George Osborne told the Credit Today conference that an “imaginative solution” was needed to tackle debt problems before lives are destroyed. “The expansion of credit has brought challenges,” warned Mr Osborne. “For some, especially vulnerable families, too much debt can…

Research by Friends Provident shows that 24 per cent of Britons lack insurance to pay mortgage debt upon their death, leaving their family to pick up the bill. Ian Jefferies, head of protection marketing at Friends Provident, commented on the…

Nick White, head of personal finance at consumer finance website uSwitch.com, said that those with credit card debt risk having it mount up if they only repay small amounts. “If you borrow on your credit card and then make the…

Calling for a change in the law, George Mudie MP accused lenders of being too quick to repossess homes when a person gets into debt. “Some lenders are taking court action for possession too quickly,” said the Labour MP as…

Mintel’s British Lifestyles report says that last year consumers parted with £1 trillion – a million million – amounting to £37,000 for every household in the country. “The £1 trillion mark is a significant milestone in the expansion of the…

The organisation has released its Credit Report Basics guide, which highlights the little-known negative implications of bankruptcy. For example, the guide points out that not only will the consumer in debt have to give up possessions of worth but could…

Mervyn King, governor of the Bank of England (BoE), has spoken out over mounting personal debt levels. He said that the increase in the number of people looking for help managing their debts is indicative of a growing social problem.…

A study, carried out by Scottish Widows Bank, shows that there are 1.76 million Brits reaching the autumn of their lives with a total mortgage bill of £80 billion. This equates to an average debt of £45,313 for each pensioner,…