Philip Beck, a licensed insolvency practitioner, said that a rise in insolvencies would be due to poor pre-Christmas debt management. “Typically, people tend to put off debt problems until January because they want to have one last Christmas spending spree,”…
According to Liverpool Victoria, it now costs £180,137 to raise a child from birth until the age of 21, with care and education being the biggest debt burdens. Nigel Snell, Liverpool Victoria’s communications director, urged proper debt management to ensure…
According to moneysupermarket.com, nearly £200 can be wiped out from energy bills by switching to an online tariff as part of a debt management plan. Paul Schofield, head of utilities at the price comparison website, said: “Energy companies used the…
Continue reading the "Consumers urged to go online to reduce energy debt" »
Apacs added that once cash and cheques are taken into account, December’s projected debt figure rises to £51.6 billion, a 6.6 per cent increase on the 2005 figure. “Overall our penchant for plastic continues and it looks as though this…
Continue reading the "Christmas plastic debt set to reach £32bn" »
A spokesperson for Which? welcomed the board’s decision and stated that such promotions were ridiculous and irresponsible, as credit card cheques have high rates of interest that could push people into debt. Hitting out at such offers, the spokesperson said:…
Continue reading the "‘Irresponsible’ credit card cheques chastised" »
A spokesperson for Which? said that it was worried that adverts encouraged irresponsible spending among consumers, pushing them into debt. Commenting on Capital One being reprimanded by the Banking Code Standards Board for sending one million customers credit card cheques…
Vince Cable, economics spokesman for the Liberal Democrats, said that with debt standing at record levels and unemployment rising, the increase from 4.75 per cent will be a “catastrophe” for many families. “People are now facing a three pronged attack…
Continue reading the "Rate rise ‘part of three pronged attack’" »
Karen Barrett of unbiased.co.uk commented on findings that 76 per cent of parents who lent money to children to buy homes do not expect to see it repaid. “Even though our research shows parents are willing to help their children…
Continue reading the "Parents ‘need advice before large financial commitments’" »
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