An extra £9.3 billion was borrowed in May, which taken with credit card debt and other forms of credit, means that consumer debt now stands at £1.2 trillion. However, Drew Wotherspoon of John Charcol, believes that this should not be…

A uSwitch poll found that nearly two thirds of respondents did not realise there were typical charges of £17 involved in using credit card cheques and that they could incur extra interest. “There is a danger that many of the…

Director of the BBA, Eric Leenders, said that access to credit from regulated sources was a “huge enabler” that helped stop people taking out informal arrangements at high interest rates. “Any consumer who takes credit should have the protection that…

Robert Skinner, director general of the Money Advice Trust, told a conference looking at tackling the problem that debt requires early intervention. He claimed that the increase in demand on debt helplines was due to a greater awareness of advice…

The British Bankers’ Association (BBA) has confirmed that borrowing on credit cards fell by £0.3 billion last month. Industry watchers are interpreting the figures as a sign that Britain’s easy credit culture is beginning to wane, with borrowing still up…

Research by Scottish Widows reveals that the number of people saving sufficiently for retirement has fallen, as has the proportion of income being put away by regular savers. The report, which “provides one of the starkest warnings yet” of the…

Over the last 12 months, some 3.5 million people have seen their credit applications turned turn. Within this figure, 1.7 million people were unsuccessful in applying for a credit card, with the same fate befalling 1.5 million loan applicants and…

The research, carried out by the Learning and Skills Council (LSC), shows that 86 per cent of parents never broach the subject of finances with their offspring due to awkwardness or embarrassment about money matters. This reluctance to get things…