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Page last updated at 15:02 GMT, Friday, 21 January 2011

Managing borrowing and debt

Credit card being cut up
BBC Radio 4's Money Box Live
Wednesday, 26 January 2011 at 1502 GMT on Radio 4 and Online

Falling income coupled with increasing living costs and Christmas spending is putting pressure on many household budgets.

The housing charity Shelter say over two million people have resorted to using credit cards to pay their mortgage or rent in the last year and is urging people who are struggling to pay bills to seek help.

If your debt or spending is on credit or store cards you may benefit from new rules designed to help you pay off your debt more quickly.

And if you live in Scotland the Homeowner and Debtor protection Act is is bringing greater protection for those at risk of repossession and creating a new route into bankruptcy.

What are the cheapest credit cards or loans?

Could you switch to a cheaper deal?

Can you pay back loans early and avoid the interest?

If you want to withdraw from a loan how much time do you have?

What should you do if you are falling behind with credit cards, bills or mortgage payments?

How do you prioritise debt and where can you find free, impartial advice?

Or perhaps you are facing insolvency or bankruptcy - what are the options?

Paul Lewis was joined by:

Lynne Jones, National Debtline

Liz McVey, Consumer Credit Counselling Service Scotland

Michelle Slade, Moneyfacts

Presenter: Paul Lewis
Producer: Diane Richardson



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SEE ALSO
Links and helplines
25 Jan 11 |  Moneybox
Debt 'causing' rise in depression
26 Jan 11 |  England
Women debt pressures highlighted
24 Jan 11 |  Northern Ireland
Women 'keener to seek debt help'
19 Jan 11 |  Business
Rising borrowing costs predicted
17 Jan 11 |  Business
Borrowers face higher rate shock
07 Jan 11 |  Business
Warning over bills paid on credit
07 Jan 11 |  Business
Credit card users double-charged
05 Jan 11 |  Business
New leniency for credit card debt
29 Dec 10 |  Business
UK households 'still stretched'
25 Dec 10 |  Business
MBNA debt dealings 'must improve'
14 Dec 10 |  Business
Demand for borrowing remains low
29 Oct 10 |  Business
5,000 hit by fraud on loan firm
23 Oct 10 |  Business
MSPs back repossession protection
11 Feb 10 |  Scotland

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