According to Defaqto, people who postpones repaying their credit card debt on a sum as little as £100 could be paying anywhere between £5 and £28.33 for their delay. David Black, Defaqto’s head of banking, said: “Annual fees will more…

The Trading Standards Institute (TSI) claims that illegal money traders “not only make financial debt worse” but can use threats and violence to intimidate people into paying high interest rates. Ron Gainsford, chief executive of TSI, said: “Loan sharks prey…

According to Which? 21 per cent of people have had a bad experience with the industry that could have led to them needing debt help due to the problem. Doug Taylor, a personal finance campaigner from Which? said: “These are…

Teresa Perchard, director of policy at Citizens Advice, welcomed the announcement by the shadow chancellor, George Osborne, to meet debt advice firms to discuss what the party can do to help those who owe money. She told BBC Radio Five…

Debt counsellor Malcolm Hurlston told Sky News that the success of an anti-loan shark scheme in Birmingham meant that it ought to be expanded. “It is true that the poor pay more for everything and therefore it is important to…

Under the proposals, debt relief orders will be introduced as part of the court and tribunals bill, aimed at people that debt solutions such as County Court Judgments (CCJs), Individual Voluntary Arrangements (IVAs) or bankruptcy may not be suitable for.…

Responding to the Queen’s speech in which the new pensions bill was announced, Fidelity International said that the reforms will still see a typical household face a 50 per cent income drop on retirement, sparking debt fears. Simon Fraser, president…

According to a report on financial inclusion by a Treasury select committee, the “cashless society” trend is inaccessible to many, making poor Britons turn to more expensive methods and the debt risk this brings. “Such people face higher charges for…