According to the consumer finance website, 70 per cent of banks approve loans without income checks, while 1.9 million loans are given without affordability ratings, meaning that credit could be allowed for those who risk debt. “With one person in…
AstraDelph International Debt Collection has sent letters to Britons threatening legal proceedings, a County Court Judgment (CCJ) or even a visit from bailiffs unless an alleged debt is paid. Christine Wade, OFT assistant chief executive, consumer advice and trading standards,…
The Debt Resolution Forum will speak on behalf of companies and advisers working across the industry to help ensure that holders of an IVA are treated fairly. According to Reuters, the forum is being established due to soaring rates of…
The ifs School of Finance has said that despite figures showing that insolvencies are on the increase and that lenders were giving Britons even more credit, 6,000 students were taking GCSE, A-level or equivalent personal finance qualifications. “Whilst it may…
In the Alliance & Leicester survey, 42 per cent of those hoping to buy a home cannot afford one as they struggle to clear debt and raise a deposit. Stephen Leonard, director of mortgages at Alliance & Leicester, said that…
According to Morgan Stanley, credit card debt will rise this year by 35 per cent on last year’s season, hitting £1,270. However, Patrick Muir, marketing director at the Morgan Stanley Credit Card, said that the study also showed that repayments…
Continue reading the "Credit card debt to rise this Christmas" »
Yorkshire Building Society claims that Britons could save £44 billion every year through simple measures, a move which would see many become debt free. Tanya Jackson, media relations manager at the building society, commented: “It is interesting to see that…
Continue reading the "Building society in ‘belt-tightening’ call" »
According to ifs, there were 27,644 individual insolvencies in England and Wales in the third quarter of 2006, something which includes both Individual Voluntary Arrangements (IVAs) and bankruptcy. “These figures are yet another aspect of the disturbing trend of increased…
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