The Association of British Credit Unions (Abcul) has welcomed the government’s proposed actions against illegal lenders. Mark Lyonette, chief executive of credit unions representative Abcul, has called the announcement made earlier in the week by John Hutton “fantastic news”. The…
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Liberal Democrat Treasury spokesman Vince Cable has declared that credit unions play a “crucial role” in helping financially excluded borrowers. Addressing an event hosted by the Association of British Credit Unions, Mr Cable suggested that sub-prime borrowers, such as those…
Buying a new house and taking on the debt that such a process includes is more daunting than marriage, divorce, or starting a new business for Britain’s 18 to 24-year-olds, according to the latest research. The AA has revealed that…
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Credit card debt and unsecured lending both fell in August 2007 while mortgage lending rose, according to the latest figures from the British Bankers’ Association (BBA). The BBA said that net mortgage lending rose by an underlying £6.1 billion during…
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Banks entice students and then “attack them quite viciously” with debt, according to the National Union of Students (NUS). A spokesperson for the organisation said that students need better debt advice and the access to financial information as they are…
The National Consumer Council (NCC) has welcomed the government’s plans to crack down on illegal lending. Speaking on BBC Radio Five Live’s Wake Up To Money programme, Claire Whyley, deputy director of policy at the NCC, said that the issue…
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The Department for Business, Enterprise and Regulatory Reform (Berr) has announced today the biggest nationwide crackdown on illegal lending ever implemented. John Hutton, secretary for Berr, outlined how new specialist teams would receive funding of almost £3 million to tackle…
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The type of debt that is causing people to need a debt solution or debt advice is changing, according to Credit Action. Chris Tapp, deputy director of the national money education charity, has said that mortgage payments have replaced credit…
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