Debt News
Debt collectors 'need to reform practices'
Posted by on 26th February 2010 to Debt News
Collection agencies would benefit from taking into account debtors' individual circumstances, according to a new study. A new joint report from debt advice charities told the credit industry that impr...
Consumers faced with fuel debts despite record profits
Posted by on 26th February 2010 to Debt News
Energy companies need to pass on the benefits of their huge profits to households faced with huge fuel bills, claims one expert. British Gas has been roundly criticised this week after its announcemen...
Govt needs to help poor families after recession
Posted by on 26th February 2010 to Debt News
People in the UK want more government help to deal with the impact of the recession, after figures showed that the average family is no better off now than last year. The Asda Income Tracker released ...
Fraud scammers are close to home, warns report
Posted by on 26th February 2010 to Debt News
Fraud victims can be targeted by their own families, according to a new in-depth analysis. Fraud is on the rise, with some unsuspecting people being targeted by friends and families. A new report from...
Consumers failed by store card sales
Posted by on 26th February 2010 to Debt News
Shoppers in the UK are finding themselves in increasing amounts of store card debt because they do not see the credit as 'real money'.R3, the insolvency trade body, reported this week that two thirds ...
People may have to work until they are 70 to get their pension
Posted by on 25th February 2010 to Debt News
Workers in their 30s now may have to work another 40 years before they are entitled to a pension.A new report from experts PricewaterhouseCoopers found that £9 billion could be taken off the nati...
Saving starts at 40 for one in ten
Posted by on 25th February 2010 to Debt News
More than one in ten people in the UK put themselves at serious risk of debt by not saving until they are 40 years or older.A new survey from National Savings and Investments found that while the aver...
Debt problems widespread 'as 5m adults are in overdraft at all times'
Posted by on 24th February 2010 to Debt News
Five million UK adults are in their overdraft at all times, new research has shown, highlighting the extent of the country's debt problems.Figures published by moneysupermarket.com reveal that ten per...
Debt advice needed for staying in the black
Posted by on 24th February 2010 to Debt News
New figures show that five million adults in the UK are permanently in the red.The research from moneysupermarket.com shows that most UK consumers could do with debt advice on managing overdrafts, tho...
Consumers not getting benefits of cheap energy prices
Posted by on 23rd February 2010 to Debt News
Consumers are still receiving huge energy bills, even though suppliers are enjoying cheaper wholesale energy prices.A report from Ofgem published yesterday (February 22nd) highlighted that the net mar...
Debt tips for those faced with high credit card rates
Posted by on 22nd February 2010 to Debt News
Consumers in the UK may be paying up to £150 for each £100 of card debt they have, according to a newspaper investigation.The Sunday Mirror has found that banks are raising credit card limit...
Consumers still saddled with Christmas debt
Posted by on 22nd February 2010 to Debt News
Consumers are still facing debts from using store installment credit over Christmas. According to new figures from the Finance & Leasing Association (FLA), consumers spent 17 per cent more on inst...
Credit card interest 'too high'
Posted by on 22nd February 2010 to Debt News
Credit card interest rates are too high, according to a former government advisor.At the weekend, Dr. Ros Altmann called for an investigation into the practices of credit card companies.It was reveale...
Ombudsman warns against debt help call scam
Posted by on 22nd February 2010 to Debt News
Those faced with debt problems should be wary of scam calls from firms claiming to offer financial advice in exchange for an upfront fee.Consumers are asked by an organisation called either the Bankin...
Repossessions to hit 53,000 mark this year
Posted by on 19th February 2010 to Debt News
A study by the Council of Mortgage Lenders (CML), expects that repossessions will rise to around 53,000 in 2010 – up 15 per cent from 46,000 in 2009. The CML have said that following 18 months of...
'Ghost' households should seek debt help for energy bills
Posted by on 19th February 2010 to Debt News
Research from a price comparison site has found that there are almost two million households in the UK which are not paying for electricity or where residents have left without paying bills.Price comp...
Home-working scams target unemployed with debts
Posted by on 18th February 2010 to Debt News
People with debts who are seeking extra work should watch out for home-working scams that could leave them out of pocket.The Office of Fair Trading (OFT) warned this week that work from home scams are...
Debt help needed for parents with 'Yuckies'
Posted by on 17th February 2010 to Debt News
Over half of parents with kids from 18 to 30 wished they had saved more in order to support their family into adulthood.A new study from The Children's Mutual found that the 93 per cent of parents sur...
Inflation likely to increase household debts
Posted by on 17th February 2010 to Debt News
New figures show that inflation hit 3.5 per cent last month, making the cost of day-to-day living even harder for families in debt.Families will be faced with higher bills for heating, running cars an...
Money on street is 'fair game' for debt-ridden UK
Posted by on 16th February 2010 to Debt News
New research has found that almost half of UK residents (49 per cent) surveyed would keep £100 if they found it in a street.The figures from Santander Current Accounts show a 13 per cent increase...
Celebrities face huge tax debts after avoidance
Posted by on 15th February 2010 to Debt News
Several household names from the sports world may be facing huge debts after investing in a tax-avoidance scheme.Revenues & Customs are investigating the film investment fund Inside Track, after i...
Debt advice needed for holidays abroad
Posted by on 15th February 2010 to Debt News
New research has found that UK residents got themselves into £122 million of debt from credit card foreign exchange fees in 2009. Santander Cards found that on average each traveller spends on a...
AMI: Debt advice should be provided alongside mortgages
Posted by on 12th February 2010 to Debt News
It is crucial that those at risk of debt problems are able to obtain a higher level of debt advice ahead of getting a mortgage than has previously been the case, an organisation has claimed. The Assoc...
Repossessions reached 46,000 in 2009
Posted by on 11th February 2010 to Bankruptcy Advice News
The importance of repossession advice has been highlighted by new figures showing that the number of homes being sold by lenders reached 46,000 in 2009.Statistics published by the Council of Mortgage ...
Repossession help: Govt to continue offering mortgage support
Posted by on 11th February 2010 to Bankruptcy Advice News
Those seeking repossession help may be reassured to discover that the government intends to continue supporting those in financial difficulties.John Healey, housing minister, has claimed that this ass...
Inflation predictions 'could be bad news for those with debt problems'
Posted by on 10th February 2010 to Debt News
Inflation rates are likely to have gone up in January but only on a temporary basis, a new report has suggested, which could impact those struggling with debt problems.The Bank of England's inflation ...
Debt problems face those entering retirement this decade
Posted by on 10th February 2010 to Debt News
A large number of those approaching pension age are facing a retirement in debt, new figures have suggested.Research by Aviva has found 40 per cent of those aged 55 to 64 have put nothing aside each m...
Debt worries 'are getting in the way of people's relationships'
Posted by on 10th February 2010 to Debt News
The financial crisis has been having a strong effect on the love lives of many people in the UK, new figures show.Research from Scottish Widows has found 36 per cent believe that the pressure they are...
Water damage cost 'could exacerbate debt problems'
Posted by on 9th February 2010 to Debt News
The coldest winter in decades has resulted in many of those with debt problems being forced to pay for repairs caused by water damage, new research suggests.Figures published by Sainsbury's Finance ha...
Banking system 'is not changing to benefit those in debt'
Posted by on 9th February 2010 to Debt News
The majority of customers do not believe that the banking system is changing for the better, which could impact on those with debt problems.As part of the Which? Big Banking Debate, it was revealed th...
Govt 'must offer more help to families with debt problems'
Posted by on 8th February 2010 to Debt News
The government needs to invest more resources in minimising the effects of poverty and debt problems on families facing financial difficulties. Carena Rogers, policy advisor at the Family and Parentin...
Repossession advice: Those trying to repay 'should be better protected'
Posted by on 8th February 2010 to Bankruptcy Advice News
The government must roll out measures to help those in need of repossession advice but who are working to try and repay their debt and those who are not, a group has claimed. Al Elliott, co-owner of t...
Group sees rise in bankruptcy and insolvency enquiries
Posted by on 5th February 2010 to Bankruptcy Advice News
There has been a large rise in the number of people who have had to seek insolvency, new figures have shown.Statistics published by the Consumer Credit Counselling Service reveal that 39,663 of those ...
Insolvencies rise 24.9% in Q4 of 2009
Posted by on 5th February 2010 to Bankruptcy Advice News
There has been a rise of 24.9 per cent in the number of individual insolvencies in the fourth quarter of 2009.Figures published by the Insolvency Service showed that 35,574 became insolvent during thi...
Customers must push electricity companies to lower their prices
Posted by on 5th February 2010 to Debt News
It is crucial for customers to put more pressure on companies in order to lower the average cost of electricity bills if those with debt problems are to find these easier to cope with, a leading price...
Third 'risk debt by relying on fate to secure their financial futures'
Posted by on 4th February 2010 to Debt News
One in three people in the 28 to 40 age bracket are risking debt problems by leaving their financial security to fate, new research suggests.A report issued by Standard Life has found that 29 per cent...
Fewer women risk debt as UK edges towards equality of pay
Posted by on 4th February 2010 to Debt News
The greater number of women who are currently experiencing a rise in their incomes is good news, as it lowers their risk of entering into debt, an expert has asserted. Brendan Barber, general secretar...
Expert: More must be done to tackle poverty and debt problems
Posted by on 3rd February 2010 to Debt News
There needs to be more done to help tackle poverty, debt problems and financial difficulties in the UK, it has been claimed.Chris Goulden, poverty research manager at the Joseph Rowntree Foundation, c...
Stress and depression 'can be caused by debt problems'
Posted by on 2nd February 2010 to Debt News
Debt and financial problems could lead to people becoming more stressful and even developing depression, a new study has found.Research by the Consumer Credit Counselling Service (CCCS) has shown that...
Personal debt 'rises to £1.46tn in December'
Posted by on 2nd February 2010 to Debt News
Personal debt for those living in the UK reached £1.46 trillion at the end of December 2009, new figures show.A report by Credit Action reveals that the 12-month growth in this figure was 0.7 per...
Debt problems 'could be exacerbated by rising inflation'
Posted by on 1st February 2010 to Debt News
People with debt problems are facing a high rise in the cost of living if the Bank of England does not successfully juggle each of its obligations, an expert has claimed.David Kuo, director at the Mot...
Debt problems 'could be made worse by vet bills'
Posted by on 1st February 2010 to Debt News
People with debt problems are experiencing difficulties meeting the vet bills for their pets, new research has found.A study by Gocompare.com has shown that owners of cats and dogs spend an average of...
