In a Financial Services Authority (FSA) poll of 1,000 schools, fewer than one in three primary school teachers and fewer than one in four secondary school teachers feel at ease giving lessons on money matters. Furthermore, financial education is squeezed…
Continue reading the "Teachers lack financial education confidence" »
Mike Naylor, principal researcher at Which?, said that thousands of people are at financial risk yet are still borrowing more. “Undoubtedly people need to take responsibility for their borrowing,” said Mr Naylor. “There is a real danger that people are…
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An extra £9.3 billion was borrowed in May, which taken with credit card debt and other forms of credit, means that consumer debt now stands at £1.2 trillion. However, Drew Wotherspoon of John Charcol, believes that this should not be…
A uSwitch poll found that nearly two thirds of respondents did not realise there were typical charges of £17 involved in using credit card cheques and that they could incur extra interest. “There is a danger that many of the…
Sue Edwards, senior policy officer for the Citizens Advice bureau, said that of 1.25 million debt problems dealt with each year, owing to credit card providers was the most common. “Credit card debt now ranks number one in the 1.25…
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Director of the BBA, Eric Leenders, said that access to credit from regulated sources was a “huge enabler” that helped stop people taking out informal arrangements at high interest rates. “Any consumer who takes credit should have the protection that…
Continue reading the "BBA: Banks keep consumers away from loan sharks" »
Robert Skinner, director general of the Money Advice Trust, told a conference looking at tackling the problem that debt requires early intervention. He claimed that the increase in demand on debt helplines was due to a greater awareness of advice…
Continue reading the "“Littlest disruption” could cause chaos" »
Comments were made at a meeting of leading financial experts from Barclaycard, Which? and the Liberal Democrats to discuss ways to halt Britain’s soaring debt levels. “People simply don’t plan ahead. Unless we get more into intervention rather than cure…
Continue reading the "FSA: Debt requires “intervention rather than cure”" »
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