Direct Debt Recovery

Sure, it’s really great that Bank of America canceled plans to start charging a monthly fee for paying with your debit card. Consumer pushback worked—what a victory!—proving that you are your own best advocate. Now, more than ever, it’s time to watch your bank like a hawk. For tips on how to avoid fees, plus how to decide if it’s time to switch banks, read my blog post on RedbookMag.com.

Has your bank increased fees? Are you considering switching banks? Leave a comment on RedbookMag.com and I’ll respond there.



Consumers keen to consolidate their debts may find they are better able to do so because of an ongoing fall in the cost of living.

One contributory factor is the cost of manufactured goods in the UK and the latest Producer Price Index released by the Office for National Statistics has revealed that this increased by 4.1 per cent in the year to January 2012, 0.7 per cent down on December.

It was the lowest figure since November 2010 – when it was also 4.1 per cent – and may add to the evidence that inflationary pressures in the economy are receding fast.

Such a situation could help consumers find more cash to pay off their debt sooner and such consolidation could save large amounts in the longer run.

The fact that the January VAT hike will have dropped out of the equation from last month will also help.

According to the latest official figures, the Consumer Prices Index rate of inflation was 4.2 per cent in December, one per cent less than its recent peak level in September.

Looking fоr ways tо pay оff student loans? After уоu complete college, уоu main focus іs gaining adequate employment іn уour chosen field. But fоr fаr tоо many, the stress of paying оff college debt is exhausting. Entry and mid-level positions often times simply do nоt pay enough tо quickly pay dоwn student loans; еsреciаlly when you factor іn thе cost оf living. Thankfully thеrе are a few solutions tо hеlp yоu pay dоwn your student loans.

One іs thе Income Based Repayment plan (IBR). What haррens is government loan officers will look at уour current income and сome uр with а repayment plan thаt уou can afford. People with graduate degrees often hаvе monthly payments of ovеr $1000. With an IBR, thаt payment саn drop down tо $300. Another upside tо the IBR іѕ if you choose tо w

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If you’re already in debt and contacted by a collection agency, it might be easy to believe the collection agent is pursuing you for a debt you really created. Even if you don’t remember the debt, a collector could have enough information to convince you that it’s real. However, debt collectors have been known to make up debts, so it’s in your best interest to verify that a debt is real before you pay or settle it.

Use Debt Validation to Reveal Fake Debts

The best way to verify that a debt is real is through the debt validation process. You have the right to ask a debt collector to send proof of a debt as long as you make the request within the first 30 days of being contacted.

When a collector contacts you about a debt that you’re not sure you owe, you should not admit to anything. Instead,

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Residents of Essex who have debts may be facing more problems if they have any unpaid library fines.

The county council has employed the services of American debt collection agency Unique Management Services (UMS) to chase up unpaid fines on items that have not been returned on time.

It has taken on the firm on a three-month trial basis, noting that while it brought in £650,000 last year, this figure could have been much higher had all fines been collected.

UMS will focus on chasing up fines of over £20 in value, meaning those in debt who have very overdue items could be in trouble.

The company said it works on the “gentle nudge” system of reminding people to return overdue books and DVDs before it chases them, while those who will be chased will need to have several items overdue, since fines are capped at £4.70 each.

Essex County Council runs 73 public libraries.

One of the most cited grievances to come out of Occupy Wall Street is the crushing burden of student loans. I have had a couple of guest posts on the topic including one from Tim Smith who blogs on the Echo Boom.  Here, now, is a piece by  Alan Collings, who has been devoting himself to the issue.

What Congress can do to Solve the Student Loan Crisis
At long last, the nation is beginning to acknowledge the very large problem that student debt has become.  The national dialogue has been noisy and confused to this point, however, and the few legislative attempts to address the issue, while pleasant sounding, will do little to ease the debt burdens of the vast majority of borrowers, and do nothing to address escalating college prices and the associated debt loads being imposed upon the citizenry. Ultim

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Debt settlement is only half the process when it comes to rebuilding your life after you’ve accumulated and then settled a number of your debts. After you’ve been helped in settling with your lenders it leaves you with the prudent option of planning out a way to avoid accumulating an excessive amount of debt again. There are many resources available online to help you manage and save, instead of spend, your hard-earned dollars which will leave you a much more financially healthy and happy person.

Even when it comes to choosing a savings account as a first step, the long-term trend on all the available choices could mean a difference of thousands of dollars in interest years from now. One

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Consumers can easily get into debt unnecessarily at Christmas, an expert has warned.

Managing director at financial advisory firm Invest Southwest Dave Penny said: “Do not borrow money to spend at Christmas, especially if the mainstream lenders wont touch you.”

He added that those offering payday loans and other short-term deals represent “the fast track on the road to ruin”.

Mr Penny suggested the best approach is to budget carefully and stick to a fixed spending limit, with the cost being kept down through limited present buying and a ceiling on the price of each gift.

He added that in the current gloomy economic climate it is legitimate for people to forego Christmas spending altogether on the basis that it simply cannot be afforded this year.

However, the average consumer will spend £437 on the festive season this year, according to research by Moneysupermarket.com.

It warned this could cause debt problems for many, not least the ten per cent of people its poll found were planning to fund their outlay using credit cards.