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Debt Counselling
Are you having difficulty managing your money? You may be
considering loan consolidation, taking out one loan to cover
all your existing repayments. Be careful you don't end up
even deeper in debt! The interest rates and fees charged by
consolidation loan providers can be much higher than those
available from high street lenders. Such loans may also come
with onerous payment protection insurance.
If you are starting to struggle, your first port of call
should be one of a number of free advice services to help
you manage your debts:
Consumer Credit Counselling Service www.cccs.co.uk 0800 138
1111 (8am-8pm Monday-Friday)
National Debtline 0808 8084000 (9am-9pm Monday-Friday, 9.30am-1pm
Sat)
Citizens Advice Bureau www.adviceguide.org.uk (for advice
or to find local bureau) [Back to top]
Deposit
In simple, this is the sum of you put down as the first instalment
in a series of payments. In purchasing property it is the
sum payable by the buyer as a sign of good faith to the seller
when the initial agreement is made.
The term may also be used more generally to describe a contribution
by the buyer to the purchase price. [Back to top]
Debt Consolidation
A Debt Consolidation loan is a loan used to pay off some
or all of your existing credit, making your finances easier
to manage.
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