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Guide to Current Accounts

There are many different Current Accounts and ways of accessing them e.g. by post, by branch, by telephone or online.

The following are some examples of accounts currently available on the high street:

Standard Accounts 

Standard accounts make day to day banking easy and give you access to free online and telephone banking. The provision of an overdraft facility is often an available option. 

Added Value Accounts

Added value accounts are standard current accounts packed with additional services such as worldwide travel cover, mobile phone insurance and extended warranties. These accounts will generally incur a monthly fee.                                                               

Student Account

Student accounts are current accounts that also offer Interest-free overdrafts. Some banks will offer services such as discounted rates on insuring your possessions such as mobile phones.

Graduate Account 

Graduate accounts offer Loan and overdraft options to set you up for life after study. Graduates can continue enjoying the student account benefits they have been used to and add more to make managing their money a little easier during your first three years after graduation.

Banking for young people
Youth accounts are for people aged 11-18. They offer services such as discounts for the cinema, rail travel and mobile phones. These accounts generally offer tips and advice on how to manage your money.


 

 

 

 

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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