A report from the consumer group Which? has cast doubt over the credibility of supposed experts who offer advice on a variety of personal finance issues, it has emerged. Research from the organisation found that only 32 per cent of…
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Millions of British consumers are aiming to reduce the amount of credit card debt they have outstanding and the number of cards they use, according to recent research. Figures from Abbey suggest that around 7.7 million Britons who spend money…
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Banking groups in the UK are increasingly shying away from what they deem to be risky borrowers, according to reports. With so-called bad debt hitting the profits of some of the foremost banks in the country, these organisations are tending…
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The Association of British Credit Unions (Abcul) has welcomed the government’s proposed actions against illegal lenders. Mark Lyonette, chief executive of credit unions representative Abcul, has called the announcement made earlier in the week by John Hutton “fantastic news”. The…
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The Department for Business, Enterprise and Regulatory Reform (Berr) has announced today the biggest nationwide crackdown on illegal lending ever implemented. John Hutton, secretary for Berr, outlined how new specialist teams would receive funding of almost £3 million to tackle…
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The National Consumer Council (NCC) has welcomed the government’s plans to crack down on illegal lending. Speaking on BBC Radio Five Live’s Wake Up To Money programme, Claire Whyley, deputy director of policy at the NCC, said that the issue…
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The Office of Fair Trading (OFT) has welcomed the news that HSBC is to offer information about going into debt through an overdraft at its ATM machines. A spokesperson for the OFT said that the information, which could help people…
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Creditors should be more cautious about lending money to British consumers, according to the chancellor Alistair Darling. Debt management has put serious financial strain on millions of families around the UK and Mr Darling maintains that both lenders and borrowers…
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