Cost of Living

The government announced mortgage payment holidays through a broad Covid support package in 2020. But how do they affect credit ratings and are they worth it?

The latest figures on the use of food banks in Scotland show a disproportionately high need by Scottish residents in terms of population numbers, when compared with any other area of the UK.

Universal Credit is replacing a number of state benefits including Working Tax Credits. It incorporates a childcare element for people in work, regardless of the number of hours they’re working.

If you’ve been made redundant, you may be entitled to receive redundancy pay if you’ve worked for the same employer for two continuous years. The amount you receive depends on your age, length of service, and final wage, but it can be a crucial lifeline during the coming months.

An Attachment of Earnings, or Earnings Arrestment as it is known in Scotland, is part of the ‘diligence’ process available to creditors who have been unable to collect their monies despite obtaining a court order.

We all want to save on our household bills and have more money in our pocket for the fun things in life. While bills are an unavoidable fact of life, here are some ways you can help to reduce them:

One of the most common worries of people in debt is whether they could have their home taken away from them or their possessions sold in order to pay back the money they owe. Unfortunately this is a possibility; however, it is often the final step after a long process of debt recovery by the creditor. If you are currently struggling with debt it is advisable to take action now to prevent this type of more serious action from happening further down the line.

If you’ve lost your job, state benefits and tax credits can provide vital financial support to see you through this tough time and help you avoid taking on too much debt while you look for more work.

The Scottish system of paying for water rates means that you receive notice of the amounts due within your council tax bill, if you don’t have a water meter fitted.

If you’ve lost your job, state benefits and tax credits can provide vital financial support to see you through this tough time and help you avoid taking on too much debt while you look for more work.

Long after the presents have been unwrapped, the Christmas decorations have been packed away, and the last of the turkey has been eaten, the after-effects of overspending at Christmas can last well into the new year.

While being a time of celebration and spending time with those closest to us, Christmas can also end up being an extremely expensive time of year.