Becky Wilks, a spokeswoman for National Debtline, said that young people are more likely to need debt help than older people as fewer younger people read the small print on store cards. “The music is on, you’re buying clothes and…
Teresa Perchard, director of policy at Citizens Advice, welcomed the announcement by the shadow chancellor, George Osborne, to meet debt advice firms to discuss what the party can do to help those who owe money. She told BBC Radio Five…
Continue reading the "Politicians ‘can do more to tackle debt’" »
Commenting on the government’s report on financial inclusion, Abcul CEO Mark Lyonette said that the creation of more credit union accounts would enable more people to have better debt management plans. He said: “More credit unions would be able to…
Continue reading the "Calls for more funding for credit unions accounts" »
According to the shadow chancellor, George Osborne, store cards are to have a week-long cooling off period, while students will get debt management lessons. “It is increasingly clear Gordon Brown has not done enough. Insolvencies are up, bankruptciesare up and…
Debt counsellor Malcolm Hurlston told Sky News that the success of an anti-loan shark scheme in Birmingham meant that it ought to be expanded. “It is true that the poor pay more for everything and therefore it is important to…
Continue reading the "Government ‘can do more’ to tackle loan sharks" »
Jon Bartman, managing director of Money Debt and Credit, told Channel 4’s News at Noon that banks are not “blameless” in contributing to Britain’s £1.3 trillion of personal debt and soaring use of IVAs and bankruptcy. “I don’t think the…
Continue reading the "Irresponsible lending ‘to blame’ for IVA rise" »
Mervyn King said that some people had taken on “far more credit than it was ever plausible to repay”, prompting fears that bankruptcy beckons for many. “All lenders and all borrowers should think very carefully before they either lend or…
Continue reading the "The Bank warns against further borrowing" »
According to the BBA, a net total of 2.11 million post office-accessible accounts have been opened since April 2003, creating debt management opportunities for consumers. Ian Mullen, chief executive of the BBA, commented: “We approach the chancellor’s pre-budget report, confident…
Continue reading the "BBA welcomes financial inclusion measures" »
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