Banks entice students and then “attack them quite viciously” with debt, according to the National Union of Students (NUS). A spokesperson for the organisation said that students need better debt advice and the access to financial information as they are…
The National Consumer Council (NCC) has welcomed the government’s plans to crack down on illegal lending. Speaking on BBC Radio Five Live’s Wake Up To Money programme, Claire Whyley, deputy director of policy at the NCC, said that the issue…
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The Department for Business, Enterprise and Regulatory Reform (Berr) has announced today the biggest nationwide crackdown on illegal lending ever implemented. John Hutton, secretary for Berr, outlined how new specialist teams would receive funding of almost £3 million to tackle…
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The type of debt that is causing people to need a debt solution or debt advice is changing, according to Credit Action. Chris Tapp, deputy director of the national money education charity, has said that mortgage payments have replaced credit…
Britain’s indebted children are relying on their parents as a debt solution, according to the latest research from MoneyExpert.com. Some 40 per cent of parents have been called upon to offer their children some form of assistance with their debts,…
National money education charity Credit Action has called for greater financial education to help people with debt management or to stay debt free. The organisation’s deputy director, Chris Tapp, said that while further regulation is not necessarily the way to…
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Individual voluntary arrangements (IVAs) give consumers who have struggled with debt an opportunity to start again, according to the Insolvency Practitioners Association (IPA). The IPA has said that the arrangement between debtors and creditors as a debt solution is a…
Consumers have been advised by an industry expert to keep an eye on their credit report in the wake of the credit crunch. Jim Hodgkins, managing director of CreditExpert.co.uk, has said that it is important those who are not debt…
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