Research for uSwitch.com found that nearly 540,000 borrowers are paying over the odds for loans below £5,000, with rates as high as 19.9 per cent APR. Nick White, head of personal finance at uSwitch.com, commented: “Loans are undoubtedly the most…

According to Mutual Assurance research, almost half of parents with children over the age of 25 are helping their children to cover basic living costs. Commenting on the report, Karl Elliott, 3GB spokesman for engage Mutual Assurance said: “With recent…

But in doing so they are going bankrupt in record numbers as their earnings do not much the bank balances that the England footballers’ Wives and Girlfriends (Wags) have, accountants Wilkins Kenned claimed. “The Wag-type is a person who thinks…

Credit card debt dropped by £300 million during July, figures from the British Bankers’ Association (BBA) show, a possible sign that people are better managing their finances. However, the amount of deposits savers put into bank accounts also slowed in…

It has suggested that lenders must share data and give better price information and statements, as the CC believes that homeowners are paying too much for loans due to a lack of competition. Recommendations follow provisional findings in April in…

Financial spokesman Julia Goldsworthy said that the latest report only had “vague targets” and she wants to see better education and advice brought in. “Releasing annual reports with vague targets is simply not sufficient to tackle our spiralling personal debt…

Research found that nearly half of new homeowners could only survive six months of mortgage payments if they lost their income, but this could get worse thanks to rising bills and debt, the Post Office said. “First-time buyers tend to…

Homes, cars, weddings and new babies all add to debt, with Axa Wealth Management claiming that spending hits £32,441 at 34. “While 34 was on average the most expensive year in life for all Britons, this study demonstrates that people…