Problem debt ‘worth £25bn’
A total of around £25 billion worth of unsecured personal debt that may not be paid back is currently outstanding in the UK, it has been claimed. Research by the credit risk management group TDX has shown that there are…
Millions of Brits ‘putting spending plans on hold’
Millions of British consumers are putting their spending plans on hold as they aim to protect themselves from the financial fallout of the credit crunch, according to a new report. Figures compiled by Mintel have shown that debt management and…
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Recession fears strike young Brits
Many young British consumers have been struck with fear over the state of the economy and the prospect of recession, according to recent research. Debt management problems are squeezing thousands of young families and economic issues are taking their toll…
Apacs fires phishing warning
Apacs, the UK payments association, has fired a warning over the issue of phishing attacks that are seeing some people inadvertently increase their debt management headaches. During the first three months of this year, there were around 10,000 instances of…
Credit rejections ‘will lead Brits to higher-rate loans’
Credit applications are being rejected with increasing frequency and this could see more British consumers turn to higher-rate loan deals, according to one economic expert. Neil Munroe, external affairs director for Equifax, is convinced that lending criteria will continue to…
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Lenders urged to ‘act now on order of payments’
Money lenders in the UK have been urged to act now to inform their customers about what order their debt repayments are allocated. A law will be introduced in October of this year that will oblige financial service firms to…
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British banks ‘running scared’
British banks are running scared and behaving like children, according to Ralph Silva, a business analyst with the TowerGroup. Mr Silva has insisted that money received by financial service firms from the Bank of England is being carefully guarded when…
Britain did a “deal with the debt devil”
Britain did a “deal with the debt devil” that has been partly to blame for the extent of the country’s current economic problems, it has been claimed. Stephen King, managing director of economics at HSBC, has maintained that the ease…
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