Down with Debt a web site which helps consumers deal with debt problems

Regular bills have a habit of turning up when you least expect them or want them, a never ending stream of calls on your income. You never seem to get on top of them.

The ideal is to have loads of money sitting there to pay them as they arrive, but few of us can do that. An increasing number of bills can be paid automatically by your bank using Direct Debits or Standing Orders and whilst this makes it easier relies on funds to there to meet those calls. Missed payments can often mean bank charges which can mount up.

In the same way settling bills by cheque requires money in the account. Remember a Bank Guarantee Card is NOT a facility to get you an extra overdraft, or guarantee to pay bills from an account which is badly managed. Banks can refuse to give you a Bank Guarantee Card or take away one you have.

Timing is the key to settling bills so change any DD or SO payments that risk not being paid to a better time period. Otherwise bank changes and that of the creditor may be punitive. Missed payments can have a knock on result causing OTHER payments to be missed and FURTHER charges applied.

Useful web sites

UK DOMESTIC CHEQUE GUARANTEE CARD SCHEME the UK Domestic Cheque Guarantee Card Scheme www.cardwatch.org.uk

Bank Accounts and Savings Accounts www.creditsmart.co.uk

Information on this web site is provided in good faith, it is not legal advice. Members and visitors to the web site are advised to take professional legal and financial advice before entering into any contractual obligation concerning new financial obligations or debt solutions.

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