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....
Water bills based on house size

Thames Water is introducing a new charging system which will see customers charged according to the size of their homes. The company says the new scheme will reflect more accurately the amount of water used and for many customers will result in lower bills.

Households will be placed in one of three bands. One or two bedroom properties will enjoy a drop in their bills of around £30 - £40 a year while homes with three or more bedrooms will be paying about £20 per year extra.

Thames Water says the changes have been introduced following a survey of its customers last year.

 
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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