Citizens Advice says that by helping people build financial skills, such as how to budget or how to choose the best credit card, it will help many avoid debt. “There is a need to include financial information at school age,…
Continue reading the "Raising awareness key to avoiding debt" »
The Debt Counsellors believe that only professional advice can help the million pensioners with an average debt of £15,500, while 50,000 more have debts over £50,000. John Porter, senior counsellor with The Debt Counsellors, said pensioners should not stay silent…
The surge in debt beat the overall 18 per cent profit rise at the bank as borrowers struggle with debt management. “In the UK, the unsecured personal sector again contributed the major portion of the impairment charge in the period,…
Neil Munroe, of credit reference agency Equifax, said that while sharing a house could make buying property affordable, if one partner can’t pay then others must foot the bill. “There is no guarantee that things won’t go wrong when people…
Lloyds TSB has already embarked on a programme to educate school pupils about student debt and has produced a parent’s guide. “I think debt is a part of student life unfortunately now because of tuition fees and top up fees,…
Angela Knight denied that banks were to blame for the rise in debt and said it was down to individuals to make up their own minds on whether to take out a loan. “Firstly, [banks] are all signed up to…
Consumers are paying nearly a fifth more on bills than in 2003, with the Consumer Credit Counselling Service (CCCS) claiming that its average client is now spending an extra £32 per month. CCCS chairman Malcolm Hurlston warned: “For those on…
Continue reading the "Fuel bills and soaring council taxes to blame for debt" »
Despite changes to the pensions savings system, people are still finding it hard to invest for the future, Barclays has said. “The research shows that people still see saving for their retirement as a low financial priority as they struggle…
Continue reading the "Retirees suffer from “financial demands of everyday living”" »
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