However, once the figures are seasonally adjusted, net lending went up by £400 million, far higher than the recent monthly average of £276 million. Annualised new borrowing on credit cards fell two per cent to £7,569 million in December, which…
Continue reading the "Consumer credit “low by historical comparison”" »
Other underhand methods used by banks to prevent customers pursuing their case include threatening to close accounts, charging for statements and ignoring customer letters, according to Which? The consumer watchdog also found that some customers have been offered loans or…
Continue reading the "Banks accused of threatening customers" »
According to CreditExpert, which carried out the study, 51 per cent of Brits say they are always in control of their personal finances and make every penny count, while 41 per cent know they should invest their money but are…
Continue reading the "Consumers savvy with their money, finds poll" »
London is not only in the grip of its highest repossession rate in more than ten years, it also has one of the highest rates in the UK, according to research for the Evening Standard. And there is no sign…
Continue reading the "London “king of the repossessions castle”" »
Beccy Boden Wilks, from National Debtline, has expressed concern that women’s magazines are exerting social pressure to buy new clothes, which could be why more and more women are racking up credit card debt. Her comments follow findings from the…
Continue reading the "Female debt ‘exacerbated’ by consumer pressure" »
According to the Royal Institution of Chartered Surveyors (Rics), first-time buyers are far particularly at risk of falling behind with their mortgage repayments as interest rates go up. This means the chances of first-time buyers’ homes being repossessed is much…
Continue reading the "Rics warns of repossession misery for new buyers" »
One of the aims of the initiative is to prosecute illegitimate lenders that charge extortionate interest rates and use intimidation to ensure repayment. The scheme, which should be in place by the end of 2008, will see enforcement teams tackling…
According to the study, the number of low-income households struggling with unsecured debt fell between 1999 and 2004, regardless of whether the house was owned or rented, the Guardian reports. However, the poorest members of society are still at risk…
Continue reading the "Rising debt ‘has not ruined householders’" »
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