While both the UK and the US are facing spiralling personal debt levels, IVAs, which are not available in the US, have been welcomed as a good way to tackle serious debt without declaring bankruptcy. “In the UK individuals have…
Kate Barnham has set up a website to allow students to live rent-free in another family’s home while their child is at university. Explaining the move, Mrs Barnham told the Argus: “I was worried about Tom’s student debt, especially with…
Continue reading the "Mothers make plan to help student debt" »
On top of year-on-year growth in customers, there was also a one per cent rise in the volume of credit being taken out by borrowers. The home credit market is currently under investigation from the Competition Commission after the National…
According to AFX News, the committee said that debt among Britons was a “cause for concern” and that it was often the case that a “highly pressured marketing environment” was forcing lenders to target borrowers with insufficient explanation of financial…
Continue reading the "Peers worried about consumer credit directive" »
The cashback offer has the potential of cutting an APR from 6.9 per cent to a far more impressive 5.3 per cent. But, according to Nick White, uSwitch’s head of personal finance, the fact that the cashback is only paid…
Continue reading the "HSBC loan is ‘phantom offer’ for many" »
Roz Cross got into financial trouble after taking two months off from work when diagnosed with cancer of the spine. Although she had been servicing her debts before her sudden illness, the Daily Mail reports that arrears built up to…
Continue reading the "IVA helps woman clear debt after illness" »
As banks prepare to pour onto campuses with freebies ranging from iPods to five-year railcards, Frances Walker, of the Consumer Credit Counselling Service (CCCS), warned students not to be tempted by gifts over better saving deals. “Students should shop around…
Continue reading the "Students taking out a loan this summer need to “understand the system”" »
A study for Ernst & Young has concluded that the average household has ten per cent less disposable income than in 2001 due to rising debt, bills and taxes. “Increases in average mortgage payments, coupled with rising fuel prices and…
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