To many, this may seem a very early start, but moneyfacts.co.uk states that many high-interest regular saver accounts are fixed for 12 months, so now is the right time to start planning for next year. Rachel Thrussell, head of savings…
Energywatch, the gas and electricity watchdog, said that one customer suddenly owed £853 to their supplier as the token meter had not had its prices reset since 2003, negating the supposed debt management benefits of such meters. Adam Scorer, energywatch…
Continue reading the "Energy meters pushing people into debt" »
According to Moneyextra.com, there is still time to switch credit card debt to interest free offers to ensure that Christmas debt management starts early. “Your credit card is not just for Christmas, but with an average spend jumping 22 per…
Continue reading the "Hurry up to avoid a Christmas hangover" »
David Kuo, head of personal finance at the financial comparison website, said that people are signing up to loans without thinking through the full consequences and total repayment. “Consumers need to focus carefully on the true cost of any purchase,…
According to Defaqto, people who postpones repaying their credit card debt on a sum as little as £100 could be paying anywhere between £5 and £28.33 for their delay. David Black, Defaqto’s head of banking, said: “Annual fees will more…
Continue reading the "Credit card debt could get worse for some" »
The Trading Standards Institute (TSI) claims that illegal money traders “not only make financial debt worse” but can use threats and violence to intimidate people into paying high interest rates. Ron Gainsford, chief executive of TSI, said: “Loan sharks prey…
According to Which? 21 per cent of people have had a bad experience with the industry that could have led to them needing debt help due to the problem. Doug Taylor, a personal finance campaigner from Which? said: “These are…
Continue reading the "Consumers ‘don’t trust the finance industry’" »
Calls to the National Minimum Wage (NMW) helpline were found to have increased by ten per cent in a year, leading to £3,291,516 in unpaid wages being recovered for 25,314 workers. Employment minister Jim Fitzpatrick said: “The national minimum wage…
Continue reading the "Unscrupulous employers pushing people into debt" »
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