Record IVA figures forecast
over the course of the last three months will set a new record. The official figures, which are due for release this week, could show that more than 30,000 people have opted for this kind of debt solution during a…
UK consumers “financially illiterate”
“We are really financially illiterate today”, Glen Bullivant, vice president of the Institute of Credit Management, claimed at a recent event hosted by IVA.co.uk to address some of the issues surrounding Individual Voluntary Arrangements (IVAs) and spiraling debt management difficulties…
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Mums ‘forced to work due to debt fears’
Recent research published by Scottish Widows claims that the rising levels of personal debts across the country mean that 3.5 million families with children are reliant upon a consistent income from two parents. Additionally, the average British family with two…
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Young Brits ‘accustomed to debt’
Recent figures from Engage Mutual show that Britons aged under 25 are now more likely to take out a mortgage at a younger age than was the case for their grandparents, despite house prices nationwide continuing to increase. Much of…
Pawn shops back in business as UK’s debt mounts up
The number of people now turning to pawn shops to bolster their finances is on the increase and the practice of taking on loans in return for personal belongings is becoming more widespread among various sectors of society. Reuters reports…
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Britain’s debt woes ‘set to increase’
Experian’s independent economic consultancy arm Business Strategies suggests that with interest rates likely to be rise, the knock-on effects will be bad news for the millions of Brits faced with mortgage arrears and credit card debt. Creditors will have this…
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Interest rate decision ‘clear-cut’
An increase to 5.5 per cent when the Bank of England’s rate-setting monetary policy committee (MPC) would heighten debt management difficulties for millions across the country and for many would raise the specter of bankruptcy. But in light of the…
Credit consumers ‘need more protection’
Robert Kenley, head of credit cards at moneysupermarket.com, suggests that credit consumers around the country are at an increased risk of debt management problems as a result of “hefty” store card repayment rates. Mr Kenley’s comments come in the wake…
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