Associate director Chris Tapp said that debt problems are becoming increasingly apparent to today’s consumers, which means that borrowers are a lot more cautious about the amount they borrow on credit. His comments follow research by UK payments association Apacs,…
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The latest Personal Credit Index from CreditExpert shows that a quarter of UK couples argue about money, with at least two million relationships falling apart in recent months because of this issue. Research also shows that 18 to 34-year-olds are…
The impact of three increases in interest rates since August will worsen the condition of many Brits who are struggling with mortgage payments and unsecured debts, said Howard Archer, from analysis firm Global Insight. He told the Guardian that consumers…
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According to the government’s Insolvency Service, the total number of bankruptcies, insolvencies and individual voluntary arrangements in the final quarter of 2006 totalled 29,804. This is a 44.1 per cent increase on the same period in 2005. Pat Boyden, from…
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Vince Cable, Treasury spokesman, said while there are some good courses available to a very small part of the student population, overall education standards regarding money are “abysmal” because it fails to grasp the magnitude of the problem. Mr Cable…
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This is the view of insolvency practitioner Melanie Giles, who believes that although there is still a social stigma attached to debt, “in time, another generation may not feel like that”. Speaking at a financial industry convention in Canary Wharf…
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The price comparison site has found that 89 per cent of credit card applicants over the past year did not have to prove their income, while 96 per cent of borrowers did not have to provide proof of outgoings. The…
Continue reading the "Sub-standard affordability checks ‘deeply irresponsible’" »
A total of 20 per cent of men are considering insolvency, compared with 17 per cent of women, according to debt firm Thomas Charles, which estimates there are 8.4 million Brits with unsecured debts of £10,000 or more. Although the…
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