Vince Cable, Treasury spokesman, said while there are some good courses available to a very small part of the student population, overall education standards regarding money are “abysmal” because it fails to grasp the magnitude of the problem. Mr Cable…
Continue reading the "Finance education ‘failing young people’" »
This is the view of insolvency practitioner Melanie Giles, who believes that although there is still a social stigma attached to debt, “in time, another generation may not feel like that”. Speaking at a financial industry convention in Canary Wharf…
Continue reading the "Desperate borrowers ‘feel obliged’ to repay debts" »
The price comparison site has found that 89 per cent of credit card applicants over the past year did not have to prove their income, while 96 per cent of borrowers did not have to provide proof of outgoings. The…
Continue reading the "Sub-standard affordability checks ‘deeply irresponsible’" »
A total of 20 per cent of men are considering insolvency, compared with 17 per cent of women, according to debt firm Thomas Charles, which estimates there are 8.4 million Brits with unsecured debts of £10,000 or more. Although the…
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In its latest Financial Risk Outlook, the watchdog said the level of debt in relation to income is at a record high and is twice as much as it was in the 1980s. The report stated that there is a…
The FSA told the Daily Mail that people’s “live for today” approach is having a negative effect on their personal finances, which could prove disastrous if the UK economy takes a downturn. According to the watchdog, a million adults are…
Continue reading the "Attitudes towards debt ‘careless and reckless’" »
According to financial advice website Unbiased, the UK has to work the whole month of January to earn enough just to service the interest on its personal debts. Research shows that in order to clear the average interest amount of…
Continue reading the "UK works 31 days ‘to clear interest’" »
The charity has said it is concerned about the number households that are struggling to pay their mortgage, putting them at risk of property repossession. National debt policy officer Peter Tutton said that housing debt is one of the fastest…
Continue reading the "Stretched householders ‘at risk of repossession’" »
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