Bradford & Bingley’s Duncan Pownall, who runs the mortgage development sector at the lender, said that even though increasing numbers of young people were in debt it did not mean they would be unable to borrow money. Citing new research…
Andrew Smith, marketing director of the debt assistance firm ClearDebt, commented that a reduction in IVA fees for those seeking to pay off smaller debts could make the IVA an option for more people. The debt advice bureau points out…
Continue reading the "Low IVA fees could help many to become debt free" »
The Office of Fair Trading (OFT) has called for a cut in credit card operators’ charges after an investigation into the industry. Comparisons reveal that almost all mainstream credit providers charge £20 to £25 for late or returned payments and…
Continue reading the "OFT credit ruling could spell end of low interest offers" »
The club is not alone in offering a personal loan, credit card and savings account to its fans, but the move into a ‘one-stop’ financial shop is thought to be a first for the market. Accessing the website, which is…
The Consumer Credit Counselling Service (CCCS) said that 12 per cent of people with debt problems that came to see a counsellor in the first three months of 2006 were recommended to declare themselves bankrupt. This is compared to some…
It said that the average customer pays £25 too much for a loan, which is equivalent to £9 per £100 borrowed. Home credit lending is carried out by agents who call to a person’s home, offering them unsecured loans at…
Continue reading the "Competition Commission find £100m of loans overcharging" »
The news comes as loan arrears and bad debt judgements are increasing, bringing the number of people with a bad credit history to a high. The Council for Mortgage Lenders (CML) also said that the number of people in mortgage…
The majority of lenders will offer lower rates on larger sums of money, with some tripling rates for those borrowing smaller amounts. Lisa Taylor, an analyst with Moneyfacts, the financial comparison company, said: “Almost all personal loan providers have adopted…
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