MEAFs are the latest financial product to come under scrutiny, following concerns over credit card payment charges and payment protection. The FSA announced last September that it would be looking into the issue of MEAFs and whether or not consumers…

The average cost of a wedding now stands at more than £17,000, but couples planning to tie the knot think their big day will set them back just £6,650, the Alliance & Leicester study shows. This gross misjudgement means some…

The Debt Counsellors have released The Debt Management Report to raise awareness of debt management and draw attention to the potential dangers of becoming involved in such programmes. Debt management programmes are becoming increasingly popular for those facing bankruptcy and…

The governor of the Bank of England has warned that the future of the stock market might not run smoothly and that interest rates may be set to rise, causing some concern among consumers, in particular those who have mounting…

Richard Mahan, 25, took 13 of his parents’ cards to their limit which prompted him to attempt to commit suicide. His defence lawyer John Clancy said that the debt “raises questions about the wisdom of credit card companies allowing borrowing…

Even the big lenders such as Abbey are giving savings of up to 3.8 per cent off their high street price for people who take out a loan online. “For basic financial products such as savings accounts and personal loans,…

According to the Joseph Rowntree Foundation report, debt levels mean that people would rather work informally to get instant cash than work formally and risk waiting for bureaucrats to process payment. Report author Aaron Barbour said of the problem: “People…

People should make credit payments on time, but as soon as this becomes unfeasible action should be taken. James Jones, consumer affairs manager at Experian, commented: “If you struggle to repay your debt, or if you circumstances change, you should…