Debt Fixers is changing!

Please be advised that as of 3rd October all future correspondence from us will be sent from our parent company Money Debt and Credit Ltd.

This in no way effects your debt management scheme with us and you don’t need to do a thing. We simply like to keep you up to date with our ever-growing organisation.

Debt Fixers is a trading name of Money Debt and Credit Ltd; so don’t worry, you are still dealing with the same helpful staff!

If you have questions, don’t hesitate to get in contact on 0800 7076108

Click here to redirect or you will be automatically redirected to the Money Debt and Credit website in 30 seconds

Credit card cash withdrawals 'a sign of financial difficulty'

Credit card cash withdrawals 'a sign of financial difficulty'

- Friday, 24 April 2009

People who withdraw cash on their credit card may be experiencing financial difficulty - such as debt trouble - according to a price comparison and switching service.

Research by uSwitch reveals that a recent move by credit card provider Egg has been designed to deter consumers from making small cash withdrawals, as this is often a sign of money trouble.

The group asserts that Egg is one of the few providers to have maintained a low interest rate on cash withdrawals over the last two years, which at 22.9 per cent is still competitive. But across the board, fees for taking out cash on a credit card have risen.

While previously cash withdrawals would have cost Egg customers £3 each, this will now increase to £5, which may deter consumers from using the service.

Louise Bond, personal finance manager at uSwich, said: "The rationale for Egg's change is reasonable. However, we strongly advise customers not to use this facility on any credit card unless they are really desperate for the cash."

Unbiased.co.uk revealed last month that it takes the UK an estimated 83 days to work off the interest owed on its combined debts.

Its chief executive David Elms stressed there are many advantages to paying off debts as quickly as possible and suggested people may wish to speak to a financial adviser about their debt management options.ADNFCR-2300-ID-19137891-ADNFCR
Latest Debt Management Plan NewsDebt Management Plan News ArchiveContact us to discuss Debt Management PlansEmail this article to a friendSubscribe to our RSS Feed

Recent Debt Management Plan News

56% of Brits have no life insurance which could leave family with debt problems

Wed, 04 May 2011
More than half of UK adults currently have no life insurance cover, which could mean their loved ones are left with debt problems when they die...

Brits thinking about retirement advised to seek debt advice

Tue, 03 May 2011
Consumers considering their retirement options have been advised to seek professional advice, as they may end up with debt problems in the future...

Brits planning to attend a wedding should start saving to avoid debt problems

Thu, 28 Apr 2011
Consumers concerned about getting into credit card debt to pay to attend a wedding may want to use their savings instead...

Couples planning their big day can avoid debt problems by negotiating a cheap wedding

Wed, 27 Apr 2011
Couples-to-be worried about needing debt advice in the future after paying for a wedding can ensure they avoid accruing debt problems by negotiating a cheap wedding...