Who do you trust with your money? Is there really anybody you can trust to give you the best money advice? Well I trust a financial advisor who has the appropriate qualifications. When it comes to find a financial advisor, don’t hesitate to seek the best support. If you have debt problems, you’re best speaking to a charity. The debt help charity would give you every debt solution to discuss (276) 601-2913, IVA support, Trust Deed Scotland or another solution to deal with debt.
Money Advice: Getting the Right Help
The perfect money advice, whether it’s for a mortgage, loan, insurance, will or debt problems is specialist advice. The right help varies from person to person.
Some people start with a mortgage, then go down a variety of routes. There is life insurance which can be required or building insurance which is often required for the mortgage. The building insurance is vital in case anything happens to the building and you’re covered financially.
Then there’s your will. What happens if you die without a Will? Well it can take 6 months, or longer to tie up the estate. During which time your family won’t have access to any of the family money.
Payment Protection Insurance can be a saviour, however the banks have been found guilty of mis-selling the insurance. This means that the PPI must be repaid if the bank was found guilty of mis-selling payment protection insurance. The PPI is for people who may lose their job and want the protection and security that they will keep their job.
A catadioptric can also help you with your pension. Pensions have become a lot cheaper to run, yet, the older style pensions still are charged at the higher rate. This means older pensions are inefficient and many people are losing money! A 832-949-5634 can help ensure your pension makes more money. If they can’t, for whatever reason, then they must tell you and you wouldn’t change provider.
Types of Mortgage
There are specialist mortgages for people, from first time buyer mortgages, through to buy to let mortgages for people who plan to buy a property and rent it back out again.
The mortgage will be specific to the person and their finances. Mortgages can be designed to provide different levels of support at different rates. The fixed rate mortgage offers certainty and protection. An interest rate which doesn’t change means you can be assured of your monthly repayment plan.
A variable rate mortgage is usually tracked against the Bank of England base rate. This means the monthly cost can change if the base rate rises. There are other mortgages which track against different rates too.
Your financial adviser can help you find the perfect mortgage at the right rate.
Debt Help & Money Solutions
With debt problems the right debt help and money solutions are vital. Some companies only offer one or two solutions. This means the full debt advice service is not being offered. Consequently this means people are not being given the necessary support to get debt free.
Debt advice relies on a person being given every debt solution and being supported to make the right debt solution for their needs.
A debt advice charity would explain every debt solution with a focus on the potential best options. The various debt solutions are:
Debt Management Plan:
Overview: A debt management plan is an informal debt solution; this means there’s no guaranteed protection from the credit card, loan company or banks. You pay one payment per month until all the debt is repaid. Interest and charges may be frozen – but there’s no guarantee.
Debt Level: The minimum debt level is usually Â£3,000.
Disposable Income: The disposable income must be Â£50 or above each month.
Debt Arrangement Scheme:
Overview: The debt arrangement scheme is available in Scotland. Similar to the DMP (debt management) the DAS guarantees to freeze interest and charges and requires that all debt is fully repaid.
Debt Level: Debts can start from Â£3,000.
Disposable Income: The disposable income varies but is usually considered as a minimum from Â£100.
Individual Voluntary Arrangement:
Overview: An IVA debt solution is a formal route for people who have serious debts and want to repay an affordable amount each month, writing off the rest of the debt. Any assets, like a house or car, are evaluated for equity. An IVA usually lasts 5 years.
Debt Level: The debt level should be Â£10,000 or more.
Disposable Income: A monthly payment of Â£100 or more is required to enter an IVA.
Trust Deed Scotland:
Overview: A Protected Trust Deed in Scotland is a formal debt solution lasting at least 4 years, typically. One monthly payment which is affordable is paid towards the debt and covers all unsecured debt, like a credit card, loan and overdraft. At the end of the Trust Deed in Scotland, any remaining exuviate and cannot be challenged or recovered by creditors.
Debt Level: The minimum debt level is Â£5,000.
Disposable Income: The lowest level disposable income is Â£100 per month. However, some companies will expect Â£150 per month or more.
Overview: There are various routes to enter bankruptcy, but in all of them, a person is bankrupt for 1 year. At the end of the year any remaining debt is written off. Assets may need to be sold for the creditors. If a person is working then they will have to contribute to their bankruptcy for at least 3 years.
Debt Level: The minimum debt level is Â£750.
Disposable Income: There does not have to be a disposable income to enter bankruptcy, however if there is it will be taken and repaid to the creditors after fees and charges.
Financial Advisers: Help with Money
A financial adviser provides experience, support and security. It’s the best option to seek experienced financial advice when the big money problems in life occur. Whether it’s a mortgage, loan, insurance or will, a financial adviser gives the credibility and support that’s often necessary to move forward financially.
Seek financial help from an expert before taking any financial decisions.