By using this form of payment, the organisation believes that it is a slippery slope into debt as more and more people are struggling with the demands of home loans and subsequently credit card bills. Furthermore, Shelter are urging those suffering financially to look for debt help at the earliest opportunity and prompting those who are having problems to seek debt advice.

Campbell Robb, chief executive of Shelter explains the severity of the problem yet once again expressing the importance of taking action at the first signs of financial worry, “Already someone faces the nightmare of losing their home every two minutes, and we would urge every single one of these people now relying on credit to keep their home to seek advice urgently.”

The idea behind an IVA is that you pay off what you can in one monthly, manageable payment over a fixed period which is usually 5 years. You will qualify as long as you have a monthly income of at least £200 and by the end of the period, any outstanding debt will be written off. Although this should be viewed as a healthy alternative to bankruptcy, if you don’t keep up with your monthly payments you could face going bankrupt.

To find out more about this financial solution that we offer, call us today or take our free online debt test to see what service best suits your situation.

Furthermore last week it was estimated that British shoppers will owe a staggering £150 million in credit card bills by February. Although it’s not always the fairer sex to blame, insolvency expert Mark Sands from accountancy form RSM Tenon believes 2011 will be a bad year financially for women. He explains “Spending habits and ­attitudes to debt have changed and there will be a long-term trend for higher female insolvencies.”

If you know you’ve overspent this Christmas then get a head start on your bills. Whether you’re male or female, Kensington Finance can help you. Offering a wide range of financial solutions, we aim to make you debt free by implementing services such as a debt management plan, debt consolidating or if all other options have been exhausted we can help you file for bankruptcy. Contact us today to see how we can work together to make your future debt free.

Jumping from 17.5% to an all-time high of 20% the increased cost of living is thought to seriously reign in consumer spending with retailers suffering the consequences as a result. The prices most affected will be air fare, fuel costs and alcohol whilst most food, children’s clothing and footwear, books, newspapers and magazines will remain tax free.

If you’re struggling to stay on top of your finances in the face of an increased cost of living, Kensington Finance can help offer you a solution that fits your debt. From consolidating your bills to exploring a debt management plan, we will strive to find the best option for you and your situation.

Call us today to see how we can help you make a fresh start or if you’d prefer fill out our free online debt test to get the ball rolling.

An individual voluntary arrangement is the perfect alternative to bankruptcy as there is no upper limit in terms of how much you owe.  To qualify you need to have at least £15,000 worth of debt over several providers and a requirement is that you are on an income of at least £200 a month.

Your interest rates are frozen, and a monthly payment is agreed between you and your creditors, taking into consideration your other needs and outgoings. Kensington Finance would take over all communication with banks, cutting out the stress and hassle of upsetting phone calls as we would directly deal with them.

As with all things in life, there is a downside to entering into an IVA. Although it is a valuable alternative to bankruptcy, failure to adhere to the course of action, i.e. not keeping up with your payments could force you to file for bankruptcy.

If you think you would benefit from entering into an IVA, contact us today to find more out about the process.

As people past the working age, their income drops and they’re faced with financial difficulties. Una Farrell from Consumer Credit Counselling Service (CCCS) explains “Dealing with debt is particularly hard as you get older as you are likely to have limited opportunities to increase your income.”

If you’re in the affected age range and are living without a regular income, it is easy to fall behind on your payments and land in debt. At Kensington Finance we offer a range of debt solutions including debt consolidation, a debt management plan, IVA options or if all other alternatives have been explored we can help you file for bankruptcy. Contact us today to find out more or if you’d prefer, fill out our free online debt test to see which solution would best suit you and your situation.

London Mayor Boris Johnson argues the rises are needed to pay for investment. But campaigners like chief executive Stephen Joseph, from the Campaign for Better Transport argued: “Commuters feel like they are being pickpocketed by the government, expected to pay more year on year for the same poor quality service.

“Even with the promised extra investment, many passengers will see no actual improvement to their daily commute.

“Politicians need to start living in the real world and understand that people simply cannot afford to pay a fifth of their income just to do a day’s work. The government pledged to create fair fares and we all expect them to keep that promise.”

Meanwhile, if you are being affected by the rising rail fares and are juggling credit card debt, then get in contact with Kensington Financial Management Consultants. Call us on: 0808 120 1381

Despite this figure, the average amount usually transferred onto new cards has dropped from £2,290 at the end of 2008 to £1,015.

Ian Coles from Santander Cards says “Our research shows that millions of people are switched on to the benefits of transfer offers and are choosing to take a proactive approach to managing their money.

“The fact that the average amount being transferred has fallen considerably over the past couple of years would also suggest that consumers have reined in their spending and that credit cards are being increasingly well managed. January can be a particularly tough time financially, which is why we encourage consumers to keep a close eye on their finances and to shop around to ensure that they are receiving the best rates.”

If you’ve had an expensive couple of months and it’s landed you in debt, Kensington Finance can help you get back on your feet. To eliminate the fear of debt, debt consolidation and a debt management plan can both make a huge improvement in your finances and your life. Call us today to see what solution can help you.

Mr Miliband urged the government to apologise for suggesting the rate of rise would be a “progressive” policy. He also commented that the VAT increase among other government policies to tackle the budget deficit was too much.

Meanwhile, Mr Osborne has defended the VAT rise arguing it will boost employment and was better than raising tax. He said: “I didn’t come into politics and become chancellor of the exchequer wanting to increase taxes. I’m actually someone who believes we want to try and lower taxes in this country.

“But when you’ve got a very large budget deficit and you’ve in the middle of a European sovereign debt crisis – and you’ve decided that at least part of dealing with the deficit has to come from tax rises – then I think VAT presents itself as the choice.”

He added: “If you look at the population and how much they spend, then VAT is progressive.”

However, if you are being affected by the VAT rise and are struggling to pay off credit card debt, then get in contact with Kensington Financial Management Consultants. Here at Kensington Finance our friendly and professional staffs offer a wealth of expert advice in solving debt problems, from debt advice to debt solutions. Contact us on: 0808 120 6689

The movement, prompted by the governments lobbying to providers to approach customers with more patience will disallow companies to randomly increase interest rates making it extremely difficult for credit card users to pay off their bills. From February, providers will be forced to give customers a full 60 days’ notice ahead of any planned interest rate increase and furthermore certain customers will have the right to reject the hike.

If you’ve found yourself in debt due to credit card bills or any other loans, Kensington Finance can offer you a wide variety of services to help improve your financial situation. With choices from a debt management plan to consolidating your loans to entering an IVA, we’re bound to have a solution for you. Call us today to see what we can do for you or alternatively take our free online debt test.