Featured stories

What is a Debt Relief Order (DRO)?
6 April 2009
A Debt Relief Order (DRO) is a form of insolvency which is designed to help people who have relatively low debt, little surplus income and few valuable assets - and who have no realistic chance of paying off their debts within a reasonable time. ... >>

Debt advice & tracker mortgages
25 February 2009
For anyone with a tracker mortgage, the last three months have been an exciting time. Whatever else is happening to their finances, at least they’ve been able to watch their mortgage payments go down, as the Bank of England’s base rate dropped from 4.5% at the start of October 2008 to 1.5% in January 2009. ... >>

Debt management – helping avoid repossession
4 February 2009
Figures from the Council of Mortgage Lenders (CML) suggest that mortgagors around the UK are finding it harder to manage their debts. At the end of June 2008, 1.33% of mortgages were at least three months in arrears. Three months later, this figure had risen to 1.44% – and by the end of 2008, 1.57% (182,600 mortgages) were in this group. ... >>

Debt management and the credit crunch
28 November 2008
Is debt management a realistic option in a today’s economic climate? For people in debt, a credit crunch can be a worrying time – lenders are worried about lending out more money, which can make certain debt solutions difficult to come by, and often more expensive. ... >>

What does debt help mean?
24 November 2008
A lot of ‘debt’ websites (including this one) talk about ‘debt help’, but what does it really mean? Debt help isn’t a specific kind of debt solution. It means what it says: help with your debts. ... >>

Two out of three worried about the next 12 months
6 August 2008
Who needs debt advice? A Populus poll for The Times indicates that the answer could be ‘More and more people’ – it seems that today’s economic problems have seriously damaged our hopes for the coming months. ... >>

Know your enemy - and the enemy is debt
29 July 2008
From battlegrounds to boardrooms, ‘Know your enemy’ is the golden rule of struggles everywhere. On a personal level, says debt management company Gregory Pennington, it’s just as relevant – most of us don’t engage in deadly combat these days, but overwhelming personal debt makes a fearsome enemy… ... >>

Managing your own debt – what if a creditor refuses an offer?
17 June 2008
Debt management companies like Gregory Pennington offer to help people out of their financial troubles by managing their debt for them. In other words, they’ll handle the paperwork and distribute funds among their unsecured creditors, as well as providing advice. They’ll also talk to their creditors on their behalf, asking them to accept lower payments, freeze interest and / or waive charges: for many people, this is the best thing about a debt management plan. ... >>

Managing debt in a slowing economy
11 June 2008
Managing debt is never easy, but it tends to get harder when the economy slows down. House prices, interest rates, inflation, unemployment – all these national factors (and many more) have a very real impact on our own day-to-day finances. ... >>

Interest rates, inflation – and managing debt
2 June 2008
If people need help managing their debts, why doesn’t the Bank of England (BoE) just slash its base rate? After all, the base rate is what helps financial companies decide how much they’ll charge borrowers and pay savers. So in general, a lower base rate means less profitable savings – but less expensive debts. ... >>

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Gregory Pennington are founder members of DEMSA (Debt Managers Standards Association).

DEMSA are the first trade body within the finance industry to successfully secure approval for its code of practice under the OFT Consumer Codes Approval Scheme (CCAS).