According to MoneyExpert, 332,000 credit card bills are likely to remain unpaid in January, despite the fact that the average charge for a missed credit card bill is £12. Research also shows that ten per cent of Brits admit to…
Continue reading the "More debts for Brits as credit card bills are missed" »
According to CardGuide, borrowers are still spending large amounts of money but are taking out personal loans or overdrafts rather than relying on credit cards. Furthermore, some people have only reduced credit card spending so that they can divert their…
Continue reading the "Credit card decline ‘may not be the full story’" »
Before applying for an individual voluntary arrangement (IVA), people in the north of England have average unsecured debts of £31,000, whereas those in the south have almost £45,000, according to research from Debtmatters. The report from the company also reveals…
Joel Lewis, spokesperson for CCCS, said that if commitments for personal loans, credit cards, store cards come to more than a fifth of a person’s income then they are probably in need of professional help. He advised those who are…
Continue reading the "Borrowers urged not to overextend themselves" »
However, once the figures are seasonally adjusted, net lending went up by £400 million, far higher than the recent monthly average of £276 million. Annualised new borrowing on credit cards fell two per cent to £7,569 million in December, which…
Continue reading the "Consumer credit “low by historical comparison”" »
Other underhand methods used by banks to prevent customers pursuing their case include threatening to close accounts, charging for statements and ignoring customer letters, according to Which? The consumer watchdog also found that some customers have been offered loans or…
Continue reading the "Banks accused of threatening customers" »
According to CreditExpert, which carried out the study, 51 per cent of Brits say they are always in control of their personal finances and make every penny count, while 41 per cent know they should invest their money but are…
Continue reading the "Consumers savvy with their money, finds poll" »
One of the aims of the initiative is to prosecute illegitimate lenders that charge extortionate interest rates and use intimidation to ensure repayment. The scheme, which should be in place by the end of 2008, will see enforcement teams tackling…
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