The consumer rights group said that in light of the Office of Fair Trading (OFT) action that has brought charges down from £25 to £12 with many providers, banks should now explain how they calculate the cost of someone going…
Continue reading the "Which? wants credit card charges explanation" »
Lisa Taylor from Moneyfacts.co.uk said that the extra repayments on loans and mortgages due to a rate change by the Bank of England could cut disposable income by six per cent – £190 per month. “Recent economic signs do not…
Continue reading the "‘Live for today’ consumers at risk of rate rise" »
Research carried out by YouGov, on behalf of Thomas Charles, found that a fifth of the population has over £10,000 of unsecured debt. James Falla, director of Thomas Charles, commented on the survey: “Compared to even just a few years…
Continue reading the "Debt Survey shows “enormous uptake of unsecured debt”" »
Moira Haynes of the Citizens Advice Bureau (CAB) describes the credit market as “complex”, which can lead to people getting into debt through a lack of understanding. “It can be difficult to understand the exact details of what they [borrowers]…
The Citizens Advice Bureau (CAB) has said that while many are tempted to use this avenue by what seem very tempting loan interest rates, it doesn’t mean that the idea is a good one, with many seeing a good deal…
Continue reading the "Debt Advice encouraged over extra debt" »
A report by AXA Avenue claims that Britons are increasingly torn between two tendencies: their “Dr Jekyll” side, which encourages them to save, and their “Mr Hyde” half, which tells them to finance their lifestyle on credit cards and credit…
Continue reading the "“Jekyll & Hyde” savings disorder exposed" »
The sample of under-30s surveyed gave an average amount of £1,073 owed per person in credit card debt, below half of the average debt incurred by 30-50 year-olds. The under-30s made greater use of overdrafts, with 51 per cent using…
Continue reading the "Under-30s avoid credit card spending but spread debts" »
Peter Brown of educational consultants Gabbitas, and author of the report, found that graduates are an average age of 33 before their lifetime net earnings after the costs of education overtake someone who began working straight after school at the…
Continue reading the "Graduate debt hurts earning into 30s" »
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