You’ve closed your mortgage account with your bank and suddenly you get a bill for Mortgage Exit Administration Fees (MEAFs). Nobody wants a bad credit report, so you pay the fee. Sometimes these fees can be quite large and banks are actually supposed to give a refund, but, like many businesses, if you don’t ask you won’t get your money back. Costs were especially high in 2007 when the Financial Services Authority (FSA) got involved. When banks were unable to validate the increased fees, the FSA decided that refunds must be made available.
Keeping track of how you use your mobile contract can be daunting. Many of us, scared of going over our allocated bundles, keep phone calls to a minimum, leaving a large chunk of our tariff unused; while others consistently exceed our data or minutes allowance and would benefit from going on a more comprehensive tariff to save money overall.
At a time when many of us are committing to longer contracts, one of the easiest ways to quickly save some pennies is by making sure we are on the right mobile contract from the beginning and using our bundles effectively.
One way to work out what kind of user you are, gain control of your tariff and save some money is by paying a visit to billmonitor.com, a mobile comparison site that is currently offering free access to a new unique mobile service called Bill Check-up. By analysing your bills every month, Bill Check-up helps you to save money and ensures you get the most from your existing mobile contract.
Created by Oxford mathematicians and accredited by Ofcom since 2009, billmonitor.com started as a free to use mobile price comparison site. It analyses your online bills to find out exactly how you use your mobile phone, evaluates all the contract deals in the market and then matches you to the right contract so you pay no more than you should. A massive 76% of the UK is on the wrong contract and billmonitor has already helped thousands of customers switch to the right contract for them.
billmonitor.com has now extended the service to include ‘Bill Check-up’ to help people get the best value throughout the lifetime of their mobile contract, not just when they get a new contract. Bill Check-up:
- Lets you know whether you’re under-using or over-using your mobile phone contract for minutes, text, and data. It gives advice on how to make the most of your allowances and optimise your current tariff so that you can save money
- Advises on roaming/international/other bundles as needed, based on usage data
- Provides a reminder of how long you have left on your current contract. When you reach 5 or less months to go, billmonitor will match you to alternative contracts suited to your individual usage pattern
So if you are either locked into a long contract and want to know how you can make the most of it, or are shopping around for a better tariff for your needs, pay a visit to the website. In terms of saving money, using billmonitor could be one of the biggest favours you do for yourself – it’s an easy way to get the insight you need to help you spend more wisely on your mobile.
The 1991 taxing system saw the council rushing to put a value on houses across England, Wales and Scotland. In their rush to value the houses, the council placed houses in various council tax bands by simply looking at the house. This, however, saw some house owners paying council tax outside the actual council tax band. It is for this reason that you may ask yourself, is it possible to lower my council tax band? The answer to this question is yes.
At one point or another, nearly everyone is faced with the task of sending money overseas to someone for any number of reasons. Whether you’re sending to a relative in need or having a friend purchase something for you unavailable where you live, sending money is sometimes unavoidable. However, the prospect of paying high fees can be a turn-off for some. Luckily, there are ways you can do to reduce, or in some cases even eliminate, the fees associated with tranferring money for any reason.
Bankruptcy is a legal designation ordered by a court of law whereby a person or a company who is not able to pay back debts owed to creditors has their financial obligations wiped clean after the liquidation of any assets they may own.
While this seems like a simple way to deal with financial problems, going through a bankruptcy should always be a last resort, as the complications of the process far outweigh any short term relief from outstanding debts. Years of financial problems associated with a bankruptcy could be avoided by taking some proactive steps to pay down your debts and keep your credit rating intact.
First, start by making a budget. You need to determine where your money is going, so you are able to utilize what income you have to your advantage. This is where you figure out just how much you can spend versus what you need to provide to your creditors to cover your debts. Once you have a better idea of how much money you have to work with, you need to put the brakes on any unnecessary expenditures which could be eliminated from your budget. This is also the time to stop using your credit cards and eliminate adding any additional debt on to what credit you may have left.
Once you have a better picture of your current financial obligations, contact your creditors and attempt to work out a different payment plan which can help you avoid getting further into debt. Oftentimes, credit card companies, student loan providers and mortgage companies are willing to work with you in times of a financial crisis if you are having difficulty in meeting your obligations. The key here is to do this as soon as possible before you get too far behind and your debts are turned over to a collection agency. Communicating with your creditors when you have a problem can often times result in a loan forbearance which can assist you in getting back on your feet financially.
Sometimes in cases where your monthly income is not enough to support current living expenses and debt obligations, you may want to consider a consultation with a debt reduction agency, who can assist you in negotiating with your creditors and combining all of your monthly debts into one payment. While this may give you additional breathing room, there is a price in the form of more accumulated interest and service fees associated with using a credit counseling service.
Whatever path you decide to take in order to tackle personal debt, avoiding the trap of bankruptcy is your best bet to keeping your hard earned credit rating and giving you financial freedom.
Most people who are in debt often wonder if they should spend their extra money getting out of debt or saving up for emergencies. The truth is that there’s no straightforward answer – it completely depends on your situation. There are advantages and disadvantages to either approach, and it’s best to know these first before you decide.