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What are Joint Debts?

What are Joint Debts?

Borrowing money or getting into a financial agreement jointly with someone is referred to as joint debts. It can be taken by partners or by any two people under credit or loan agreements. Joint loans, credit agreements and joint accounts are some of the types of joint debts. Once you took out a loan or … Read more

Government Debts and Debts to Local Authorities

Debts to Government Departments and Local Authorities

Debts to HMRC are debts that you owed to the government and local authorities. Once you have arrears on these priority bills, you must deal with it the soonest you can to prevent severe consequences. These government debts are as follows: Tax debts Child maintenance Benefit overpayments Council tax These are treated as priority debts … Read more

Consumer Credit Debt and Borrowing

Consumer Credit Debt and Borrowing

Almost all types of consumer debts in the UK are regulated by the Consumer Credit Act of 1974. The Bill includes your rights when you obtain credit or borrow. It entails the guidelines on how debts are collected and how payments are being protected from unlawful lending or debt collection. Consumer Credit Defined Consumer credit … Read more