In a statement, the FSA warned financial institutions to be ready as “clouds were already darkening” due to rising unemployment levels that will lead to many people falling behind on their debt repayments. In particular, those with high levels of…
Under the proposals, debt relief orders will be introduced as part of the court and tribunals bill, aimed at people that debt solutions such as County Court Judgments (CCJs), Individual Voluntary Arrangements (IVAs) or bankruptcy may not be suitable for.…
Continue reading the "Citizens Advice cautiously welcomes new measures" »
Responding to the Queen’s speech in which the new pensions bill was announced, Fidelity International said that the reforms will still see a typical household face a 50 per cent income drop on retirement, sparking debt fears. Simon Fraser, president…
Continue reading the "Pensioners will be ‘still in debt’ despite reforms" »
The Right Reverend Peter Selby, Bishop of Worcester, said that a high level of borrowing was bad for both the soul and society and that the government should tackle the “debt economy”. Speaking on BBC Radio Four’s Sunday programme, Bishop…
According to Alliance Trust, the over-75s are the worst hit by inflation at four per cent, near-double the official bank rate, increasing the risk of debt problems. Shona Dobbie, head of the Alliance Trust Research Centre, said: “Our study shows…
According to a report on financial inclusion by a Treasury select committee, the “cashless society” trend is inaccessible to many, making poor Britons turn to more expensive methods and the debt risk this brings. “Such people face higher charges for…
Yorkshire Building Society claims that in its survey, 60 per cent of women prefer to date men with no debt, while only two per cent would look for a long-term partner who is constantly spending and has the latest gadgets.…
Continue reading the "Don’t be a Del Boy to get the girls" »
Commenting on first direct’s decision to charge £10 for current account use with small balances or low monthly deposits from next February, Defaqto called it “another step in the seemingly inevitable move towards the end of free banking”. David Black,…
Continue reading the "Debt fear as end of free banking ‘in sight’" »
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