According to statistics from price comparison website moneysupermarket.com, a tenth of Britain’s cardholders are facing a bill of £120 million in interest charges. Rob Kenley, head of credit cards at the website, said: “Our research should provide consumers with the…
Continue reading the "Millions go missing from credit card mismatch" »
Over the next ten years, Skandia predicts 4.2 million graduates will have a combined debt of £71 billion as the government expects the average student to graduate owing £15,000. “[University] should form the start of a long and fulfilling career,…
Continue reading the "Parents need to plan a decade in advance" »
According to the NatWest poll, this translates into a graduation debt of £14,779, over £1,000 more than graduates owed last year. However, Mark Worthington, head of NatWest student and graduate banking, saw hope in the findings: “Despite the anticipated cost…
With interest rates rising, many people are thought to be taking out loans just to pay the interest on their mortgage, meaning that they could be setting themselves up for repossession if they hit a financial crisis. “Consumers can soon…
Continue reading the "Repossession risk of interest-only mortgages" »
Martin had £85,000 worth of debt and did not think he could repay it once he lost his job, yet he had a growing family to support and monthly repayments of £2,000. Speaking to the Daily Mail, he said that…
According to the OFT report, PPI offers a poor rate of payout for claims – as low as 19 per cent – and many people who take out PPI on loans end up paying interest on both the loan and…
John Porter stated that while debt woes are on the rise, there is help out there for big and small problems. He said that while people in debt “are right to be concerned about finances as personal debt problems are…
The amount of people in England and Wales seeking to declare themselves bankrupt rose by 20 per cent and the total number of bankrupts reached 15,796. Commenting on the figures, Mark Sands, director of court work at analyst firm KPMG…
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