What is Bankruptcy?

The official definition of bankruptcy is “a legally declared inability or impairment of ability, of an
individual or organization to pay its creditors” – in other words being unable to pay your debts.
Read more…

What is debt management?

Debt management or a debt management plan is a voluntary agreement between you and your
creditors, against most unsecured debts, such as credit cards and unsecured loans.
Read more…

PPI claims

Have you ever taken out loans, credit cards, a mortgage or any other financial loans product? If the answer is YES then you could have been wrongly sold Payment Protection Insurance or PPI,without even knowing it.
Read more…


Money and Our Emotions

Written by admin. Posted in Uncategorized

The US has its debt downgraded, UK inflation suddenly falls, the Eurozone interest rate rises and China’s growth rate stabilises. Ordinary people across the world are faced with a wealth of economic news, but are their decisions on money really governed by emotion?

Money is emotional. Debt sparks worry. A windfall is exciting. And many people dose up on retail therapy, shopping to feel better.

“Ask people what emotions are most frequently associated with money, and this is the rank-ordered list: anxiety, depression, anger, helplessness, happiness, excitement, envy, resentment,” says psychologist Adrian Furnham.

He is co-creator of BBC Lab UK’s new Big Money Test, which explores links between personality and money behaviour. Furnham believes that even financially astute people have bad money habits, and that there are five archetypes for spending behaviour:

• Misers fear becoming penniless and have trouble enjoying the benefits of their money
• Spenders shop in an often uncontrolled manner, particularly when feeling low – and get a short-lived high, often followed by guilt
• Tycoons see money as a route to power and approval, and believe wealth will make them happy
• Bargain hunters feel superior when they get discounts, and feel angry if expected to pay full price
• Gamblers feel exhilarated when taking chances, and find it hard to stop – even when losing – as a win brings a sense of power

Read more about this article…