According to Alliance Trust, the over-75s are the worst hit by inflation at four per cent, near-double the official bank rate, increasing the risk of debt problems. Shona Dobbie, head of the Alliance Trust Research Centre, said: “Our study shows…
According to a report on financial inclusion by a Treasury select committee, the “cashless society” trend is inaccessible to many, making poor Britons turn to more expensive methods and the debt risk this brings. “Such people face higher charges for…
Yorkshire Building Society claims that in its survey, 60 per cent of women prefer to date men with no debt, while only two per cent would look for a long-term partner who is constantly spending and has the latest gadgets.…
Continue reading the "Don’t be a Del Boy to get the girls" »
Commenting on first direct’s decision to charge £10 for current account use with small balances or low monthly deposits from next February, Defaqto called it “another step in the seemingly inevitable move towards the end of free banking”. David Black,…
Continue reading the "Debt fear as end of free banking ‘in sight’" »
Nick White, director of financial services at price comparison website uSwitch.com, made his warning following a report by PricewaterhouseCooper which claims that annual fees of £35 per year could be introduced for plastic, adding to credit card debt. “PricewaterhouseCooper’s prediction…
Continue reading the "Fee for cards “the next logical move”" »
According to Legal & General’s MoneyMood survey, the proportion of homes reporting debt and bill problems has risen continuously for the past three years. “Our research shows that three years ago the number of households with some money left, after…
Continue reading the "More households reporting debt problems" »
David Mond, CEO of ClearDebt, called on credit and loan providers to “stop panicking” and start treating Individual Voluntary Arrangements (IVAs) as serious debt solutions. “Banks and credit card companies need to stop panicking and start taking the IVA seriously…
Sean Gardner, MoneyExpert.com’s chief executive, said that with an APR on cash withdrawal as high as 21.27 per cent, use of this function would add substantially to credit card debt. “It’s tempting to use your credit card to tide you…
Continue reading the "Christmas shoppers urged not to cash in on cards" »
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