Research by uSwitch has revealed that many borrowers are failing to shut down other sources of finance and are instead spending, on average, in excess of £2,300. Nick White, from the website, said that taking out an unsecured loan to…

Consolidating debts with a cheap loan is a good way of reducing monthly payments and improving credit ratings, according to the price comparison site. And taking out a loan can also help to finalise borrowings quickly because payments are fixed…

Moira Haynes, spokeswoman for the CAB, said that consolidating debt can work for some people, but it is important that people get quality debt advice before doing so. “We would advise people who are thinking about consolidating their debts to…

Moira Haynes from the debt advice charity said that CAB saw 1.4 million more enquiries last year and warned that people often have their finances in a poor state in January. “We are seeing more debt problems than ever before,”…

According to Neil Munroe, spokesman for credit reference agency Equifax, the good mood from Christmas and for new year preparations does not mean that people should lessen their protection against identity theft. “It is historically a time of year when…

According to the supermarket bank, 18 per cent of this went on credit card debt, which will soon accrue interest unless debt management steps are taken. Donald MacLeod, credit card manager at Sainsbury’s Bank, said: “Our research suggests that it…

Alliance & Leicester states that such use can create an excess £1,500 of credit card debt, yet nearly a quarter of shoppers have used store cards for purchases. “Christmas costs can really add up and some of the offers pushed…

According to Barclays, this is £230 million more than the next busiest day, December 22nd, adding that £1.5 billion of Saturday’s bills will go towards credit card debt. In addition, December will see over £15.5 billion withdrawn from cash machines…