Sue Edwards, senior policy officer for the Citizens Advice bureau, said that of 1.25 million debt problems dealt with each year, owing to credit card providers was the most common. “Credit card debt now ranks number one in the 1.25…
Continue reading the "Credit card debt ‘number one problem’" »
Director of the BBA, Eric Leenders, said that access to credit from regulated sources was a “huge enabler” that helped stop people taking out informal arrangements at high interest rates. “Any consumer who takes credit should have the protection that…
Continue reading the "BBA: Banks keep consumers away from loan sharks" »
Robert Skinner, director general of the Money Advice Trust, told a conference looking at tackling the problem that debt requires early intervention. He claimed that the increase in demand on debt helplines was due to a greater awareness of advice…
Continue reading the "“Littlest disruption” could cause chaos" »
Comments were made at a meeting of leading financial experts from Barclaycard, Which? and the Liberal Democrats to discuss ways to halt Britain’s soaring debt levels. “People simply don’t plan ahead. Unless we get more into intervention rather than cure…
Continue reading the "FSA: Debt requires “intervention rather than cure”" »
Even though the bank increased revenues by 15 per cent last year, bad debt charges have soared by 44 per cent and experts expect a similar pattern this year. “The general industry trend is that defaults are increasing, competitive pressure…
Continue reading the "Bad debt gives Barclaycard birthday blues" »
The British Bankers’ Association (BBA) has confirmed that borrowing on credit cards fell by £0.3 billion last month. Industry watchers are interpreting the figures as a sign that Britain’s easy credit culture is beginning to wane, with borrowing still up…
Research by Scottish Widows reveals that the number of people saving sufficiently for retirement has fallen, as has the proportion of income being put away by regular savers. The report, which “provides one of the starkest warnings yet” of the…
Over the last 12 months, some 3.5 million people have seen their credit applications turned turn. Within this figure, 1.7 million people were unsuccessful in applying for a credit card, with the same fate befalling 1.5 million loan applicants and…
Continue reading the "Credit rejections suggest stronger controls" »
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