The pressure to spend excessive amounts of money during Christmas and new year means that people are much more likely to face hardship at the start of 2007, according to Chris Tapp, from money education charity Credit Action. “The financial…
Continue reading the "Debt charity warns of “fire fighting” in January" »
The BBA also revealed that underlying net lending on credit cards grew by £0.1 billion, compared with a £0.3 billion decline in October. This is the first time in many months that BBA figures have not shown personal loan and…
Continue reading the "BBA: Unsecured borrowing very subdued" »
Steve Gracey, from Alliance & Leicester, said that many people are choosing an IVA as an alternative to bankruptcy, but he urges consumers to be “sensible” about this. “Statistics show that more people are taking out IVAsand more people are…
Continue reading the "Those in debt urged by bank to get advice" »
Moira Haynes, spokeswoman for the CAB, said that consolidating debt can work for some people, but it is important that people get quality debt advice before doing so. “We would advise people who are thinking about consolidating their debts to…
Moira Haynes from the debt advice charity said that CAB saw 1.4 million more enquiries last year and warned that people often have their finances in a poor state in January. “We are seeing more debt problems than ever before,”…
According to Neil Munroe, spokesman for credit reference agency Equifax, the good mood from Christmas and for new year preparations does not mean that people should lessen their protection against identity theft. “It is historically a time of year when…
Continue reading the "Beware of ID fraud during festive season" »
According to the supermarket bank, 18 per cent of this went on credit card debt, which will soon accrue interest unless debt management steps are taken. Donald MacLeod, credit card manager at Sainsbury’s Bank, said: “Our research suggests that it…
Continue reading the "Britons spent £1.14bn on Christmas Eve" »
According to moneysupermarket.com, banks are set to introduce hidden fees, house prices will continue to rise and interest rates on loans will increase. Stuart Glendinning, managing director at price comparison website, moneysupermarket.com, said: “2007 will be the year of the…
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