Apr
27
27/04/2010
Borrowers will now be offered greater protection regarding credit cards and credit card debts, including changes that affect monthly repayment amounts and the ability to reject interest rate changes. With these changes, credit card holders will enjoy greater protections in regards to spiraling debt, although these changes are a watered down version of the originally proposed protections. Some of the more significant protections include having 60 days to reject interest rate changes on existing debts and being able to opt out of credit limit increases. Additionally, new accounts will be governed under a new rule that states that monthly repayments should cover fees and charges, interest and 1% of the amount spent at minimum.
If you are struggling to remortgage or sell your house and are facing difficulty in paying your monthly bills, you may want to consider the assistance of a sell and rent back company. Working with a sell to rent back company can assist you in paying off your debts by selling your home quickly for cash and staying there as a tenant if you choose to sell to rent back. Property Rescue is one such sell, rent back company and can work with you to exchange in just 48 hours. By choosing sell and rent back, you can also avoid valuation and estate agency fees. Sell to rent back companies specialize in assisting people to sell home fast with sell, rent back options that can help you stay financially afloat.