A greater degree of awareness among consumers has helped to boost the number of people entering an Individual Voluntary Arrangement (IVA) in the UK over recent years, it has been suggested. Stephen Rose, director of the Debt Advice Bureau, insists…
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Millions of British consumers are aiming to reduce the amount of credit card debt they have outstanding and the number of cards they use, according to recent research. Figures from Abbey suggest that around 7.7 million Britons who spend money…
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Financial comparison service uSwitch.com has warned that British consumers could face significant repair bills if they fail to cover themselves against boiler breakdown as the winter months approach. The company is convinced that many people around the country will neglect…
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Banking groups in the UK are increasingly shying away from what they deem to be risky borrowers, according to reports. With so-called bad debt hitting the profits of some of the foremost banks in the country, these organisations are tending…
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Debt consolidation is the foremost reason why British consumers take out a loan, one expert has made clear. A total of more than 40 per cent of people opting to borrow money do so in an effort to reduce their…
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Despite worsening debt management problems faced by millions of UK consumers, one MP has claimed that the country’s personal borrowing levels are affordable. John McFall, Labour chair of the House of Commons Treasury select committee, insists that the dramatic increase…
The need for financial understanding has “never been higher”, according to the Open University. Announcing the third run of its financial education course, the university has said that the knowledge dispensed to those who attend can “better equip” people to…
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Despite a fall in mortgage lending in August, figures are still at “very high levels”, according to the Council of Mortgage Lenders (CML). Gross mortgage lending for August stood at £32.2 billion in total, a six per cent fall on…
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