Nick White, director of financial services at price comparison website uSwitch.com, made his warning following a report by PricewaterhouseCooper which claims that annual fees of £35 per year could be introduced for plastic, adding to credit card debt. “PricewaterhouseCooper’s prediction…
Continue reading the "Fee for cards “the next logical move”" »
According to Legal & General’s MoneyMood survey, the proportion of homes reporting debt and bill problems has risen continuously for the past three years. “Our research shows that three years ago the number of households with some money left, after…
Continue reading the "More households reporting debt problems" »
David Mond, CEO of ClearDebt, called on credit and loan providers to “stop panicking” and start treating Individual Voluntary Arrangements (IVAs) as serious debt solutions. “Banks and credit card companies need to stop panicking and start taking the IVA seriously…
Sean Gardner, MoneyExpert.com’s chief executive, said that with an APR on cash withdrawal as high as 21.27 per cent, use of this function would add substantially to credit card debt. “It’s tempting to use your credit card to tide you…
Continue reading the "Christmas shoppers urged not to cash in on cards" »
Through the new Payments Industry Association, access, innovation and governance in the cheque industry should be improved and benefit customers. Jonathan May, the Office of Fair Trading’s chairman of the Payment Systems Task Force, which is also involved in the…
PricewaterhouseCoopers warns that an annual fee of £35 could be introduced, something that David Kuo from the Motley Fool believes will lead to more debt management problems. “Some people wouldn’t be able to move their credit card balance anyway, simply…
Licensed insolvency practitioner Philip Beck said that there are debt management experts out there worth consulting as taking out an IVA is “not a quick way out”. Instead, bankruptcy is the “quick way out” but entails negative effects that will…
According to Richard Dodd, spokesman for the BRC, December spending is likely to reach £30 billion, with £12 billion of that related to Christmas. This marks a potential 10 per cent rise on last year. While saying that the BRC…
Continue reading the "Christmas spending up to 10% more this year" »
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