Experian believes that its new report will get rid of misconceptions about debt and the effect on individual credit ratings. “There are a number of myths about the credit reference processes that have been perpetuated over the years, leaving many…

He labelled inflation expectations “not of serious concern yet”, although many people already fear an interest rate rise that could push them further into debt. His comments may fuel speculation that the governor is reluctant to increase interest rates from…

The Institute for Public Policy Research (IPPR) survey reveals that nearly five million parents need financial assistance for childcare, without which they risk being stuck in a debt cycle as they cannot afford to return to work. “Further investment in…

Friends Provident’s survey claims that a fifth of people believe that they could survive retirement on a lump sum of £50,000, but this only works out at a quarter of the weekly minimum wage to live on. “The continued lack…

Lloyds TSB’s Consumer Barometer report claims that two thirds of the population expects a rise in the interest rates during the coming year, pushing up the amount of debt they will have to repay each month. Trevor Williams, chief economist…

Seymour Fortescue of the Banking Code Standards Board said in an interview that it is important that banks consider people’s ability to pay money back when issuing credit cards or loans. Speaking on BBC One’s Breakfast, Mr Fortescue said: “There…

Although the Bank of England announced on Thursday that interest rates are to remain at 4.5 per cent, most analysts are expecting a rise in the rate later this year, which would particularly hit those on a variable mortgage. “The…