Credit Action offers debt management advice

Credit Action has published a free money manual to help lone parents handle their finances more effectively.

The organisation has worked with Gingerbread and Moneybasics.co.uk to produce a booklet to provide advice to this vulnerable group. It includes tips on budgeting, the different types of financial aid that they could be eligible for, as well as urging them to be realistic about their situation and understand what they can and cannot afford.

Chris Tapp, director of Credit Action, said: "The aim of the manual is to suggest different ways of managing money to accommodate different wishes and lifestyles. Sound financial management is never about one size fits all."

Elsewhere, parents struggling to cope were recently advised by Tom Howard, a spokesperson for the Consumer Credit Counselling Service, that debt reduction orders (DRO) are to become less complicated to apply for and the rules around their eligibility are to be slackened.

While a DRO is a drastic step, he noted, it is still less severe than full-blown insolvency.

This article has been published courtesy of countrywide financial services: Debt consolidation solutions

The cost of making phone calls from landlines has increased, one organisation has said, which could affect those struggling with debt management.

A quarter of Britons are worried about the possibility of a rise in the base rate, according to one study, which could negatively affect those with debt management problems.

More people could face bankruptcy as unemployment rises, it has been claimed.

Cuts to housing benefits will affect hundreds of thousands of people, one organisation has claimed, which could include those struggling with debt management.

Anyone looking to remortgage their home to deal with debt management issues may struggle because of the falling house prices.

People claiming Jobseeker's Allowance are finding it difficult to keep on top of their debt management responsibilities, it has been claimed.

One of the signs a person may be struggling with debt management is that they only ever make minimum repayments on their credit card, one organisation has said.

Debt management problems in the UK could still be prevalent after new figures from the Bank of England showed record amounts of write-offs for credit cards.

There was an increase in the number of people looking for debt management advice from Citizen's Advice Bureaux in the first three month of 2010.

Filing for bankruptcy in cases of financial difficulty may not necessarily always be the easy option.