know asap Flashcards
(19 cards)
What was the maximum proportion of the purchase price of a property that was given to a customer under the government’s Help to Buy: equity loan?
95%
What is the first step in drawing up a cash-flow?
Identifying and listing all sources of income
If a woman is employed, her employer must pay Statutory Maternity Pay for up to how many weeks so that see can take maternity leave?
39 weeks
With a debt management plan, what proportion of outstanding debt will be repaid?
75%
Some benefits are paid to people who are working full time but this will depend on their level of income. These benefits are?
Income tested
What is the main reason that the UK government has delayed individuals taking their basic state pension?
Life expectancy
Under a debt management plan, when, if ever, are the debts fully discharged?
After full repayment
Rate from highest to lowest in interest rates on the following products: Credit cards, Personal loans, Payday loan, mortgages, Store cards.
Payday loan
Store cards
Credit cards
Personal loans
mortgages
Name 3 credit reference agencies
Experian, Equifax and Transunion (Call credit)
How much of the outstanding debt will be paid with an informal payment plan and a debt management plan?
100%
How much of the outstanding debt will be paid with a debt relief order?
None of it
How much of the outstanding debt will be paid with an individual voluntary arrangement?
Between 30% to 50%
How much of the outstanding debt will be repaid with a bankruptcy?
Whatever can be raised by selling debtor’s assests
What is the cost of an informal payment plan?
None
What is the cost of a debt management plan?
None, if using a free online debt adviser
What is the cost of an individual voluntary arrangement?
Typically £7,500
What is the cost of a debt relief order?
£90
What is the cost of a bankruptcy?
Up to £700
