The Association of British Credit Unions Ltd (ABCUL) research says that it was helping low-income families save, with nearly half saying that credit unions were their only method of saving. “This report shows how credit unions are reaching a wide…
Continue reading the "Credit unions becoming ‘more effective’" »
New figures show that only a quarter of potential borrowers were approved straight away, with a further 17 per cent being offered a higher rate than they hoped for. Stuart Glendinning, managing director of moneysupermarket.com which carried out the research,…
Continue reading the "Consumers coming across loan lottery" »
The Liberal Democrats’ economics spokesman Vince Cable said that the amount of young people in debt is “extremely worrying” and called for better financial education. “The government’s university tuition fees, high house prices and the aggressive marketing of credit are…
Continue reading the "Young people face financial hardship fight" »
According to the research, it costs £15,000 a year to raise a child during its first year due to scores of essential items, but single mothers find it hard to pay for them. “We have noticed a significant increase in…
Research for GE Life shows that a quarter of people who want to retire by 2010 plan to use their tax-free retirement lump sum on a break, despite findings that current retirees struggle to survive on pensions. Scott Dolfi, chief…
Continue reading the "Holiday hopes put retirement at risk" »
Debt experts have warned that while bankruptcies can be discharged in a quicker period than before, many of the associated restrictions to credit are still in place. Instead, IVAs, which are used to repay debts without the risks to credit…
Continue reading the "IVA alternative to bankruptcy misconception" »
According to Mori, overseas students are wiser with their money than home students as they treat their education as an investment and budget better rather than spend funds on drink. The poll found that the average overseas student expected to…
Continue reading the "Debt less problematic for overseas students" »
Financial advice firm Debt Free Direct’s study found that 28 per cent of all bankruptcies had the former partner’s large debts as the chief reason for splitting. “Typically, people in a relationship will take on debts in joint names, never…
Continue reading the "Divorce is major factor in bankruptcy" »
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