In today’s society we all need a bank account. They are used for the basics, such as buying food, paying bills and making online payments. Without a bank account we are lost in society. For most people in the UK our wages are paid into a bank account by our employers on a PAYE system. Employers prefer The Co-Operative bank has removed their free basic bank account product for people who are undischarged bankrupts. Barclays and the Co-Operative bank were the only two banks to offer a free banking service to people who were undischarged bankrupts. The bank accounts allow […]
Admin or No Admin?
The decision has now come, do I change my name at the registry office from John to Admin or do I change my profile name on Debt Advice Resource… what would be easier? Well, I am fond of the name Admin, however, my partner prefers John. My kids could be confused when people start to call me Admin in the street and undoubtedly I will scar my children emotionally enough as they grow up. I could give them a couple more years. Admin has an authority to it and John is rather “common”. Decisions, Decisions. Changing My Name… This is […]
How Do You Pay The Gas / Electricity Bill?
It’s a question I asked myself frequently when I was in a pit of despair, “how am I going to afford the gas or electricity bill?” There isn’t always an easy answer, as I found. I thought I’d share this socially to see if anybody else had a similar experience of struggling to manage gas and electricity bills while repaying debt. Unemployment Can Be Cold! I experienced a period of unemployment. Well, I call it a period but that’s not exactly quantifiable. It was over a year of unemployment. Prior to losing my job I paid my debts, managed my money […]
Friends & Wedding Debt
I always like to interject a little bit of my current life with my previous debt and money experiences. So, I thought I’d share a conversation with you which I had with a good friend last month. His wedding was two weeks ago and I was the best man. I’m not usually one for public speaking so it was a daunting, tantalising situation which I was eager to complete as quickly as possible. But, overall it was a successful speech with a couple of laughs and some character building stories for the groom. Speaking to my friend last month he said, “This […]
Debt to Friends & Family
Owing money to friends and family is often considered as one of the worst feelings in the world. It’s hard to look someone in the face when you know you owe them money and have yet to repay them. However, thousands of people rely on friends and family every year to survive financially. A recent report from Aviva suggests people in debt are borrowing over £1,500 on average from friends and family to deal with their debt. This has doubled in only 3 months! There are reasons why people may be borrowing money from friends and family, such as the […]
Managing Your Finances
One of the most popular reasons for debt problems is derived from an inability to manage day to day finances. There’s so much going on and life can become too muddled to realise there is a problem. However, managing your finances and staying in the black with your bank is essential for a balanced, healthy life. Are you often overdrawn in your bank account? Well we’ve created some helpful tips and discuss whether you’re getting the most from your bank account. Tips to Avoid Going into the Red If you’re perpetually going into your unauthorised overdraft and being charged exuberant amounts in charges from […]
Debt & “The Final Straw”
Debt doesn’t just happen. It grows over time and from the simplest of credit applications, you’re thrust into the adult consumer credit world. A credit card is a licence to spend and repay later. I’m surprised credit companies have not used the tagline “Enjoy now, life’s too short”. But becoming debt free isn’t as quick or easy as borrowing the money. There are a variety of stages that people go through before they are able to admit their problem is severe. The final straw is something everybody with serious debt problems experiences and they will remember it vividly. From friends […]
Debt Advice Resource Day 1
It’s day one of the Yakezie challenge. I’ll be writing about my experiences of personal finance and debt through my own eyes. There are plenty reasons to write this blog but this idea has been done before, so why bother? Sometimes, in life, powers are out with your control and all that is left is your word. I promised that should I resolve my financial problem I would indeed share my experience and knowledge with other people. I had great support during some difficult periods. Others are not as lucky. I hope this can be a resource and support for […]
Yakezie Challenge
OK, so i’ve created my blog / website and i’m going to share information about bankruptcy and being in debt. I’m ready to start. I’m focussed and eager to get underway. Then, I realise, what’s the point if nobody can read the information. What if nobody finds my information and I’m unable to even help one person. It would be a waste. The Yakezie Network I’ve read lots of blogs over the past few years, especially during the period of going bankrupt and when I was in search of useful information. Within the blogs I read I constantly saw the […]
Welcome
Debt Advice Resource is an independent, impartial and completely free resource for people in debt. We don’t make money from advertising or affiliate links. We simply aim to share our findings, musing and questions we have about the debt and finance industry. We don’t have all the answers but together we may be able to pose some interesting questions, while at the same time, guiding people currently struggling with debt to appropriate debt charities like the Citizens Advice Bureau. The main problem is people don’t know where to start when they are in debt. Often people don’t share their fears […]
