Speaking to the Times, a spokeswoman for the bureau added that it was not just down to the banks, warning that consumers should be careful with their debt management and not take on more than they can afford to repay.…
Continue reading the "Citizens Advice ‘not surprised’ by bad debt levels" »
According to moneyfacts.co.uk, although banks are meant to offer good debt management opportunities, some charge up to £10 for people to take their money out from a branch. “Today’s savings market is littered with accounts that have bonuses and a…
Gambling has surged in popularity through the easy access to internet sites paid for by credit cards, but many struggle with debt management. Sandra Quinn, director of communications at Apacs, said: “Credit and debit card issuers aren’t there to tell…
In its latest trading update, Barclays said that while its credit card arm was still performing well, it was still concerned by bad credit card debt. “The rate of growth in impairment charges continued the trend of the first half,…
Continue reading the "Insolvency levels hitting credit card firms" »
Banks’ total net lending to individuals increased by £10.9 billion, higher than the increase in September and the six-month average of £10 billion. Similarly, the increase in consumer credit grew by £1.1 billion last month, including a £0.2 billion increase…
Continue reading the "BoE: Lending above average in October" »
Commenting on its latest savings index, Standard Life said that only 58 per cent of people regularly saved and merely a third were happy with their provision for retirement. “The UK has the highest level of personal debt in Europe…
Continue reading the "Standard Life: Make saving easier to tackle debt" »
Speaking to Reuters, Mike Norris, director of policy at the Insolvency Service, said that the move should help consumers avoid bankruptcy. “By keeping people out of bankruptcy and, where appropriate, getting them into Simplified IVAs, we would expect to see…
Richard Lander, director at Citwire.co.uk, reports that the latest monthly update from Seven Investment Management warns about the UK’s poor debt management. “Britons are a nation of debtors. According to Bank of England data, lending to UK individuals stands at…
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