%, mortgages were commonly available between 5.19% and 6.69%.

Now, despite the government offering significant financial support to the UK’s retail banks and also pumping billions of £ sterling into the economy through a policy of quantitative easing, the difference between the BoE base rate and mortgage rates is significantly higher.

At the time of writing this post, the BoE base rate is still set at 0.5% and according to a very well known animal-friendly comparison website “compare the market” mortgage rates for comparison varied between 2.3% and 5.9% – as much as 5.4% above BoE base rate.

Whilst this is a very crude measure (as mortgage rates are impacted by costs of application, valuation and arrangement) it is clear that the cost of borrowing to the everyday man in the street is higher. 

If there are interest rate rises during 2011, customers on variable or tracker rate mortgages would not need to see rates rise massively, before their mortgage payment is back to pre-credit crunch levels.  Indeed if Bank of England base rates were to return to close to 5%, this could cause considerable problems for many households.

• Is there anything that you can do to prevent this situation from affecting you and your family, to avoid getting into financial difficulties?

Well, a good start would be to review your household incomings and outgoings to understand exactly where money is being spent.  Here at Lewis Alexander, we have in house debt management experts who have considerable experience in working with consumers to help them solve personal debt problems.

• And in our experience, many financial difficulties can be avoided through sound financial planning. 

Having understood your household budget, if you have any surplus available, then rather than spending your entire income, it would be worth investigating savings options or the flexibility of your mortgage.  By building up your savings, or by over-paying a flexible mortgage you may be able to build up a pot that will help you cover the rising cost of your mortgage should interest rates rise significantly in the coming year.

The most important thing to remember is that interest rates will have to go up at some point if inflation continues to rise.  It is also worth remembering that the spare income you may have now is not actually spare, it is an extra disposable gift for a certain time that you should take full advantage of as when interest rates do increase that gift will seem somewhat in the far and distant past!

• Some people are being careful and taking advantage of the reduced rates others are not!

If you are not able to budget for this rise in living costs, and you have other unsecured debts that you are struggling to repay, then don’t worry, help is at hand! One free call to our debt management experts at Lewis Alexander can be the start to a less stressful and healthier financial existence.  We start by understanding your financial situation, before recommending a financial solution that is appropriate to your personal circumstances.

At Lewis Alexander, we are able to help a wide variety of ordinary people who are experiencing financial difficulties so long as they have a regular income and the self discipline to stick to a debt repayment schedule.

• Call us free using 0800 018 6868 to discuss your personal situation with one of our personal debt specialists.  Our lines are open 24 hours a day to take your call in confidence.
• One call could change your financial future, so make that call today!

• Trying to find a Debt Support Service in the UK?
• Unable to get a loan to consolidate your financial problems?
• Struggling to understand how best to help yourself?
• OUR INITIAL ADVICE IS FREE – ONGOING SERVICES ARE CHARGEABLE

When you need debt support, it is very hard to find a company that you can trust.  Most personal debt advice that you obtain from debt support companies will tell you that the best option is either;

• An IVA
• Bankruptcy
• A Debt Management Plan
• or possibly even another loan or form of finance such as a remortgage.

It is not usually an every day occurrance being forced to deal with such options of financial relief, however, it is important that you do not allow any individual or company to push you into any debt consolidation agreement without you being fully aware and educated on how you will benefit and in what way your chosen debt solution could affect you.

Debt support services exist all around the UK, some charge the clients fees directly for the service they provide and some charge the clients creditors for the work they do on the clients behalf.

• These companies trade as charitable organisations and guise themselves as free debt support services.

 A good debt support service will have the clients best interest at heart and by managing the financial problems in a structured manner, the client usually feels relief from the pressure within days of joining the support service.

When a not so reputable debt support company starts to manage a clients finances, the client does not actually get to find out that the service is less than standard until it is too late and the debts are usually in a further mess than they were previously.

Be warned that anyone in personal debt is classed by the Office of Fair Trading as a vulnerable consumer, this means you are at risk of other people or traders / companies taking advantage of your current financial circumstances. People will lie to you even when it is to do with something so serious as personal debt support.

Most people that call our free from a landline personal debt helpline for debt support, struggle to find a way that enables them to pay bills when they can afford to pay them and the amount that they can afford to pay.

If you set a budget each month that you stick to, this can be the first step to financial freedom, you may not have all the things that you wanted that month but you will certainly not have a credit card bill for items that you most problaby never needed. Not all personal debt is built up from what we call “retail therapy” but you would be surprised at how much is.

When you have decided that you need to obtain confidential support regarding your financial situation, please call our helpline without delay, often the sooner you sort and solve a debt problem, the easier it actually is to manage.

Call Lewis Alexander free using 0800 018 6868, lines are open 24 hours / 7 days a week and your call is free!