Welcome to Wallet Doctor: the UK's dedicated banking, debt and financial community. Use this site to help give first aid to your finances!

Diagnosing Debt

diagnosing-debt.jpgMany people are reluctant to admit they have a debt problem to themselves, their families, work colleagues or their closest friends..... More

 

Have you been mis-sold PPI?

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Have you taken out a loan, credit card or mortgage? If so you may have been mis-sold Payment Protection Insurance (PPI) and you may be entitled to claim £000's in compensation. Click here to find out more

Getting out of Debt

Top 10 tips on getting out of debt! 

1. Multiple debts should be prioritised. If you are falling behind with your mortgage, rent, utility bills or anything else that may result in you losing the roof......... More.. 

The Psychology of Debt

Being in debt is an emotional issue for many but especially for the young. This can lead to a term known as "financial phobia".  These people procrastinate and when they do think about their finances it makes them feel guilty and anxious  More....
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Worse times ahead for credit card users

You pay your credit card balance off each month, keep within your credit limit and make your monthly payments on time. An exemplary customer like you won't suddenly have your credit limit slashed right?

Wrong! In fact your credit limit may be reduced at any time with little or no notice for any number of reasons and this is happening more and more often as credit card companies seek to reduce their exposure.

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Debt Management Plans

A Debt Management Plan is an informal process of negotiating with your creditors to:

  • Freeze interest
  • Negotiate payment terms
  • Provide peace of mind that you are taking action against your debts

 

Bankruptcy

Bankruptcy was traditionally seen as the ultimate financial humiliation for people with debt problems. but more recently people declare themselves bankrupt for much smaller sums of money. In fact, since 1997 when labour came into power there has been a 100% increase in bankruptcy. Bankruptcy

 

IVA's

The offical debt repayment plan. Reduce your debt by upto 70% , freeze the interest and get legal protection from the companies you owe. IVA's

Trust Deeds

Trust Deeds are dealt with more privately unlike a bankruptcy which is formally published. All interest and charges will stop and after 3 years you are debt free!  Trust Deeds