The true extent of the debt problems facing consumers across Britain is being hidden by the official insolvency figures, it has been claimed. According to the Association of Business Recovery Professionals (R3), the data on insolvency is not representative of…
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More and more British consumers are changing their spending habits in response to the credit crunch and its impact on their finances, it has been suggested. According to data compiled by the Fair Investment Company, around 13 per cent of…
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UK consumers should avoid funding property purchases through unsecured debt, one expert has asserted. Peter Beckett, business development director with iammoving.com, has described using credit card debt or personal loans to raise a housing deposit as a “very dangerous thing…
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People considering applying for more credit card debt have been warned that they should be sure of acceptance before doing so. According to David Kuo, head of personal finance at Fool.co.uk, consumers risk worsening their own debt management scenario by…
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Younger generations of British consumers have a better idea about how to handle their debts than their older counterparts, it has been suggested. Writing for the Observer recently, Huma Qureshi makes the case that teenagers across the country have developed…
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With debt management problems worsening for millions of British families, many are cutting back the amounts they plan to spend while on holiday, it has been revealed. Figures from the currency exchange firm FairFX show that almost three in every…
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More than 25,000 people from England and Wales entered insolvency over the course of the first three months of this year, according to the latest official data. The figures show that there were 15,651 cases of bankruptcy and 9,614 reported…
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British consumers are being too decent and overly polite in how they deal with their banks in regards to the issue of overdraft charges, it has been suggested. Marc Gander, founder of the Consumer Action Group, maintains that British people…
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