A study from Money Shop found that 58 per cent have borrowed money from their parents in the last 12 months. However, only two in five of these people have paid back the full amount, with £275 being the average…
Continue reading the "More than half of consumers ‘indebted to parents’" »
Consumers are borrowing 49 pence for every pound they save, suggests the data from unbiased.co.uk. It adds that despite the £31.7 billion put away between July and September last year, consumers are “continuing to rely on borrowed money”. David Elms,…
Continue reading the "British savings culture ‘hampered by debt’" »
Rightmove’s warning follows the latest 0.25 per cent hike in the base rate – the third such occurrence since August. The firm acknowledged that the rate rises were partly in response to rising property prices but cautioned that driving up…
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– most of whom are single women – many chose not to do so because of the social stigma. This is in contrast with new research by the Bank of England that found people are much more likely to go…
Continue reading the "Stigma preventing necessary bankruptcy, says CCCS" »
According to Standard Life, there has been a huge shift in attitudes towards financial management since last year, with ‘clearing debts’ and ‘financial security’ both in the top five of the firm’s so-called ‘happiness mantra’. Ashley Ramsay, from Standard Life…
Continue reading the "Financial resolve ‘making Britain feel good’" »
A study by advice site IVA.co.uk found that 96 per cent of respondents think the credit card industry should be better regulated, while 89 per cent are in favour of additional regulation of banks. When asked about the issue of…
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Brian Capon, spokesman for the British Bankers’ Association (BBA), said that both sides agreed that any rogue elements in the IVA sector should be driven out. He said there had been two rounds of talks between banks and IVA firms,…
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The charity expects debt management advice to increase this year and said that BBA figures which show credit card borrowing to have contracted merely shows that people are borrowing in different ways. However, David Dooks, BBA director of statistics, said…
Continue reading the "New lending figures ‘reflect growing debt crisis’" »
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