Children’s Mutual states that with final bills for studying to qualify for certain professions reaching £70,000, saving needs to start early to offset this debt. “By saving regularly over the long term, parents and other family members could help provide…
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Even on a tight budget, living costs are over 2.5 times what the state provides, which could force many to go into debt, according to the Axa survey. Commenting on the findings of an experiment to make people live on…
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Through the introduction of an annual review of overdrafts, HSBC’s action could cut down on the amount of people regularly using overdrafts as loans. “Overdrafts were originally developed to give customers a safety net and more flexibility to cover short-term…
Data from comparison site Moneysupermarket.com shows that average spend on cards was £779 and that many holders are accruing interest on this spending, adding to debt. “You could be left with more than a tan if you don’t think about…
The consumer finance website claims that as banks will lose £300 million following a cap on charges, other fees such as increasing interest rates or balance transfer fees means there are new ways to get into debt. Commenting on the…
Louise Cuming, head of mortgages at moneysupermarket.com, warned that a fall in house prices would make holders of such loans face the prospect of selling their home or even repossession. “Getting a 125 per cent mortgage comes with health warnings,”…
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Commenting on Glasgow’s bid for a new “super-casino”, a Scottish Executive spokesman said that while the casino would give an economic boost, it was concerned about the social impacts of debt and gambling. Enterprise minister Nicol Stephen said to BBC…
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Citizens Advice figures show that 770,000 Britons missed repayments as they failed to properly manage their debt. “We are very concerned about the numbers of people who are missing payments,” said Citizens Advice chief executive David Harker. “Missing payments on…
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