Recording a dramatic leap in the debts it has negotiated on behalf of its clients in Ely during the past year, the Ely CAB says local families are all paying the price. In total debts now amount to £3 million,…
Continue reading the "Local experience highlights debt consequences" »
The event, which is to be held at the London School of Economics, will be the first time that researchers reveal the correlation between growing up poor and suffering from debt and poverty in middle age. As the trend is…
Continue reading the "Persistent poverty jumps generation gap" »
uSwitch.com found that taking out an HSBC loan could cost more than £1,000 extra in interest compared to the same loan from a different lender, such as Direct Line. Overall, there are 13 lenders offering customers personal loans with a…
This is higher than the February’s figure of £4.7 billion, and also above the previous six month’s average of £4.9 billion. Meanwhile, unsecured personal lending has fallen by £0.4 billion, according to the latest figures from the major British banking…
Continue reading the "Mortgages taking the place of unsecured borrowing" »
Peter Brown of educational consultants Gabbitas, and author of the report, found that graduates are an average age of 33 before their lifetime net earnings after the costs of education overtake someone who began working straight after school at the…
Continue reading the "Graduate debt hurts earning into 30s" »
uSwitch.com, which published the figures, found that hidden costs and add-ons are responsible for the extra payments, which are further compounded by charges from foreign traders. Nick White, head of personal finance at uSwitch.com, said that consumers could avoid these…
Continue reading the "Holiday credit costing £607 million" »
Alliance and Leicester found that those in their 20s had the lowest levels of credit card debt, while also having the lowest average cost for servicing their debt. However, younger people do have the highest debt to income ratio, which…
Continue reading the "A&L credit card debt findings questioned" »
Des Browne confirmed that the money would be used to support those who need it most, as part of a new Financial Inclusion Taskforce campaign. He said he was “delighted” to be able to offer the funds that would be…
Continue reading the "New fund to aid affordable borrowing" »
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