A traditional debt counselling centre is a commercial or charitable group that offers advice and a debt management plan as a primary tool to get out of debt. They may also suggest a token payment approach to tread water.
Today it could be argued that this approach can do more harm than good and that there […]
A debit card is a payment card that physically resemble credit cards, and, like a credit card, is used as an alternative to cash when making purchases.
However, when purchases are made with a debit card, the funds are withdrawn directly from the purchaser’s current or savings or savings account at a bank, building society […]
A creditor is a party (e.g. person, organisation, company, or government) that claims that a second party owes the first party some money or assets or services.
The first party, in general, has provided some money, property or service to the second party under the assumption (usually enforced by contract) that the second party will […]
A Creditors Petition for a persons bankruptcy can occur when the debtor owes a creditor (individually or jointly) £750 or more.
The creditor will present a bankruptcy petition at court and an Official Receiver will be appointed to act as Trustee of the Bankrupt Estate.
The Official Receiver will decide whether to call a creditors’ meeting […]
Credit is nothing more than the arrangement or agreement for deferred payment of a loan or purchase. It is a contractual agreement in which a borrower receives something of value now, with the agreement to repay the lender at some date in the future. Also, the borrowing capacity of an individual or company.
Credit can […]
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