Bad Credit Interest Only Mortgage

Give money a better home

LETTERS have been dropping through mailboxes all over Scotland in the past month inviting people to move their current account to Royal Bank of Scotland and promising £100 to those who do. Anyone tempted by the RBS offer does not even have to wait for a letter to drop on their mat - they can walk into any branch, sign up to transfer their account and claim the free cash.

RBS is far from alone in its efforts to entice new customers through the door. Bank of Scotland is running a television advertising campaign trumpeting that its current account pays 50 times more interest than its rival. Building society Nationwide is using its PR budget to draw attention to the fact that it does not charge customers for using its debit cards abroad, and Lloyds TSB highlights that it pays interest on money paid into accounts even before the cheque has cleared.

Hypocrisy from the hand-wringing banks

SHORT of a few readies? Why not check out individual voluntary arrangements - the amazing shortcuts that dodge all of those tiresome debts?

As the rush for IVAs washes through the banking system, howls of protest arose last week from the chiefs of most of our big banks that bad debts were rising and hitting their profits.

Certainly, IVAs - supposed to be a tool for entrepreneurs to avoid the stigma and fiscal trammel of bankruptcy - appear to be becoming a 'lifestyle' choice for many who have simply run up tens of thousands of pounds of loans or credit card debt, which they have no hope of repaying.

Last week's quarter-point increase in the base rate to 4.75% will not help.

As Financial Mail and This is Money revealed earlier this year, IVAs have often been encouraged by unscrupulous advisers.

Can Bankruptcy End Your Debt Suffering Once And For All?

EOPLE who file for bankruptcy generally do so after all other options have failed. These are people who have made a good faith effort to repay their debts but see no other way out. If you are honestly trying your best to pay your creditors but just can't, you may be a good candidate for bankruptcy relief. Contrary to what you may have heard, bankruptcy has helped a lot of people get out of debt once and for all, re-establish credit and reorganize their finances. A lot of these people move on to buy a home or start a business (which would have been impossible had they remained in debt). If you are reading this article and just a mention of the word "bankruptcy" is enough to scare you, keep an open mind. By the time you finish reading this article, you will realize that this may be the very thing you need to get out of debt and change your life for the better.

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