Collectively British consumers owed around £1,345 billion at the end of June 2007 and excluding mortgage arrears the average UK household has close to £8,840 in outstanding debts. Additionally, more than 5,000 British adults now approach Citizens Advice about debt…

Howard Archer, chief UK and European economist at Global Insight, suggests that while an increase in the cost of borrowing is unlikely to be brought in by the Bank of England’s monetary policy committee (MPC) in August, the option is…

Despite the Office of Fair Trading setting a limit of £12 on charges charges, British consumers paid out at least £230 million in penalties to their credit card providers in the past year, according to research commissioned by moneysupermarket.com. And…

The company reports that while the average amount of personal loan and credit card debt amounts to around £10,000 in the UK, the average consumer is convinced their debt management burden is only half this figure. Furthermore, the latest study…

Borrowing money has become a common feature of 21st century British life and while some consumers are able to control their spending, many others find themselves in a cycle of debt that is difficult to stop, Tim Moss from Moneysupermarket.com…

The government agency charged with supplying unemployed Britons with their benefit money, Jobcentre Plus, has undergone a series of modernisation initiatives in recent months that have left some of the most vulnerable consumers facing a financial struggle, Citizens Advice insists.…

Some of the largest financial services firms in Britain have been cutting their minimum repayment rates in recent months and uSwitch.com is concerned that the changes could lead to consumers taking considerably longer to pay off their credit card debt.…

Howard Archer, chief UK and European economist for Global Insight, is convinced that the Bank of England will opt to raise the base rate of interest at some point later this year. Any increase would lead to added financial pressures…