Howard Archer, senior UK and European economist at Global Insight, said that this month’s increase had not had the full effect that the Bank of England hoped for. Also to blame were rising debts, fuel prices, bills and university tuition…

Residents spend 97 per cent of their income on basics such as council tax, utility bills, travel expenses and repaying debt, the YouGov poll found, beating London. Commenting on the findings, Combined Insurance spokesman Nigel Brittle said: “When monthly income…

Robert McKinnie hanged himself at his Isle of Wight home in February after he received around 15 calls per day from banks demanding repayment for debt. “They were aggressive, threatening calls, threatening him that he would lose his home and…

According to statistics from price comparison website moneysupermarket.com, a tenth of Britain’s cardholders are facing a bill of £120 million in interest charges. Rob Kenley, head of credit cards at the website, said: “Our research should provide consumers with the…

With interest rates rising, many people are thought to be taking out loans just to pay the interest on their mortgage, meaning that they could be setting themselves up for repossession if they hit a financial crisis. “Consumers can soon…

Martin had £85,000 worth of debt and did not think he could repay it once he lost his job, yet he had a growing family to support and monthly repayments of £2,000. Speaking to the Daily Mail, he said that…

According to the OFT report, PPI offers a poor rate of payout for claims – as low as 19 per cent – and many people who take out PPI on loans end up paying interest on both the loan and…

John Porter stated that while debt woes are on the rise, there is help out there for big and small problems. He said that while people in debt “are right to be concerned about finances as personal debt problems are…