Data from The Debt Counsellors states that overall consumer debt in the UK is about £1.28 trillion, with the figure rapidly increasing. The organisation has consequently released a Debt Counselling Report, which aims to provide consumers with information on tackling…
Continue reading the "Debt grows ‘by £1m every four minutes’" »
Debts accrued through the festive financial binge are expected to range from £5,000 to £30,000, with 300 people forecast to visit the local Citizens Advice Bureau (CAB) by March. Employees at the CAB state that annual debt in the city…
Continue reading the "£2m cost of consumer debt in Carlisle" »
Research suggests that mortgage rates have increased over the past two years, with a two-person household having to spend about 22 per cent of their take home pay on their loans. This is an almost ten per cent increase from…
Neil Munroe, external affairs director for Equifax, states that for many people bankruptcy is the only way out of debt. His comments follow an Equifax survey stating that 56 per cent of respondents believe that it is not fair for…
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Data from HBOS suggests that consumer savings are set to top the £1 trillion barrier for the first time this year. This figure matches that of the collective total for household debt, with researchers from HBOS suggesting that Britons are…
Continue reading the "Savings to ‘soar’ as Brits get to grips with debt" »
About one in ten people believe that lenders will not look at a person’s credit history when deciding whether to issue loans. However, evidence of missed repayments stays on a credit record for about three years and is used by…
Continue reading the "Consumers warned that lenders consider past debts" »
Research from Axa suggests that about a third of Britons refuse to plan their finances at all, with those who do look at them only spending five minutes a week doing so. The provider states that by increasing time spent…
Continue reading the "Spending time on finances ‘can save time spent in debt’" »
A survey from the Confederation of British Industry has found that 30 per cent of banks and more than three-quarters (78 per cent) of businesses are to see a rise in the number of bad loans in the first three…
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