Don't Fret Over Debt

As the credit crunch bites deeper into our country's economy, most companies and businesses are considering every possible way to save money, including laying-off staff or cutting non-essential services.

As people are getting worried about their jobs or mortgages, they are considering every possible way to save money too. We have listed some ways to help you do the same.

• Don't Fret over Debt
  With the current economic gloom worsening, many companies have sprung up offering debt advice for a fee. Many such companies charge hundreds to advice what effectively is debt consolidation - i.e. pay off all your smaller debts into one loan. Many companies are in fact brokers in disguise and earn commission by recommeding a particular lender or product.

Before you part with your hard-earned cash to receive advice from any of these companies, consider using National Debtline, Debt Free Direct or Citizens Advice. They will help you out without making a charge.

• Check out your credit report
  In current climate, it pays to keep a close eye on your credit standing. You can check your credit report for free at Credit Expert.

• Free Cash
  Some banks offer free bonus if you sign up for a new account. For example, all new customers signing up for First Direct’s 1st account receive £100 bonus. The only condition is you must start paying your income of at least £1,500 into this account within three months of opening.

Alliance & Leicester also offers £100 if you open its Premier current account online

• Borrowing
  You can save yourself lots of interest by switching to a 0 per cent credit card. You can even borrow for free in some instances, and with some clever financial planning. You can check out here for latest credit card offers.

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