The Right Reverend Peter Selby, Bishop of Worcester, said that a high level of borrowing was bad for both the soul and society and that the government should tackle the “debt economy”. Speaking on BBC Radio Four’s Sunday programme, Bishop…

According to Alliance Trust, the over-75s are the worst hit by inflation at four per cent, near-double the official bank rate, increasing the risk of debt problems. Shona Dobbie, head of the Alliance Trust Research Centre, said: “Our study shows…

Commenting on first direct’s decision to charge £10 for current account use with small balances or low monthly deposits from next February, Defaqto called it “another step in the seemingly inevitable move towards the end of free banking”. David Black,…

PricewaterhouseCoopers warns that an annual fee of £35 could be introduced, something that David Kuo from the Motley Fool believes will lead to more debt management problems. “Some people wouldn’t be able to move their credit card balance anyway, simply…

Licensed insolvency practitioner Philip Beck said that there are debt management experts out there worth consulting as taking out an IVA is “not a quick way out”. Instead, bankruptcy is the “quick way out” but entails negative effects that will…

According to Richard Dodd, spokesman for the BRC, December spending is likely to reach £30 billion, with £12 billion of that related to Christmas. This marks a potential 10 per cent rise on last year. While saying that the BRC…

Philip Beck, a licensed insolvency practitioner, said that a rise in insolvencies would be due to poor pre-Christmas debt management. “Typically, people tend to put off debt problems until January because they want to have one last Christmas spending spree,”…

According to Liverpool Victoria, it now costs £180,137 to raise a child from birth until the age of 21, with care and education being the biggest debt burdens. Nigel Snell, Liverpool Victoria’s communications director, urged proper debt management to ensure…