ICAEW on Personal Finance

Size: px
Start display at page:

Download "ICAEW on Personal Finance"

Transcription

1 ICAEW on Personal Finance How much will it cost me to go to university? Kate is about to go to university to study for a degree in business and finance. She is really looking forward to moving away from home, meeting new friends and being able to study a subject she has a real interest in. Kate is keen to understand how much it will cost her to go to university and what financial support will be available to her. Kate will get a student loan to pay for her tuition fees and a maintenance loan to help with her living expenses, but she is wondering if there is any other support available to help her to pay for her accommodation.

2 Student loans and repayments Here are some examples of what you would repay: The main student finance package includes a: Your income per year Monthly repayments Tuition fee loan Maintenance loan Maintenance grant. Tuition fee loan This loan pays for your course. It is paid directly to your university or college and because it is a loan you have to pay it back. The loan is up to 9,000 per year and will vary depending on what fees the university you are going to has decided to charge. So if you go to a university that charges the full 9,000 per year, you will owe 27,000 in tuition loans after a three-year degree course. Maintenance loan Maintenance loans help with living costs (eg, accommodation, books and bills). These are available for full-time English students and will need to be paid back. The loan is paid directly into your bank account at the start of each term. The rates for courses from September 2014 are: Living away from home, outside London Up to 5,555 per year Living away from home, in London Up to 7,751 per year 21,000 and under No repayments 25, , , , , Additional support Many universities, colleges, companies and charities offer financial support through bursaries and scholarships. Extra support may also be available to students who have dependents, disabilities or specific learning difficulties. If you get or qualify for income support or housing benefit, you may also receive a special support grant instead of a maintenance grant. Your student loan balance will be written off after 30 years so after this time, you won t have to pay off any more. Research all the financial support options available to you before you apply for your university course (especially bursaries and scholarships). Living at home Up to 4,418 per year You spend a year of a UK course studying abroad Up to 6,600 per year Maintenance grant This grant also helps with living costs. You must be a full time English student and you will need to provide details about your household income. The grant will be paid into your bank account at the start of each term. You won t have to pay this grant back but any grant you receive will reduce your maintenance loan.

3 Different types of accommodation All universities will have some accommodation that they manage, usually called halls of residence. Newer university accommodation often takes the form of flats that are self contained or share a small communal area. Places in university-run accommodation are usually only available in the first year of your course because they are in such short supply. Even then you are not guaranteed a place and many inner city universities in particular will not have places left for students who apply late or get a place through the clearing process. How much will you pay? Expect to pay anywhere between 300 and 600 per month (more if in London) depending on what type of accommodation that you want. Accommodation that has catering provided or personal en-suite washing facilities will cost more. Rent is usually paid termly, in advance, and you may also have to pay a deposit which you will get back when you move out as long as you haven t damaged the property. The facilities provided in each university will also differ. Most rents are inclusive of energy costs (heating, lighting and water) and contents insurance. Some also provide internet access and membership of nearby sports facilities. You will have to pay for a TV licence and will probably have to provide your own bed linen, towels, crockery, cutlery and cooking utensils. Privately-rented accommodation The cost of privately-rented accommodation varies greatly, depending on the area of the country, the condition of the property and how many people you share with. This payment will be for the room, or house, only. You will have to meet catering costs yourself. Expect to pay per month, more if you are in London. Again you can expect to pay a deposit (usually equivalent to one month s rent) that will be repaid at the end of your tenancy. To avoid arguments with housemates and/or the landlord when you leave the property, make sure that you: read the wording of the lease agreement very carefully; take photographs of any areas of damage that were already present when you first entered the property; and complete an inventory of all items in the house. The last two should be shown to the landlord as soon as completed so that he/she agrees with you. Increasingly landlords are asking tenants to provide a UK-based guarantor, who would be legally responsible for paying your rent if you fail to do so. If you don t have a UK-based guarantor (usually a parent), some landlords will require you to pay several months rent at the start of the tenancy (usually between three and six months). If you live in university residences in your first year and have to move into privately-rented accommodation next year, you would normally arrange this in the June/ July after your first year exams. This means that, as you will pay your deposit in advance, it will come out of your current year s funding. Many students forget to take into account the cost of travelling from their accommodation to university. This could mean that a place that initially looked cheap actually proves to be quite expensive. Make sure you have enough money at the end of your first year at university to pay your deposit for next year s accommodation.

4 Interest payments Interest is the amount of money that you pay in order to borrow money. You pay it to whoever is lending you the money and it is normally paid as a percentage of the amount that you have borrowed. One of the cheapest forms of borrowing is the student loan. For up to date information on the current repayment rates visit studentloanrepayment.co.uk Some pay-day loan companies charge interest of over 5,000% on their loans. ( December 2013) If you re going to university, make sure you contact your bank to find out how long you have to pay off your student overdraft once you have graduated. Any other form of borrowing that you have will charge higher rates of interest. In order of interest rate paid, here are some of the other main ways of borrowing money. Bank loan this is money borrowed for a specific purpose and for a set period of time. Repaid in instalments and usually taken straight from your bank account, rates will vary from 5% 10% APR. Credit Union loans money borrowed from local not-for-profit financial cooperatives. They tend to be for borrowing small amounts and the interest rate can range from 6% 26% APR but is generally around 13% APR. They are a much cheaper alternative to loan sharks or pay-day loan companies. Overdraft when you take more money out of your bank account than you have in it. You can only do it if the bank gives you permission and there will usually be charges and interest to pay if you do so. Rates will vary from 15% 20% APR. Most students should have an account that gives them an interestfree overdraft, the amount varying from bank to bank. However, once you have graduated any overdraft will need to be paid off or you will start to pay interest on it after a certain period of time. Credit cards these are used to buy products from most retail high street or online outlets. You are given a credit limit, which could be several thousand pounds and must repay any outstanding amount by the end of the month. Any amounts not repaid are charged interest rates similar to overdrafts, 15% 20% APR. Store cards similar to credit cards but only for use in a particular shop, or chain of shops. Interest rates are higher though and range from 20% 30%. Loan sharks these are illegal money lenders with no licence to lend money. Although they won t ask for much identification, their rates can range from 30% 3,000%! Pay-Day loans the most expensive form of borrowing. These are aimed at people who want to borrow relatively small amounts (up to 400) over a short period of time. The APR and default charges are very large.

5 Dealing with debt Most students emerge from university in debt to the government and will, over time, repay their student loans. However, a few students get into real problems with debt during their time at university. Some examples of the sort of difficulties they face include: repaying debts, for example on credit cards, store cards, overdrafts or loans; missing payments because they can t afford them; borrowing more money to repay their debts; using pay-day loan companies; being charged lots of interest; and losing track of how much money they owe. It can be very tempting to ignore a difficult financial situation, but it is important to remember that the debt will not disappear by itself. The situation will usually get worse the longer you leave it. It is never too late to improve the situation, so take action now. The correct course of action is to talk to someone about your problem(s) and get help to resolve the situation you are in. All universities will have a debt/welfare adviser in their Advice and Counselling Service, who can help you to deal with your debts. They are used to dealing with these issues and they know that many people who are in debt feel embarrassed or ashamed and are reluctant to ask for help. Any conversation that you have with a debt/welfare adviser will be confidential and nonjudgemental about your situation and they will not ask how you got into debt. After completing your degree the average student debt is expected to be 40,000 50,000. (Push university guide). Never ignore a debt problem if you ever get worried about your debts, seek advice sooner rather than later. Figures are correct as of December 2013 ICAEW /14 Most debt advisers would do the following. Work out how much money you can afford to pay each month, if any, for debt repayments. Help you write to all your creditors to offer them a realistic monthly repayment amount based on what you can afford to pay. Ask your creditors to consider freezing interest charges so that all of your repayments help reduce the total debt. You might have already tried to negotiate with your creditors without success. However, creditors will usually take their customers more seriously if they have the support of a third party, such as a debt/ welfare adviser. Alternatively, there are national organisations like National Debtline or StepChange that you can contact: freephone freephone Both organisations give free, confidential and independent advice on dealing with debt. They offer lots of practical advice online or by phone. You can also download sample letters to use to send to creditors to renegotiate repayment amounts. Depending on how many different debts you have and the size of your debt, both companies also offer advice about other options such as making a debt management plan where all your debts are consolidated and you pay one monthly amount.

Credit Crunching. a student guide to credit 2010/11

Credit Crunching. a student guide to credit 2010/11 Credit Crunching a student guide to credit 2010/11 Introduction Whether you are a student or a graduate it is important to understand all the different types of credit out there in the market place. Credit

More information

FACT SHEET. Money matters. Paying bills

FACT SHEET. Money matters. Paying bills 12 FACT SHEET Money matters This fact sheet provides advice and information about how best to manage your money to make it easier to manage your household expenses. It also provides details of agencies

More information

Financial Support and Benefits

Financial Support and Benefits Financial Support and Benefits Debt Somerset County Council positively values diversity, and celebrates cultural and social differences. Our Equal Opportunities Promise is to provide all services of equal

More information

Money Matters: What you need to know about debt. What is debt?

Money Matters: What you need to know about debt. What is debt? What is debt? Debt is a sum of money owed to another person or organization. A debt can be in the form of a: Bank loan Rent arrears Utility bill debts Over draft with bank account Failure to pay council

More information

When Finances Go Wrong - Debt

When Finances Go Wrong - Debt When Finances Go Wrong - Debt Very few people now have no debt at all after all a mobile phone contract, or your rent/mortgage are both debts. It becomes an issue for people when they cannot meet the payments

More information

Student debt advice guide

Student debt advice guide Student debt advice guide Free, Impartial Debt Advice Introduction As a student, you might be worried about how you re going to manage your finances. This guide will help you understand your options and

More information

Can t Pay Your Mortgage?

Can t Pay Your Mortgage? Can t Pay Your Mortgage? Helpful advice from the BSA and the Money Advice Trust Can t Pay Your Mortgage? Having problems paying your mortgage can be one of the most stressful and traumatic problems that

More information

Make your budget work for you

Make your budget work for you Welfare Reform Make your budget work for you www.milton-keynes.gov.uk/welfare-reform Make your budget work for you Why budget It s always a good idea to keep track of your money. Budgeting is keeping track

More information

Housing options for single parents

Housing options for single parents Formed from the merger of the National Council for One Parent Families and Gingerbread Factsheet For single parents in England and Wales February 2012 Freephone 0808 802 0925 Gingerbread Single Parent

More information

The Money Maze. How to Escape the Poverty Trap

The Money Maze. How to Escape the Poverty Trap The Money Maze How to Escape the Poverty Trap 2 I The Money Maze In a national survey, the Bassetlaw district has been ranked 61st out of the 326 council areas for being at risk of poverty, and 64th for

More information

In Debt. Dealing with your creditors

In Debt. Dealing with your creditors In Debt Dealing with your creditors 0 This guide has been produced by the Insolvency Service with the help and support of the IVA Standing Committee. The Insolvency Service would like to thank the members

More information

Do you have a bank or other account suitable for your needs.

Do you have a bank or other account suitable for your needs. Do you have a bank or other account suitable for your needs. Accounts compared Suitable for direct payment? *Only Welfare Benefits, State Pensions and some Tax Credits Can I pay other money e.g. wages

More information

Money Borrowing money

Money Borrowing money Money Borrowing money Aims: To enable young people to explore ways of borrowing money and the advantages and possible consequences of doing so. Learning Outcomes: By the end of the session the participants

More information

Students and young people. Credit Crossroads

Students and young people. Credit Crossroads Students and young people Credit Crossroads Experian is a leading UK credit reference agency. When you apply for credit, you will probably give the lender (the company you want credit from) permission

More information

Full-time Guide. You can afford to go to Uni

Full-time Guide. You can afford to go to Uni Full-time Guide You can afford to go to Uni The true cost of full time higher education study in England from 2013 Introduction The information in this guide is for full-time students in England starting

More information

You can afford to go to Uni

You can afford to go to Uni Full-time Guide You can afford to go to Uni The true cost of full time higher education study in England 2014 Introduction The information in this guide is for full-time students in England starting a

More information

DEBTS. The good, the bad, and the consequences

DEBTS. The good, the bad, and the consequences DEBTS The good, the bad, and the consequences Credit Most students need to borrow money to get through university there are student loans for tuition fees and living expenses. These are provided at low

More information

Borrowing from a credit union

Borrowing from a credit union Borrowing from a credit union Ever thought about joining a credit union? Bristol Credit Union and Somerset Savings and Loans are both credit unions based in the south west. If you re a Knightstone resident,

More information

A Self Help Guide to Money Problems

A Self Help Guide to Money Problems A Self Help Guide to Money Problems DERBY CITY COUNCIL Money Advice Service If you re in debt and don t know which way to turn, then this guide will help you. Act now! Help yourself by following these

More information

ICAEW on Personal Finance

ICAEW on Personal Finance ICAEW on Personal Finance Living away from home for the first time Jack decided he didn t want to go to university after finishing his A-levels. Instead he applied for a Higher Apprenticeship within a

More information

There are four main areas to look at when you are trying to manage your money more effectively.

There are four main areas to look at when you are trying to manage your money more effectively. Dear Self Help Budgeting Pack Thank you for your interest in our Money Management Advice Service. This pack has been designed to help you manage your money better and re-prioritise your essential expenditure.

More information

Money Advice Pack PB 1

Money Advice Pack PB 1 Money Advice Pack 1 Introduction Many people suffer difficulties with money at some time in their lives. Money problems can be caused by a variety of reasons, such as losing your job, illness, decreased

More information

Money and Debt Advice

Money and Debt Advice Money and Debt Advice Introduction Hyde Plus provides confidential, unbiased advice on a range of money-related topics, no matter how big or small the money worry. This booklet will provide you with some

More information

Dealing with debt Top Tips

Dealing with debt Top Tips Dealing with debt Top Tips Don t ignore the problem it won t go away. The longer you leave it, the worse it will get. Get advice from the Student Advice Centre, Citizens Advice Bureau or other independent

More information

You can afford. The true cost of full time higher education study in England from 2012 STUDENT GUIDE

You can afford. The true cost of full time higher education study in England from 2012 STUDENT GUIDE You can afford to go to Uni The true cost of full time higher education study in England from 2012 STUDENT GUIDE The information in this guide is for full-time students starting a higher education course

More information

STUDENT SERVICES MONEY MATTERS. full-time undergraduates 2014-2015

STUDENT SERVICES MONEY MATTERS. full-time undergraduates 2014-2015 STUDENT SERVICES MONEY MATTERS full-time undergraduates 2014-2015 All wood/pulp used in this leaflet was sourced from sustainable producers and responsibly managed forests that create minimal environmental

More information

Important Information to help people in mortgage arrears

Important Information to help people in mortgage arrears Important Information to help people in mortgage arrears September 2015 Talk to your Lender Banking & Payments Federation Ireland represents Ireland s principal mortgage lenders. These lenders are committed

More information

Debt Advice Self Help Pack

Debt Advice Self Help Pack Central Bedfordshire Council www.centralbedfordshire.gov.uk Debt Advice Self Help Pack Do you find there is not enough money to pay your bills each week/month? Has your credit become debt? Are your outgoings

More information

Get in touch. Help with benefits and debt. www.accentgroup.org. Accent Nene 0345 678 0595 peterborough@accentgroup.org @accentpb facebook.

Get in touch. Help with benefits and debt. www.accentgroup.org. Accent Nene 0345 678 0595 peterborough@accentgroup.org @accentpb facebook. Get in touch Accent Nene 0345 678 0595 peterborough@accentgroup.org @accentpb facebook.com/accentpb Accent North West 0345 678 0590 burnley@accentgroup.org @accentbrn facebook.com/accentbrn Help with benefits

More information

Funding for your first year: what you need to know

Funding for your first year: what you need to know Funding for your first year: what you need to know 2016/17 Finance essentials Information for UK students and their parents or carers Inside about us financial support help with living costs cost of living

More information

Universities can charge anything up to 9000 tuition fees per year on every course

Universities can charge anything up to 9000 tuition fees per year on every course Student Finance. Finance Facts Universities can charge anything up to 9000 tuition fees per year on every course Universities can decide what they charge and some vary according to the subject you study

More information

Banking made clear. Information pack for people with learning disabilities.

Banking made clear. Information pack for people with learning disabilities. Banking made clear Information pack for people with learning disabilities. This handy guide provides information about how you can: open and manage your own bank account keep safe when you are using your

More information

Banking made clear. Information pack for people with learning disabilities.

Banking made clear. Information pack for people with learning disabilities. Banking made clear Information pack for people with learning disabilities. This handy guide provides information about how you can: open and manage your own bank account keep safe when you are using your

More information

Important information to help people in mortgage arrears

Important information to help people in mortgage arrears Important information to help people in mortgage arrears September 2015 Contents Talk to your Lender Talk to your Lender 3 Explore your Options 4 Contact a Trusted Third Party for Advice - MABS (Money

More information

No selling. No jargon. Just the facts about borrowing money. Our guides here to help you. No selling. No jargon. Just the facts.

No selling. No jargon. Just the facts about borrowing money. Our guides here to help you. No selling. No jargon. Just the facts. June 2009 Our guides here to help you This guide is part of our Everyday money series. About the Financial Services Authority. Buying a home. Saving and investing. Pensions and retirement. If things go

More information

Opening a bank account

Opening a bank account Section 6 - Money4_7_Layout 1 10/01/2011 11:42 Page 124 Money Section 6 Opening a bank account 125 Borrowing money 127 Budgeting and managing your money 129 124 Money Opening a bank account Opening a bank

More information

Problems paying your mortgage

Problems paying your mortgage Problems paying your mortgage What you need to do now and how to get back on track Steps to take now What your options are Get free impartial advice The Money Advice Service is independent and set up by

More information

for Newcomers and New Canadians Module 2 How to Build Credit In Canada Student Workbook

for Newcomers and New Canadians Module 2 How to Build Credit In Canada Student Workbook for Newcomers and New Canadians Module 2 How to Build Credit In Canada Student Workbook Welcome! This workshop is about credit. Credit is buying something now, but paying for it later. Credit can be useful

More information

Dealing with debt - toolkit Information from Southampton City Council. Step 5. Tackle the most important debts first

Dealing with debt - toolkit Information from Southampton City Council. Step 5. Tackle the most important debts first Dealing with debt - toolkit Information from Southampton City Council Step 5. Tackle the most important debts first Step 5. Tackle the most important debts first priority creditors. Some debts are more

More information

www.lewishamhomes.org.uk 1

www.lewishamhomes.org.uk 1 For tenants Contents 1. Ways to help yourself out of debt and increase your income 2 Don t ignore the problem. Ask for help. 2 Claim all the benefits you are entitled to. 2 You may also be able to increase

More information

DEBT SELF HELP GUIDE. Advice Centre

DEBT SELF HELP GUIDE. Advice Centre Advice Centre DEBT SELF HELP GUIDE This leaflet aims to help you have a clearer understanding of debt and to give guidance about how to plan your budgeting. DEBT SELF HELP GUIDE This leaflet aims to help

More information

Dealing with debt. A guide for customers

Dealing with debt. A guide for customers Dealing with debt A guide for customers How you can get help Banks are here to help you run your finances smoothly in a complicated world. You can get help in good and bad times. Banks understand that

More information

Business finances. Contents. Maintaining your cash flow

Business finances. Contents. Maintaining your cash flow This information is an extract from the booklet Self-employment and cancer. You may find the full booklet helpful. We can send you a free copy see page 6. Contents Maintaining your cash flow Reducing your

More information

Money the. Making a budget work for you. Jobs. workshops. CVs. DoCtors. events. resources INTERNATIONAL. entrepreneurship

Money the. Making a budget work for you. Jobs. workshops. CVs. DoCtors. events. resources INTERNATIONAL. entrepreneurship Money the DoCtors Making a budget work for you workshops INTERNATIONAL part-time and graduate events local Jobs entrepreneurship networking volunteer employers supportcareers www.roehampton.ac.uk/employability

More information

Financial Literacy. Credit basics

Financial Literacy. Credit basics Literacy Credit basics 2 Contents HANDOUT 6-1 Types of credit Type of credit Lender Uses Conditions Revolving credit Credit Cards (secured and unsecured NOT prepaid) To make purchases, pay bills, make

More information

getting your finances back on track

getting your finances back on track ABOUT US DEBT GUIDANCE DEBT GUIDANCE getting your finances back on track Hafod is a housing association registered with the Welsh Assembly Government. We are a non-profit making organisation and operate

More information

Fees and Financial Support

Fees and Financial Support Fees and Financial Support UK/EU Undergraduate 2015 Entry www.lboro.ac.uk/funding Contents Page Tuition Fees 1 Living Costs 1 Government Loans and Grants 2 University Bursaries and Scholarships 3 Budgeting

More information

INSIDE: STUDENT FINANCE EXPLAINED MARTIN S BUDGETING TIPS NEW PACKAGE FROM AUTUMN

INSIDE: STUDENT FINANCE EXPLAINED MARTIN S BUDGETING TIPS NEW PACKAGE FROM AUTUMN talking money a parent s guide to student finance in england INSIDE: STUDENT FINANCE EXPLAINED MARTIN S BUDGETING TIPS NEW PACKAGE FROM AUTUMN 2008 Including top tips from TV s money saving expert, Martin

More information

Keeping up with mortgage repayments

Keeping up with mortgage repayments Keeping up with mortgage repayments This information is an extract from the booklet Housing costs, which is part of our Financial guidance series. You may find the full booklet helpful. We can send you

More information

Student finance. Adele Ruston Widening Participation and Undergraduate Recruitment Officer

Student finance. Adele Ruston Widening Participation and Undergraduate Recruitment Officer Adele Ruston Widening Participation and Undergraduate Recruitment Officer Overview Cost of University What support is available? Living costs Government loans Repayment of loans Government grants University

More information

Get advice now. Are you worried about your mortgage?

Get advice now. Are you worried about your mortgage? Are you worried about your mortgage? Get advice now If you are struggling to pay your mortgage, or you think it will be difficult to pay more when your fixed-rate deal ends, act now to stop your situation

More information

GUIDE TO DEALING WITH DEBT

GUIDE TO DEALING WITH DEBT GUIDE TO DEALING WITH DEBT CONTENTS Page 4 Where do I start? Page 5 Do I have to pay? What can I afford to pay? Page 7 Who to pay first? Page 10 What can I afford to pay on my Credit Debts? Page 12 What

More information

Want. to make. your. home. your. own? Find out if this could be the right time to consider buying. Your Right to Buy

Want. to make. your. home. your. own? Find out if this could be the right time to consider buying. Your Right to Buy Council or Housing Association tenants Want Your Right to Buy to make your home your own? Find out if this could be the right time to consider buying 1 Contents Why you might like to buy Why you might

More information

Here are the main types of student finance you can get:

Here are the main types of student finance you can get: Going to uni or college?you can get student finance to help pay for your costs while studying. There s lots of financial help available; loans (which do have to be paid back) and grants and bursaries (that

More information

Budgeting and debt advice handbook for residents

Budgeting and debt advice handbook for residents Budgeting and debt advice handbook for residents Step-by-step guide Contents Introduction...................... 3 Income maximisation List your income Can you increase your income? Income..........................

More information

A guide to overpayments and debt

A guide to overpayments and debt If you have any questions about Housing Benefit or Council Tax Benefit please contact us by: Phoning us on 0300 123 70 70 Visiting your local council office, or looking at our website www.durham.gov.uk

More information

LOAN APPLICATION FORM

LOAN APPLICATION FORM LOAN APPLICATION FORM Please use black ink and complete all sections in BLOCK CAPITALS. (For loans fully covered by savings or guarantee, only Parts 1, 3 and 9 should be completed.) If you need any help,

More information

Berwick Savings and Loan

Berwick Savings and Loan Berwick Savings and Loan The easy way to save and have access to cheap loans with free life assurance. Berwick Savings and Loan Facts about Credit Unions 18,000 people now hold current accounts run by

More information

Your Money, Your Choice

Your Money, Your Choice Your Money, Your Choice With rising living costs many people are looking for help when it comes to making the most of their money. Find out what help is available for you. www.rotherham.gov.uk Together

More information

Debt Advice For Older People

Debt Advice For Older People Debt Advice For Older People Debt Advice For Older People Older people are among the hardest hit financially in the current economic climate as savings are eroded and everyday essentials increase in cost.

More information

CCCS Debt Advice Guide

CCCS Debt Advice Guide CCCS Debt Advice Guide Introduction As a registered charity, we help people with financial troubles by giving them free, impartial advice. If you need debt help, you have come to the right place; whatever

More information

The Back-to-Black Report. Are UK credit cardholders getting a good deal? A report by Mike Naylor, 2014

The Back-to-Black Report. Are UK credit cardholders getting a good deal? A report by Mike Naylor, 2014 The Back-to-Black Report Are UK credit cardholders getting a good deal? A report by Mike Naylor, 2014 This report was commissioned to investigate if UK credit cardholders are getting a fair deal from credit

More information

Adequate Explanations

Adequate Explanations Adequate Explanations CCTA PLA 10.14 H&T Pawnbrokers are required by law to provide you with the following information in order for you to decide if the loan is suitable for your needs and to highlight

More information

Renting a property fact sheet

Renting a property fact sheet Renting a property fact sheet Renting a property with Cornwall Council For a lot of people renting a house for the first time can be scary. But it doesn t need to be. In this fact sheet you will find information

More information

Undergraduate Full-time Finance Information 2016

Undergraduate Full-time Finance Information 2016 Undergraduate Full-time Finance Information 2016 www.weston.ac.uk You ll probably already know that there are lots of benefits of going to university - you ll meet new people, develop new ideas, and get

More information

What you need to know

What you need to know Running an Aspire Home What you need to know Running a home can prove to be very expensive and if it s your first time it can be quite a scary experience. This booklet contains information and advice about

More information

Dealing with Debt. www.waverley.gov.uk/housingoptions

Dealing with Debt. www.waverley.gov.uk/housingoptions Dealing with Debt www.waverley.gov.uk/housingoptions You Are Not Alone These days, lots of people are in debt for different reasons and many people find their debts difficult to manage. The important thing

More information

WANT TO MAKE YOUR HOME YOUR OWN?

WANT TO MAKE YOUR HOME YOUR OWN? WANT TO MAKE YOUR HOME YOUR OWN? 1 Your Right to to Buy Buy FOR COUNCIL AND HOUSING ASSOCIATION TENANTS CONTENTS 3 Why you might like to buy 4 Do you have the Right to Buy? 6 What discount could you get?

More information

A GUIDE TO SAFE BORROWING

A GUIDE TO SAFE BORROWING Factsheet 12 A GUIDE TO SAFE BORROWING Every now and again we may need to borrow money, be it a large amount for a major purchase or a smaller amount for Christmas presents, something for your home or

More information

WANT TO MAKE YOUR HOME YOUR OWN?

WANT TO MAKE YOUR HOME YOUR OWN? WANT TO MAKE YOUR HOME YOUR OWN? July 2015 1 Your Right to to Buy Buy FOR COUNCIL AND HOUSING ASSOCIATION TENANTS CONTENTS 3 Why you might like to buy 4 Do you have the Right to Buy? 6 What discount could

More information

where would i want to live?

where would i want to live? Section 4 57 The first move for a young person when considering moving out is to draw up a budget. It will help you work out what kind of accommodation you can realistically afford, not just the rent but

More information

Car loans. Richie found it pays to shop around. How do car loans work? Factsheet. August 2011

Car loans. Richie found it pays to shop around. How do car loans work? Factsheet. August 2011 Factsheet August 2011 Apart from your home, a car is one of the biggest single purchases you re ever likely to make. If you don t have the cash to pay for it upfront, you ll need to borrow money. And,

More information

Thinking about borrowing money?

Thinking about borrowing money? Thinking about borrowing money? Your guide to different types of credit. The Consumer Council Loan Agreement C Credit Union U Thinking about borrowing money? When thinking of borrowing money it s important

More information

This self help guide will assist you in sorting out your debts and put you back in control of your finances.

This self help guide will assist you in sorting out your debts and put you back in control of your finances. This self help guide will assist you in sorting out your debts and put you back in control of your finances. Part of the Bolton Family DEBT This self help guide will assist you in sorting out your debts

More information

Take Control of Your Debt

Take Control of Your Debt Student Services Funding & Advice Take Control of Your Debt SUCCESS...We ll help you achieve it! @UWS_Funding TAKE CONTROL OF YOUR DEBT Borrowing money can be an inevitable part of life. It is important

More information

Get advice now. Are you worried about your mortgage? New edition

Get advice now. Are you worried about your mortgage? New edition New edition July 2009 Are you worried about your mortgage? Get advice now If you are struggling to pay your mortgage, act now to stop your situation becoming worse. Working with Citizens Advice Bureaux

More information

Dealing with Debt. Some Top Tips

Dealing with Debt. Some Top Tips Dealing with Debt Dealing with Debt Are you worried about the amount of debt you have? Can you no longer meet the monthly credit card or loan repayments? Are you behind with priority bills for example,

More information

Important information to help people in mortgage arrears

Important information to help people in mortgage arrears Important information to help people in mortgage arrears September 2015 Contents Talk to your Lender Talk to your Lender 3 Explore your Options 4 Contact a Trusted Third Party for Advice - MABS (Money

More information

Build your skills for managing your money

Build your skills for managing your money Managing your debts Part 1 This task has three parts to it. Part 1 This is where you will find information and activities to build your numeracy skills to help you when you owe money, and when you need

More information

We have over 20 years experience of helping people just like you. We are the only small business debt advice charity operating in the UK.

We have over 20 years experience of helping people just like you. We are the only small business debt advice charity operating in the UK. Freephone 0800 197 6026 www.businessdebtline.org Debt relief orders (DROs) What this fact sheet covers This fact sheet tells you when a debt relief order may be a good option for you to deal with your

More information

Credit Workshop. What I need to know about credit and lending products of financial institutions. Financial Education Supported by:

Credit Workshop. What I need to know about credit and lending products of financial institutions. Financial Education Supported by: Credit Workshop What I need to know about credit and lending products of financial institutions. Financial Education Supported by: Concept Checklist What will I learn today? [ ] What is Credit? [ ] Advantages/

More information

Are you in debt? Do you need to sell your house fast? Then Read on to find out How To Get Out Of Debt Now!

Are you in debt? Do you need to sell your house fast? Then Read on to find out How To Get Out Of Debt Now! Are you in debt? Do you need to sell your house fast? Then Read on to find out How To Get Out Of Debt Now! When you miss mortgage payments you can find yourself in deep trouble. The mortgage lender could

More information

You can put aside money each month into a savings account that pays interest - when you have saved up 800 you can buy the TV

You can put aside money each month into a savings account that pays interest - when you have saved up 800 you can buy the TV You can put aside money each month into a savings account that pays interest - when you have saved up 800 you can buy the TV If you saved 30 per month it would take 27 months to save up 800 If you saved

More information

Get advice now. Are you worried about your mortgage? New edition

Get advice now. Are you worried about your mortgage? New edition New edition July 2010 Are you worried about your mortgage? Get advice now If you are struggling to pay your mortgage, act now to stop your situation becoming worse. Working with Citizens Advice Bureaux

More information

The RBF also licenses some credit institutions that provide personal loans (for education, travel etc), business loans, mortgages and vehicle loans.

The RBF also licenses some credit institutions that provide personal loans (for education, travel etc), business loans, mortgages and vehicle loans. Welcome again to the Public Awareness column provided by the Reserve Bank of Fiji (RBF). This month s article focuses on borrowing money and managing that credit. We also provide some issues you should

More information

GUIDE TO UNDERGRADUATE STUDENT FINANCE 2015 PROSPECTIVE UK/EU STUDENTS

GUIDE TO UNDERGRADUATE STUDENT FINANCE 2015 PROSPECTIVE UK/EU STUDENTS GUIDE TO UNDERGRADUATE STUDENT FINANCE 2015 PROSPECTIVE UK/EU STUDENTS 1 Contents Tuition fees 2 University of Exeter bursaries 3 Maintenance loans and grants 4 Additional financial support 6 Paying back

More information

Help yourself to sort out your debts

Help yourself to sort out your debts Help yourself to sort out your debts You owe money on your credit card, your bank account is overdrawn and you re struggling to pay back a loan what can you do? This leaflet gives you some ideas. For more

More information

debt solutions education financial strategies

debt solutions education financial strategies debt solutions education financial strategies Our Mandate To educate Canadians in personal money management and the wise use of credit To help individuals and families find solutions to their financial

More information

What are student loans?

What are student loans? Student Finance Eligible full-time Higher Education students can take out : Student Loan for Maintenance Student Loan for Fees. Plus Grants are available for fees (Wales) and maintenance What are student

More information

Taking the steps to regain control

Taking the steps to regain control Taking the steps to regain control Congratulations! Just reading this means you are taking the most difficult single step in dealing with debt problems facing them head on and finding out what you can

More information

Student Finance 2016/17

Student Finance 2016/17 Student Finance 2016/17 Tuition fees and tuition fee loans Loans and grants for living costs University bursaries and scholarships Costs of living Loan repayments For students currently living in England.

More information

Business Debtline www.businessdebtline.org 0800 0838 018 BANKRUPTCY

Business Debtline www.businessdebtline.org 0800 0838 018 BANKRUPTCY BUSINESS DEBTLINE Business Debtline www.businessdebtline.org 0800 0838 018 BANKRUPTCY FACT SHEET NO. 10 NORTHERN IRELAND What is bankruptcy? Bankruptcy is a way of dealing with debts that you cannot pay.

More information

Student Finance. Llinos Angharad Williams Schools Liaison Officer

Student Finance. Llinos Angharad Williams Schools Liaison Officer Student Finance Llinos Angharad Williams Schools Liaison Officer Finance Facts Universities can charge anything up to 9000 tuition fees per year on every course Universities can decide what they charge

More information

This topic is about credit. It helps your client understand the different types of credit, credit contracts and their credit files.

This topic is about credit. It helps your client understand the different types of credit, credit contracts and their credit files. Overview 6: Credit This topic is about credit. It helps your client understand the dierent types of credit, credit contracts and their credit files. Section: content for the worker and resources Key messages

More information

MK Money Lifeline. Self-Help Pack. This pack outlines the steps you will need to take to help you deal with your debt problem.

MK Money Lifeline. Self-Help Pack. This pack outlines the steps you will need to take to help you deal with your debt problem. MK Money Lifeline Self-Help Pack This pack outlines the steps you will need to take to help you deal with your debt problem. Once debts start to mount there is a process that you will need to go through

More information

Love and loans. Connie agreed to guarantee a business loan for her son. How does being a guarantor work? How does being a co-borrower work?

Love and loans. Connie agreed to guarantee a business loan for her son. How does being a guarantor work? How does being a co-borrower work? Factsheet August 2011 Has a family member or friend ever asked you to be a co-borrower or to guarantee a loan for them? Before you agree to be a guarantor or co-borrower on a loan, think carefully you

More information

2 If you need extra money, is it better to use credit or savings? Credit Savings A bit of both

2 If you need extra money, is it better to use credit or savings? Credit Savings A bit of both BE YOUR OWN FINANCIAL MANAGER Contents 1 Introduction We are here to help Your credit record 2 If you need extra money, is it better to use credit or savings? Credit Savings A bit of both 3 What will borrowing

More information

Dealing with your mortgage shortfall

Dealing with your mortgage shortfall Dealing with your mortgage shortfall The options available Things to consider Helping you stay on track The Money Advice Service is independent and set up by government to help people make the most of

More information

Keeping your home: home owners

Keeping your home: home owners Keeping your home: home owners What help can I get to pay my mortgage? What should I do if I can t pay my mortgage? Can a lender repossess my home? provided by the Citizens Information Board provided by

More information