This warning from Moira Haynes, spokesperson for Citizens Advice, comes as consumers make a decision about how much money to spend in the January sales and whether they need to take out credit. Ms Haynes remarked that lenders ought to…
Continue reading the "Poor financial decisions can ‘make you poorer’" »
According to James Ketchell, spokesperson for the Consumer Credit Counselling Service (CCCS), the fact that in-house figures which show credit card borrowing to have fallen since August is a good sign. “We have seen since August last year that overall…
Continue reading the "CCCS: Consumers showing signs of responsibility" »
Managed by several lawyers and accountants, IVA.com will post online feedback about IVA firms and insolvency practitioners. The website hopes that this will have the double effect of improving quality and increasing competition. An IVA.com spokesperson said: “We at IVA.com…
According to Which?, a cheap way of borrowing money is to take out an unsecured personal loan, as they often have some of the lowest interest rates on the personal credit market. As well as being a good source of…
Continue reading the "Sensible borrowing ‘a must’ in the new year" »
The finance comparison site said that credit card holders who are always in the red and who only make minimum repayments would be shocked by the amount of interest they are amassing. In fact, the firm recently carried out research…
Continue reading the "Borrowers warned over credit card debt" »
Moneyfacts has said that a rise in the official cost of borrowing, which will be echoed in mortgage and personal credit rates across the UK, could be “the tipping point” for many people. In fact, the website said it is…
Continue reading the "Moneyfacts in interest rate warning" »
According to the Bank of England (BoE), lending to individuals in November grew by £1 billion, slightly down on October’s increase of £1.1 billion. Net credit card lending rose by £0.2 billion in November, while other loans and advances grew…
Continue reading the "Personal lending in November ‘up again’" »
Research by uSwitch has revealed that many borrowers are failing to shut down other sources of finance and are instead spending, on average, in excess of £2,300. Nick White, from the website, said that taking out an unsecured loan to…
Continue reading the "Don’t go mad with debt consolidation loan, says uSwitch" »
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