Standard Life claims that reviewing a customer’s full financial situation is “paramount”, particularly when issuing large loans such as mortgages, or else it could lead to a debt problem. Anne Gunther, chief executive of the bank, said: “As a responsible…
Continue reading the "Bank calls for more responsible lending" »
Aegon states that as people become more aware about their finances, they will want quality debt help and other financial advice to improve their monetary capabilities. “As momentum builds behind the government’s financial capability strategy, it’s significant that IFAs [independent…
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James Falla, director of debt advice firm Thomas Charles, said that unless something changes soon, there will reach a point where those who have financial problems surpass those who are making repayments. “We are currently witnessing a correlation of increased…
Moira Haynes, spokeswoman for Citizens’ Advice, said that people need to be able to get good advice if they wish to clear debt. “I think people just need to be wary of being offered what looks like a magic wand…
CreditExpert warns that couples who once held joint accounts could be penalised for not declaring that they are newly-single and thus push themselves into debt. “Divorce and break ups are a harrowing process but the situation can be made worse…
However, CAB spokeswoman Moira Haynes cautioned that they are not a “magic” debt solution and that people need to ensure they take quality advice. “People need good, impartial, independent advice,” said Ms Haynes, urging that consumers take IVA advice. “They…
Continue reading the "Citizens’ Advice: IVAs can be helpful" »
According to Chris Tapp, associate director of Credit Action, advertising is a “major issue” as it tempts people to get into credit card debt. “Advertising is a major issue. When it comes to credit cards, one thing we do see…
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According to the BBC report, young women are selling their eggs to donors to help clear debt and are advertising this on the internet. “I’m 25 and I’ve got three jobs – one in an office in the day, two…
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