People are facing increased credit card debt levels due to the risk of borrowers defaulting on their payments, it has been claimed. Moneyfacts spokesperson Michelle Slade noted that credit card users are being charged higher prices to cover the cost…

The level of national debt that the UK will be in following proposals outlined in the Budget is concerning, it has been said. Michael Baxter, an economist at Defaqto, noted that the chancellor intends to increase borrowing so that Britain’s…

The availability of mortgages has been “sharply reduced” since the onset of the credit crunch, a new report has noted. Following the beginning of the downturn in the summer of 2007, high-risk borrowers in particular – such as those with…

The Bank of England has opted to keep the base rate at 0.5 per cent, a decision that could have implications for those looking to clear debt. Following this month’s meeting of the Monetary Policy Committee, the figure will remain…

The Bank of England is expected to maintain the base rate at its current level of 0.5 per cent when its Monetary Policy Committee (MPC) meets this week, a poll has suggested. All of the nine economists, business delegates and…

An energy company has introduced a new system that it claims will help customers with their debt management. ScottishPower has pledged to pay back £1 for every £33 that direct debit clients are in credit on their accounts during each…

The provision of consumer credit became “weaker” last month, according to a newly released report. It declined by a total of £0.2 billion during February, compared to a £0.2 billion increase in January, according to the Bank of England. Net…

NatWest and the Royal Bank of Scotland (RBS) have announced that they will work to ensure that the needs of both savers and borrowers are met following this week’s base rate reduction. The lenders stated that customers on tracker mortgages…