My Home Finance, supported by the Department for Work and Pensions, Royal Bank of Scotland and 26 housing associations, has opened 10 branches in the West Midlands as part of a trial to curb the need for loan sharks and doorstep lenders. If sucessful the scheme could be extended to other areas and ultimately nationwide.

Currently around 2.5 million people borrow from doorstep lenders with interest rates of 200% plus. Borrowing from loan sharks, which an estimated 200,000 further people do, can be at rates over 2,000%!

Loan rates for the new organisation will be at 29.9%. This compares with credit card rates, which are considered high, of around 17%. The rate is unlikely to put people off as the scheme is designed for people who would be unlikely or unable to borrow elsewhere.

If the scheme is successful and rolls out nationally the rate could increase to 49.9% to cover costs. This looks likely to be in April next year. 

My Home Finance is also offering help with opening a bank account and debt advice for those that need it. Loans will need to be applied for in person so will only be available to local residents.

The idea seems similar in many ways to that of a Credit Union, who would normally charge interest rates below 15%, serving the local community where the big banks have let people down, leading to an increase in high rate borrowing.

A new website has been launched dealing with a range of debt solutions at Debts 2 Go. Their aim is to make it easy for anyone struggling with debt to get out of debt once and for all. Once out of debt to stay out of debt permanently.

They have a number of products available to assist:

• Debt Management plans
• Debt consolidation loans
• IVAs

The total debt and number of creditors will decide which one is best for you. In other words which debt solution will save you the most money and get you debt free in the shortest amount of time.

All applicants are welcome and Debts 2 Go also offer free debt advice to help you get out of debt and stay out. Their simple online form will literally take you one minute to complete.

Debt problems are urgent because if left untackled the debt will usually grow. Take control of your own life by seeking out a debt solution that will leave you debt free and give you, and your family, a better future.

£1,460 billion - a staggeringly high number but that's the collective level of UK personal debt according to July's figures. Increased cost of living and the continuing effects of the credit crunch are cited as reasons for such a large level of personal debt.

And things are likely to get worse.....with a VAT increase on the horizon and large-scale job losses expected in the public sector following the latest budget. For many people debt problems need to be faced up to now before things get too late.

If you were to lose your job tomorrow how would you cope? Do you have any savings to fall back on to keep you going? If the worst were to happen how long could you keep paying the important bills (mortgage/rent, utilities) before it all gets too much?

Getting your finances in order is never a bad thing to do. Yes it might be difficult to face, particularly if you are struggling, but putting it off will only lead to more problems down the line. Making, and sticking to, a budget that you can afford will lead to a happier future, even if it means cutting back a little in the short term.

For professional debt advice get in touch with IVA Debt Problem who can help you restructure your debts and even write-off a large proportion of them. With their help even people struggling with debts in the tens of thousands of pounds can look forward to a brighter debt-free future.

If you prefer to take out a consolidation loan we can help you with that. Consolidating lots of smaller high-interest debts with a single lower-interest loan will lead to lower monthly repayments, making it easier to manage day-to-day.

A busy day of updating all of our websites with some interesting content, news and technical improvements.

Our debt calculator at IVA Debt Problem has been amended to include debt management, as well as IVAs and debt consolidation loans. Debt management can be your best option to get out of debt problems if you have debts of less than £10,000 or less than 3 creditors. Over this and an IVA tends to be a better option as it enables you to write off a larger portion of your debt.

The car loans blog has been updated with fresh articles relating to car loans, cars and motorsport. We are broadening the website from a dedicated car loan provider website to a more general car website that also provides car loans and finance. We are also looking into providing a car loan comparison service in the near future allowing visitors to compare car loans online and select the best deal for their circumstances.

We have started a new Word Press blog which will be used to deliver up-to-the-minute news and articles relating to our websites. The Word Press platform is actually capable of providing a fully featured website. We will be exploring all of the available features as we get used to it.

The Yes Business Loans blog continues to grow. Business loans are an increasing part of our finance business as banks criteria for acceptance remains very tight making it difficult to get business finance from a high street lender. That's where a broker has the edge, dealing with multiple lenders including specialist business loan providers.

The unsecured loan side of our business continues to attract visitors and applications. We have a number of avenues for unsecured lending giving us a very good chance of success with our unsecured loan apps. Give us a try if you are looking for an unsecured loan.

It is very easy to get lured into taking out new credit cards, store cards, credit agreements etc. and before you know it you have a number of small debts which add up to quite a sum. Often you take them out with the best intentions - making full repayment each month to avoid interest charges.

But it's not always easy to keep up the good work and you slip into making minimum repayments and the debts and monthly interest start to add up. The problem with this type of credit is that it usually attracts the highest interest rates, meaning that charges can quickly escalate.

If you have a number of small, high interest rate debts you could consider an unsecured debt consolidation loan. This is likely to be at a much lower interest rate and, if you take it out over a few years (say 5 or more) the monthly repayment should be much lower than servicing your existing debt.

Make sure you cancel and cut up all of your non-essential cards once they have been paid off to avoid future temptation. You could take a little extra cash with your consolidation loan which you can spend as you please.

For people with bigger debt problems there are other options which may be more appropriate such as an IVA or debt management. Our dedicated debt website, IVA Debt Problem, can help you with free debt advice and guide you down the right path.

We have updated the unsecured loans blog section of our website. It has been redesigned to match the look and feel of the rest of the website. This means that you should be able to get to any other page with just one click.

We are also updating a number of other sites, particularly in relation to our blogs. Some of these include:

• IVA Debt Problem Blog
• Yes Business Loans Blog
• Car Loans Blog

Blogging allows us to quickly update our sites with special offers, news and views. It means we can react quickly to changing interest rates, new lenders coming on board, new products coming out etc.

Despite historically low interest base rates the cost of unsecured loans has risen considerably. The average rate charged has increased by around 50% over the past 3 years. During the same period the Bank of England base rate has reduced from over 5% to just 0.5%.

A number of lenders have withdrawn from the market and there are a significantly reduced number of loan products available. Lenders have suffered from high arrears and default rates making their risk increase and pushing up their interest rate.

This shows the need for customers looking for unsecured loans to shop around and not to take up the first loan they are offered, particularly from their own bank or building society. Getting a range of quotes makes sense and will certainly save you money in the long run with reduced monthly repayments.

Before signing up for an unsecured loan with another provider give Unsecured Credit a chance to quote you a better monthly repayment. We cannot always beat your existing deal, but if we fail to offer you a cheaper alternative you have the peace of mind that your deal is a good one.

On the subject of interest rates, the OFT are cracking down on loan sharks and the exorbitant rates that they charge. Their new campaign targets households in areas where loan sharking is prevalent. Taking out a loan with an illegal money lender is never a sensible option and not only brings with it large bills for repayment but the possibility of violence and intimidation in the event of problems.

Taking out such a loan could lead to debt problems and often causes the household borrowing the money untold problems. Up to 165,000 households are thought to be in the grip of loan sharks currently.

If you are currently experiencing problems with loan sharks you can report them to the OFT by emailing reportaloanshark@stoploansharks.gov.uk, calling 0300 5552222 or texting "loan shark" and the details to 60003.

With the recent election in the UK delivering a hung parliament, and now a right-left Con-Lib coalition, there is a lot of uncertainty about the direction in which the country is headed. The forthcoming emergency budget is unlikely to deliver much good news for anyone with likely tax rises and spending cuts.

On an indivdual level there is little you can do about government financial policy. However, you do have control over your own finances and now would be a good time to review them and get yourself on a good footing so that you can better cope with any financial bad news.

It is very likely that you know how much you earn each month, but do you know how much you spend and where the money is being spent? A good start to a financial review is to get out your past few months bank statements and analyze the transactions.

One-off fixed monthly transactions, such as a mortgage or rent, are easy to spot and keep track of. Other spending areas, such as grocery shopping, which occur several times a month and tend to be different amounts each time, might surprise you when you add up your total spend.

Breakdown each statement for the last 3 months (or 6 months if you have the time) and see where your money is going. Are there any obvious areas in which you could cut back and start saving money?

Think about whether you can impose (and stick to) a monthly budget for items such as shopping. If your monthly spend for shopping is working out at £325 per month, can you work within a budget of £300? Even if you cannot always stay within your monthly budget if you have a figure in mind to aim for it is likely you will start spending less.

You might even find transactions you didn't realise you were paying! Many people who do not check their statements each month don't spot rogue payments and can end up paying them for months.

Once you know exactly how much you are earning and spending hopefully the former exceeds the latter. If not you are likely to be on the slipper slope towards debt problems and all of the misery this can entail. If this is the case seek professional debt help as soon as possible before things get too bad.

If both figures are similar then cutting back a little on your spending will give you a little breathing space, or an opportunity to save/invest for the future.

If you find that you are paying out for lots of high interest borrowing, such as on credit cards, you can either change your card for a low interest one (or low interest balance transfer deal) or think about a debt consolidation loan.

Taking control of your finances will give you peace of mind and make planning for your future easier and more affordable.

With the mortgage market contracting so sharply following the banking crisis, many people are finding it difficult to get a mortgage. Even those who have had no problems in the past and are good credit risks are not finding it easy to source a mortgage from traditional lenders.

If you have had a mortgage refused, your best option is to seek out a mortgage broker who has more flexibility than a direct lender such as a bank or building society. This is because mortgage brokers deals with a number of lenders, each of whom offers different terms and will accept different applicants.

A good mortgage broker will keep abreast of all of the latest mortgage deals and should know quickly whether there is a lender who will accommodate your particular circumstances. This means you do not have to waste time filling in application forms when there is no chance of acceptance.

Mortgage brokers can deal with "high street" lenders, looking for clean risks, and also lesser-known companies who specialise in helping those with credit problems, difficult circumstances and those turned down elsewhere. This means that no matter what your circumstances they should be able to find you a good mortgage deal.

One such mortgage broker is Handmade Mortgages. They offer a full range of mortgages including:

• Fixed rate
• Variable rate
• Flexible mortgages
• Buy to let
• First time buyer
• Debt problem mortgages

Buying a house is stressful enough as it is. Handmade Mortgages make it as stress-free as possible to obtain a suitable mortgage quickly and easily. They will always treat you as an individual, not a number, and their friendly staff are on hand to dispense help and advice when it is needed.

Mortgage quotes are free and without obligation so there is no excuse not to give them a try and see what they can offer you.

Whilst demand for unsecured loans remains popular, one area in which there has been a decline in requests is debt consolidation. It appears that many people facing debt problems are finding other solutions rather than taking out another loan.

The opportunity to write off up to 70% of debt with a debt management program or IVA is becoming more popular as the many consumers with debt problems seek to get back on track.

However debt consolidation loans still have their place and can be a very effective means of helping people with debt problems. If you have a number of debts on credit cards with high interest rates, for instance, it is very likely your monthly repayments are high. If you are only making the minimum monthly repayments specified by the credit card company it is going to take you an awfully long time to clear your debt, and it will be near impossible if you continue to use your card.

In these circumstances a debt consolidation loan could be the answer. By consolidating your debts with a long-term loan you are likely to be paying a much lower rate of interest. The monthly repayments on the loan will be substantially lower than you are currently paying to service your debt. It may even be possible to take out a loan for a higher figure, to cover your debts and give you a little extra money to spend.

Providing you are able to meet the monthly repayments your debt is effectively cleared and you can make a fresh start. It is very important to make sure you get your finances in order having cleared your debts. Identify where savings can be made and work out a budget that means your outgoings don't exceed your incomings.

At Unsecured Credit we can offer you an unsecured debt consolidation loan. Taking into account your circumstances we look at a variety of lenders offering unsecured loans and find the best deal.

We have access to a mixture of traditional lenders and non-status lenders meaning that we should be able to find you a deal no matter what your circumstances. Getting a quote is quick and easy, free of charge and without obligation. Just give us a call or complete our online enquiry form.

Credit problems affect a large number of people in the UK. This figure is set to rise as the recession bites and more and more people are driven into credit and debt problems.

When lenders assess your suitability for a loan they will always want to know about your past credit history. If you have had problems in the past this could result in two outcomes:

1. You are refused a loan
2. The loan is granted at a much higher rate of interest or with other strings attached

Approaching a mainstream lender, such as a high street bank, is usually a bad idea in these circumstances as they have little flexibility and are unlikely to consider any circumstances outside of their narrow underwriting criteria.

With our bad credit unsecured loans we have much greater scope to help you as we deal with many different loan companies, some of which are specialist in helping people with credit problems.

Plus we have many years experience of assisting people just like you - whatever your circumstances or problem it is highly likely we have seen it all before. We do not make judgements about people, we just want to get them unsecured credit wherever possible.

Applying is easy - give us a call or complete our online unsecured loans enquiry form. There is no obligation to proceed if we cannot offer you a good deal. We look forward to hearing from you and to helping you.

If your problems are more debt related, and you are looking at options to get out of debt, please visit our associated site, IVA Debt Problem to see which course of action is best for you.

The government has announced new legislation aimed at tackling credit card debt. There are several measures which will be welcomed by consumers:

1. An end to adverse order of payments
2. More control over credit limits for individuals
3. Easier comparison of credit card deals
4. Clearer information on increased interest rates/credit limits

The "adverse order of payments" is the way credit card companies apply repayments to the portion of the debt attracting the lowest interest rate in order to maximise the interest they receive from the higher interest rates. For instance, if you transfer a balance to a new card with a 0% interest rate and then start shopping with an interest rate of 10.9% on every purchase if you make the minimum payment each month it will be used to pay off the 0% debt first with interest continuing at 10.9% on your purchases. The new legislation will require payments to be apportioned to the highest rate of interest first, thus minimising the amount of interest accruing each month.

Credit card companies will no longer be able to increase credit limits without prior customer approval. Customers will have the right to reject credit limit increases and reduce their credit limits when they want. They will also have clearer information provided regarding increases in interest rates, and annual statements allowing them to compare credit cards more easily.

The legislation has been agreed with credit card companies and will likely be fully implemented by the end of 2010. In the meantime if you are struggling with credit card debt, or any type of debt, you need to tackle it sooner rather than later.

IVA Debt Problem can guide you through all of your options and help you find the best way forward. Their debt solutions offer you the most effective ways of reducing your debts and getting back on your feet.

Information is available on debt management, debt consolidation, IVAs and more. There is a handy debt helpline to call if you would like to discuss your options, and an easy to complete online enquiry form.

IMPORTANT: If you are struggling with debt don't bury your head in the sand and hope it will go away or sort itself out. It won't and avoiding the subject will only lead to more debt and more problems. Get debt help and advice as soon as you can.

Many people are struggling with debt problems in these difficult times. It is estimated that the number could be 1 in every 4, around 25%, finding it difficult to keep up with repayments and keep their heads above water.

A newly relaunched website, IVA Debt Problem, could help many write off a proportion of their debts or alternatively consolidate their debts into an easier to manage monthly payment.

Specifically aimed at people with debt problems it offers a number of different solutions and a debt helpline for you to contact them and discuss your current circumstances. The three main options are:

• Debt Management
• Debt Consolidation
• IVAs (Individual Voluntary Arrangements)

It's free of charge to contact them and see what they can offer and how they could help you. All enquiries are welcome, no matter how bad things may seem. There is no limit to the amount of debt or number of creditors you currently have.

IMPORTANT - if you are currently struggling with debt problems don't leave it too late. Putting off dealing with your debts will inevitably leave you owing more and make the situation worse. Get debt help as soon as you can and get your life back on track.

For more information visit the IVA Debt Problem website and see how they can help you with your debt problems.