Even though the bank increased revenues by 15 per cent last year, bad debt charges have soared by 44 per cent and experts expect a similar pattern this year. “The general industry trend is that defaults are increasing, competitive pressure…
Continue reading the "Bad debt gives Barclaycard birthday blues" »
The British Bankers’ Association (BBA) has confirmed that borrowing on credit cards fell by £0.3 billion last month. Industry watchers are interpreting the figures as a sign that Britain’s easy credit culture is beginning to wane, with borrowing still up…
Research by Scottish Widows reveals that the number of people saving sufficiently for retirement has fallen, as has the proportion of income being put away by regular savers. The report, which “provides one of the starkest warnings yet” of the…
Over the last 12 months, some 3.5 million people have seen their credit applications turned turn. Within this figure, 1.7 million people were unsuccessful in applying for a credit card, with the same fate befalling 1.5 million loan applicants and…
Continue reading the "Credit rejections suggest stronger controls" »
The research, carried out by the Learning and Skills Council (LSC), shows that 86 per cent of parents never broach the subject of finances with their offspring due to awkwardness or embarrassment about money matters. This reluctance to get things…
Continue reading the "Parents harm children’s financial education" »
Julia Harris, mortgage analyst at Moneyfacts.co.uk, said that banks were waking up to the fact that while graduates may start with huge debts, they will soon start earning and will want a home in the meantime. “With the aim of…
Continue reading the "Graduates in debt advised over mortgages" »
According to the Alliance Trust, inflation has hit the elderly with essentials such as food and drink accounting for twice the proportion of spending than that of the under-30s. “We have found the eldest householders are still the ones who…
Continue reading the "Bare necessities cost pushes elderly towards debt" »
Economics spokesman for the party, Vince Cable, said that personal debt is becoming a key issue for social and economic policy. “Personal debt problems is becoming a dominating issue in economic and social policy,” claimed the MP. “Millions of people…
Continue reading the "Lib Dems see debt as “dominating issue”" »
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