Higher education minister Bill Rammell yesterday announced his initiatives to help the government reach its target of 50 per cent in higher education. By introducing a credit system similar to those used in the American higher education situation Mr Rammell…
Continue reading the "Two year degrees to help student debt" »
Writing in next month’s edition of the Journal of Consumer Research, Lisa Bolton, Joel Cohen and Paul Bloom claim that the existence of remedial packages encourage consumers to adopt risky borrowing patterns. Most worryingly of all, the study claims that…
Continue reading the "Debt remedies promote risky spending" »
In total 75 per cent of CreditIndex’s Personal Credit Index respondents said their borrowing did not present them with difficulties, with only 11 per cent predicting that their levels of debt would rise in the next few months. Furthermore, 85…
Research from debt agency One Advice found that of these, half a million owed over £20,000 through personal loans, credit cards and overdrafts being largely responsible. In particular those aged between 35 and 44 were especially vulnerable, with 650,000 of…
Continue reading the "2m Brits enduring £10k of credit card debt" »
IVAs, in which between 40 per cent and 80 per cent of a person’s possessions are recouped to recover as much of the debt as possible, are an alternative to bankruptcy. However, widespread concern has been expressed that profit-seeking companies…
Continue reading the "Consumers warned over mis-sold IVAs" »
New research from an online credit organisation has revealed that towns in Yorkshire and areas in the Midlands dominate the top 20 locations with the most CCJs per household. On average, one in 11 adults in the UK has a…
Continue reading the "CCJ hotspots in the Midlands and the North" »
With Britain passing the cumulative debt watermark of £1 trillion this decade amid a growing frequency of debt-linked problems, National Savings and Investment’s Elen Thomas says there has been an ideological shift where money is concerned. Describing the ease with…
Continue reading the "‘Disconnect’ driving up British credit card debt" »
Whereas in 1995/6 376 people became bankrupt, 655 people fell victim to debt pressures in 2005/6. In particular those aged between 18 and 29 emerged as an increasingly vulnerable group, with the percentage of bankrupts coming from the young doubling…
Continue reading the "Bankruptcies up in the east of England in Suffolk" »
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