What Happens To Your Debt In The Event Of Death ?

Its difficult enough keeping your finances in order throughout various stages in your life, particularly if your in financial difficulty and struggling to keep up with the re-payments on your debts.

Dealing With Your Creditors

The Debt Advice Team have extensive experience in negotiating lower, affordable monthly payment agreements for many people across Ireland. We find that many of the people who contact us avoid contact with their creditors when they are in arrears with their payments as they feel unsure on how to deal with their creditors, or are unaware that they may be able to negotiate smaller payments.

The Debt Advice Team have put some helpful tips together for people who are unaware on how they should handle their creditors when they are in arrears.

Tips To Reduce Your Expenditure

• Look around for the best deals: Use comparison websites to find the best deals for your utility bills and insurance needs. Being loyal to your provider can cost you money, today’s market is extremely competitive, make sure your getting the best deal and take advantage of introductory offers many providers advertise. 

Why Is Your Credit Rating Important?

When applying for credit, financial companies and banks need to be satisfied with your credit rating status to enure that you are able to repay your credit. These companies will gain your credit rating from Irish Credit Bureau, if they are not satisfied with your credit rating your application will be refused.

Advice On Back To School Costs

September can be an expensive time of year, particularly if you have children in full time education. Start of the new school can turn out to be very costly, especially if you have more than one child, purchasing new school uniforms, stationary and your child pack lunches/hot school dinners can mount up to a sizeable amount of money. So it’s best to be prepared and find out exactly what you could be entitled to from the Irish Government to help with back to school costs.

Debt Problems Can Affect Your Health

Sleepless nights, high blood pressure, stress, anxiety and headaches are just some of the ways debt problems can affect your health.  The Debt Advice Team has spoken to many people who feel a sense of failure when keeping up with keeping up with payments on a loan becomes a struggle. The important thing to remember is that thousands of people are going through similar situations, especially since the economic down turn hit Ireland.

You may feel like you are losing control of your finances, which is having a knock on effect in your family life and relationship with your partner or friends. You may find that you are consuming a higher volume of alcohol of food as your debt problems become worse, which will contribute to weight gain.

When Should You Consider A Debt Management Plan?

Keeping up with payments on your loan or other borrowings can sometimes feel like your running on a treadmill but not actually getting anywhere. When you are in financial difficulty and missing payments this only adds to your stress. With your interest possibly mounting up and any minimum payments you do make may not actually be decreasing the amount owed on your loans or credit cards. You may become resentful because you feel the money you’re paying out is dead money and could have been spent better elsewhere. If you are struggling to make ends meet and what little money you do have is used to buy essentials such as food and electricity on your credit cards? For example, family life can start to become a struggle, arguments may become increasingly regular as you feel no one really understands your situation and the relationship between you and your partner may suffer. Or maybe you’re suffering in silence, not wanting to burden your friends or family; and the hope that one day your debts will be cleared so you can start living again dies a little more each day.

Ireland Is Officially in Recession Now

The Irish Republic's economy has fallen into recession after shrinking for a second quarter in succession. The Central Statistics Office (CSO) said gross domestic product (GDP) had contracted by 0.5% in the three months to the end of June.