Five ways to buy your Christmas shopping for less

Oh I know I know, it’s here again already. If you feel like last Christmas has only just been and gone then you’re not the only one. The years are flying by, and you know why? It’s because we’re all getting old! If there are any readers still remaining after this light, breezy and optimistic intro, then let’s reward you for trudging on with some fail safe tips to save money on your Christmas shopping this year.  

Shop around for the best deals

This is age old advice but it still applies. The internet has made it so much easier to compare prices from a wide range of retailers in just a few minutes, so you really would be daft not to shop around. Many people prefer to buy their Christmas shopping in store, which is fine, but before you go carry out some research online, as this will save you traipsing from one end of town to the other checking prices. 

This winter there seems to be some good deals on the traditional Christmas ever-presents. If you’re in search of some toiletries then the Bodyshop is running a good deal at the moment which allows you to save £5 when you spend £15, £10 when you spend £25 and £25 when spending £50. 

If you’re looking to compare prices online then MegaShopBot.com will help you find the lowest price online in just a minute or so, comparing prices for common gifts such as DVDs, CDs, books and electrical items.

Eyes peeled for voucher codes

Voucher codes have been one of the better innovations of the last five years, allowing consumers save on everyday items and affording retailers, event days and restaurants the opportunity to create additional demand for their products. Two of the best voucher code websites are MyVoucherCodes and VoucherCodes.co.uk. They also act as an excellent source of inspiration if you are yet to decide on the perfect gift for that special someone. 

Use a cashback credit card

You’re not going to save massive amounts of money using a cashback credit card, but it’s money for nothing, so you might as well take advantage. Typically you might receive 5% cashback on your purchases, so if you spend £100 you’ll receive £5 back. £5 may not seem like a lot but it’ll buy you a half decent bottle of wine, and it’s on your bank, so why wouldn’t you make the most of it? 

The majority of cashback cards offer the best rates during the first three months of use, usually in the region of 5%, before falling to 2.5% once this period has experienced. So if you don’t have a cashback card yet, it’s well worth signing up for one before Christmas. Also, make sure you check whether annual fees apply to the cards before making your decision.  

The rise of the cashback website

There are plenty of cashback websites in operation which, if you visit a retailer via their site, will return some of the money you spend as credit. Christmas is a great time for deals as this is the time when retailers offer their best deals in a bid to get a healthy slice of the Christmas market.     

Get handy

Some of us have been gifted with absolutely no craft skills whatsoever, so if you are lucky enough to be good with your hands, you should make sure you use them. Save money by making your own cards. Photobooks are an excellent method of investing time rather than money into presents, whilst still giving a gift which will be valued and treasured. Alternatively, you might be a dab hand in the kitchen, in which case, why not get your bake on? 

Author: Trust Deed Forum is a trusted debtadvice resource for those struggling with debt. Pose questions anonymously to debt experts or learn from the experiences of others who have found themselves in a similar situation. Visit the website today.    

Finding trustworthy sources of free debt help

If you’re struggling to make ends meet and have reached a point where scrimping and saving is simply not enough, you should seek professional debt advice as quickly as you can, as everyday you delay will only make your situation worse. But where can you find free debt help which you can trust to provide you with the impartial and expert advice you need?

Be wary of commercial companies masquerading as charities

There are some less than scrupulous commercial companies who masquerade as debt charities by choosing misleading business names. If you contact such a company believing them to be a debt charity, then as soon as a price for their services is mentioned, alarm bells should start ringing. A charity will never charge you for their services.

Citizens Advice

The Citizens Advice service provides assistance to people who are experiencing issues with monetary and legal matters amongst others. The service was set up to provide free, independent, confidential and impartial advice to individuals as well as to improve the policies and practices that affect people’s lives. 

There are Citizens Advice bureaus all over the country if you wish to discuss your debt problems in person. Alternatively, they also provide a telephone, online or face-to-face service, so you can find the most appropriate service to suit you.

The StepChange Debt Charity

The StepChange Debt Charity is a registered charity which means all the advice provided is free. If you would prefer to talk about your debt problems anonymously over the phone rather than in person, StepChange can provide you with information and assistance you need. Not only do they offer fee-free debt management plans, they can also provide information which relates specifically to bankruptcy, IVAs, debt relief orders, bailiffs, charging orders, money management, mortgages and equity release.   

They also provide a handy free online service, which allows you to create a detailed budget so you can get to grips with the precise reality of your financial status. Once your budget is complete you will be provided with a tailored recommendation to meet your particular circumstances. This service is completely free and you will not have to give your name.      

National Debtline

The National Debtline provides an invaluable service to individuals in England, Wales and Scotland facing debt problems. Their experienced advisors will provide you with free, confidential and independent advice over the phone or via email. They can advise you as to the most suitable debt solution for your specific financial circumstances as well as providing budgeting and mortgage advice.

If you’re looking for expert Debt Help, Scotland based Trust Deed Forum will provide you with the professional advice you need. They have an extensive forum where you can pose questions to their in-house experts as well as learning from the experiences of individuals who have found themselves in a similar position.   

The Financial Ombudsman and Trust Deeds

This month in the Financial Ombudsman Service (FOS) newsletter you will discover tonnes of information regarding complaints made about debt collection services, creditors and debt advisory services. You can read all about complaints relating to trust deed advice Scotland and the role FOS has in this in the following article...

Trust deed and debt advice Scotland services do not seem to be causing a lot of financial complaints to the Financial Ombudsman Service. In the prior quarter 101 complaints were submitted about "debt adjusting" services (this is the name that FOS places debt advice Scotland services under). Trust deed and debt advice Scotland complaints are liable to make up just a small portion of these complaints. Here are some more interesting statistics from the same quarter:

-30301 PPI complaints
-4032 credit card complaints
-3421 current account complaints
-1566 overdraft and loan complaints

The stats however might not be completely representative. Complaints relating to trust deeds are no longer handled by FOS the minute they are signed. Trust deed advice providers are regulated by FOS, but after a trust deed is entered the complaints are dealt with by the insolvency regulator of the specific Trustee. FOS do monitor and deal with complaints regarding debt advice services because such providers have to have a consumer credit licence.

Each year lots of debtors start a trust deed after taking some time talking with a debt management company. Often a trust deed is a swifter road to handling debts. The FOS newsletter includes two examples of complaints about debt management companies. In this article we'll talk you through these examples to illustrate complaints relating to debt management companies.

The first example related to a complainant who complained that his debt management company hadn't removed his debts. During the FOS investigation of the complaint it was shown that the debt management service had been completely clear and honest with the complainant. At no point had they told lies, hidden fees or told him that they would write off his debts. Actually they had strived hard for the complainant to cement arrangements with creditors. The complaint was rejected because of the dependable record keeping and good practices of the service involved. If the complainant tried a different debt management scheme, perhaps a trust deed, he may have been in a position to write off some of his debt - an excellent debt advice service would have told him of this.

A complainant who claimed she had been told that her debts would be written off is at the crux of the next complaint. She patently had not been informed that the debt management service she was working with could not do this. It was shown that the service's brochure incorrectly created the impression that they could write off your debts and FOS upheld the complaint. The client's fees were returned. This is a very good illustration of the point that if a debt advice Scotland service seems too good to be true - it probably is.

If you have a complaint in relation to the way a trust deed is being dealt with FOS is probably not the most helpful body to complain to. The first step is to try to sort things out with your trust deed firm. If this is impossible you should then take your problem to the right professional body. If your complaint is related to advice you have been given, FOS might be the best place to submit your complaint, as soon as your trust deed has been started, the issue is out of their hands.

For professional debt advice Scotland facts visit the Trust-Deed.co.uk online forum. In particular the featured experts from a panel of trust deed firms are ready and able to give visitors the highest quality of info and advice in answer to their debt advice Scotland enquiries.

Debt Management and Scottish Debt: What The Statistics Mean

If you compare and contrast them, debt solutions in the majority of the UK aren't as good as the solutions that have been put in place in Scotland. Despite the fact that politicians should be applauded for giving Scottish citizens a helpful range of problem-debt resolution methods, insolvency figures in Scotland are two times that recorded in the rest of the UK.

A Scottish trust deed generally lasts for a period of three years; in other regions of the United Kingdom the broadly-equivalent IVA debt strategy tends to last around five years. Scottish residents also have far better access to sequestration and bankruptcy than their other UK counterparts. In all other regions of the UK the type of outcome enabled by a Certificate of Sequestration in Scotland costs £700, meanwhile, in Scotland, it is a mere £100, rendering it easier for Scotch debtors to escape their unfeasible debts. Policy makers in Scotland look to have developed and maintained a system of debt solutions for Scottish people that stands up impressively well against the schemes in the rest of the UK.

At the same time the quantity of debtors applying for sequestration or a protected trust deed in Scotland has increased whilst insolvency in different regions of the United Kingdom is reducing. The most recent set of data included the 2nd highest quantity of Scots going into a protected trust deed ever. Are Scottish or UK government officials to blame for Scotland facing personal debt issues on a level not recorded elsewhere in the UK? Wouldn't debt-related efforts be better concentrating on prevention rather than cure?

Yet blaming the Scottish government for taking on the 'wrong end' of debt isn't fair. In actuality Scotland has lower quantities of average debt than most areas of the United Kingdom (excluding Wales). This means that there is not more debt, but there are more residents equipped to handle the debt that they actually have.

Regularly, unemployment is seen as a central factor in debt problems, is this the root of Scotland's high use of trust deeds? Possibly not. This is because:

-There is minimal difference between UK unemployment figures and those for Scotland
-The United Kingdom in general and Scotland on its own have very similar hourly pay rates
-Mortgages and property expenses are equally not to blame, they are far lower in Scotland

So why are protected trust deed and debt arrangement scheme numbers on the rise? It would appear the economic situation in Scotland, for which politicians are also responsible, is not disproportionately organised to drag Scottish people into debt compared to other regions of the United Kingdom. Who, or what, is creating the issue?

Thousands upon thousands of people in the rest of the United Kingdom are thought to be in debt management plans for which no reliable stats are reported. Would these people have used a protected trust deed with a three year term when a five year IVA just felt too long? Have debtors north of the border been helped to get on with sequestration because a £100 charge is feasible whilst a £700 cost cannot be saved up? Are residents in Scotland opting for the (measured and reported) debt arrangement scheme as opposed to an 'English' DMP that brings few of the positives of the Scottish DAS?

At this juncture, the most plausible answer isn't that Scotland is being hit by a worse insolvency problem, but that Scotland is much better at dealing with the situation directly than the rest of the UK. It is plausible that more debtors would make use of debt management solutions in the United Kingdom if they were more accessible.

Dealing With Personal Debt in Scotland

One particular debt solution, the trust deed, has been marketed especially heavily in Scotland. Debt and trust deed advisers often hear from clients who simply wish to know whether or not they qualify for a trust deed. In reality a whole range of debt solutions are available to fit differing circumstances and needs.

Most people will have heard of a debt management plan however, comparatively few people are aware of the Debt Arrangement Scheme. The Debt Arrangement Scheme (DAS) is a more formal debt management plan which conveys benefits to the debtor that cannot be afforded by a debt management plan.

The Debt Arrangement Scheme prevents unsecured creditors from taking legal action provided that the debtor maintains their side of the agreement.  A Debt Arrangement Scheme client can therefore carry on meeting their obligations free from this legal worry, just like a trust deed.

A debt management plan also cannot guarantee that interest charges will be suspended or reduced. The Debt Arrangement Scheme, like a trust deed, ensures that interest on the relevant unsecured debts ceases once it is up and running.

A Debt Arrangement Scheme or a trust deed relies upon the debtor being able to commit to making regular contributions towards their debts. Due to inflation, wage stagnation and increased levels of joblessness this isn’t possible for everyone. This can cause sequestration (bankruptcy).

For some time a significant group of people in Scotland who could not afford their debts had no access to sequestration. This was because unless legal action had taken place, a creditor initiated legal action, a trust deed failed or the debtor met certain criteria, there simply was no route to bankruptcy.

Nowadays an approved person can issue a Certificate for Sequestration after they have confirmed with a debtor that they have neither the surplus income nor the assets to be able to repay their debts.

Where a debtor considers that they may have some disposable income they may be able to approach an Insolvency Practitioner (the professionals that take trust deed appointments) for the issue of the Certificate for Sequestration with a view to that IP then taking the bankruptcy appointment. The IP fees for the bankruptcy services would then be drawn from the contributions made.

If the debtor is sure that they will not have any surplus income for bankruptcy contributions they may approach a Money Adviser at their local CAB or Local Authority for the issue of the Certificate for Sequestration and then apply to the Accountant in Bankruptcy for the sequestration itself.

Of course, this extended range of options is confusing for people who are already worried enough about how they’ll pay for their essentials and bills in the coming weeks and months. A professionally qualified debt adviser will be able to work through your circumstances with you. They may suggest a trust deed, a Debt Arrangement Scheme or a debt management plan.

The Trust Deed Forum (http://www.trust-deed.co.uk/) is a debt help resource for residents of Scotland. As well as including an excellent trust deed forum, there are plentiful resources dedicated to the various debt solutions available in Scotland including a trust deed, the Debt Arrangement Scheme or bankruptcy via the Certificate for Sequestration. The website employs the services of four professionally qualified debt advisers that are available to enquirers.