Nick White, head of personal finance at consumer finance website uSwitch.com, said that those with credit card debt risk having it mount up if they only repay small amounts. “If you borrow on your credit card and then make the…

Calling for a change in the law, George Mudie MP accused lenders of being too quick to repossess homes when a person gets into debt. “Some lenders are taking court action for possession too quickly,” said the Labour MP as…

Mintel’s British Lifestyles report says that last year consumers parted with £1 trillion – a million million – amounting to £37,000 for every household in the country. “The £1 trillion mark is a significant milestone in the expansion of the…

The organisation has released its Credit Report Basics guide, which highlights the little-known negative implications of bankruptcy. For example, the guide points out that not only will the consumer in debt have to give up possessions of worth but could…

Mervyn King, governor of the Bank of England (BoE), has spoken out over mounting personal debt levels. He said that the increase in the number of people looking for help managing their debts is indicative of a growing social problem.…

A study, carried out by Scottish Widows Bank, shows that there are 1.76 million Brits reaching the autumn of their lives with a total mortgage bill of £80 billion. This equates to an average debt of £45,313 for each pensioner,…

The Fidelity Retirement Index, commissioned by Fidelity International, warns that unless saving habits change, the average person can expect a 60 per cent fall in income after retirement. With the average salary standing at £22,900, someone retiring tomorrow could therefore…