Moira Haynes of the Citizens Advice Bureau (CAB) describes the credit market as “complex”, which can lead to people getting into debt through a lack of understanding. “It can be difficult to understand the exact details of what they [borrowers]…
April’s total loan value rose by £5,278 million, compared to £5,087 million in March and £4,442 million in April 2005. “Overall, the trends in consumer lending appear stable,” said David Dooks, BBA director of statistics. “After March’s stronger figures, mortgage…
Continue reading the "Level of consumer lending looking stable" »
Robin Amlot, senior editor of AWD Moneyextra, the financial service information website, has hit out at the fact that not only are the interest rates high, the people pushing the card are often clueless about the product they are offering.…
Continue reading the "Store Card pushers criticised for not knowing products" »
Barrow In Furness residents are now in average debt to the tune of £19,275, up from £13,647 a year ago. Debt advisors, ClearDebt, claimed that these figures were low for the north-west region. “Our database of more than 15,000 over-indebted…
Sandra Quinn, director of communications at Apacs, said of the launch of the developed service: “As an industry we are committed to improving consumers’ understanding of credit cards and encouraging responsible borrowing.” Credit card debt can be a problem to…
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According to suggestions from financial comparison website uSwitch, the problem with zero per cent interest credit cards was that banks lost control of the system, with the business being led by whichever provider offered the rate for longest. “As a…
Continue reading the "Zero per cent credit cards dying out" »
The Citizens Advice Bureau (CAB) has said that while many are tempted to use this avenue by what seem very tempting loan interest rates, it doesn’t mean that the idea is a good one, with many seeing a good deal…
Continue reading the "Debt Advice encouraged over extra debt" »
It claims that the move will allow it to make “more accurate and timely decisions” and help create a “tailored product package” through its credit-scoring software. George Lennox, senior manager of group credit and risk at HSBC said that the…
Continue reading the "HSBC chooses Experian for credit scoring" »
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