The Debt Counsellors have released The Debt Management Report to raise awareness of debt management and draw attention to the potential dangers of becoming involved in such programmes. Debt management programmes are becoming increasingly popular for those facing bankruptcy and…
Continue reading the "Report highlights debt management programme pitfalls" »
The governor of the Bank of England has warned that the future of the stock market might not run smoothly and that interest rates may be set to rise, causing some concern among consumers, in particular those who have mounting…
The bank refers to incidents such as a boiler breaking down as an example of a UFO and adds that only 20 per cent of people who encounter such problems have the savings to cover the cost. Increases in credit…
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Richard Mahan, 25, took 13 of his parents’ cards to their limit which prompted him to attempt to commit suicide. His defence lawyer John Clancy said that the debt “raises questions about the wisdom of credit card companies allowing borrowing…
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Even the big lenders such as Abbey are giving savings of up to 3.8 per cent off their high street price for people who take out a loan online. “For basic financial products such as savings accounts and personal loans,…
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According to the Joseph Rowntree Foundation report, debt levels mean that people would rather work informally to get instant cash than work formally and risk waiting for bureaucrats to process payment. Report author Aaron Barbour said of the problem: “People…
According to the latest information from the Student Loans Company (SLC), student loan repayment arrears stood at a massive £186.3 million by the end of the 2005-06 financial year. The total figure for outstanding student and graduate debt (including that…
Continue reading the "Debt cancellation attacked as graduate arrears grow" »
People should make credit payments on time, but as soon as this becomes unfeasible action should be taken. James Jones, consumer affairs manager at Experian, commented: “If you struggle to repay your debt, or if you circumstances change, you should…
Continue reading the "Proactive approach best for those in debt" »
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