Debt News
Over 1m in UK struggle without any debt help
Posted by on 31st March 2010 to Debt News
Personal insolvencies could be set to rise, with a reported one million people in the UK struggling without seeking any debt help.The latest figures from the charity Credit Action show that there were...
Consumers to get more protection against loans
Posted by on 31st March 2010 to Debt News
Consumers in the UK are to have better protection against rigid loan terms that can make debts spiral out of control.The government announced the new rules yesterday (March 30th), which see borrowers ...
UK expats facing debts
Posted by on 31st March 2010 to Debt News
UK expats are struggling with debts as the value of the pound falls, according to one debt charity which has seen a sharp rise in overseas calls.The Consumer Credit Counselling Service (CCCS) has seen...
Debt crisis could loom with new 'super-size' mortgages
Posted by on 29th March 2010 to Debt News
First-time buyers struggling to get onto the property ladder could face serious debt if they take on the new 'super-size' mortgages.The Post Office is to offer mortgages to buyers who can only afford ...
People in the UK still cutting back on daily outgoings
Posted by on 29th March 2010 to Debt News
UK residents are still penny-pinching on daily expenses, according to new research.New research from Santander found that eight in ten people surveyed said that they were trying to economise and bag b...
More help for poorer families announced
Posted by on 26th March 2010 to Debt News
Poor families struggling with the costs of young children may get more financial support from the government, after new proposals were announced this week.The government announced the measures as part...
Low pay jobs boosted by minimum wage rise
Posted by on 26th March 2010 to Debt News
People with minimum wage jobs will see an increase in their hourly rate from October 1st onwards, following changes in the Budget.The government this week hiked up rates for all three age groups. Work...
Consumers 'need independent advice' in banks
Posted by on 25th March 2010 to Debt News
UK consumers need to be able to get independent advice when choosing the best financial services, according to experts.A Which? report has found that banks and building societies are consistently fail...
Basic bank accounts 'could end free banking'
Posted by on 24th March 2010 to Debt News
Everyone in the UK can now open a basic bank account regardless of their financial history, following new legislation in today's Budget (March 24th).Though the majority of people are able to open basi...
Nearly 3m delay retirement for fear of poverty
Posted by on 24th March 2010 to Debt News
Close to one in five people in the UK will carry on working five years after retirement age because of the impact on the recession and personal financial emergencies.Prudential's Class of 2010 study f...
13m people in UK skimp on warmth to save money
Posted by on 23rd March 2010 to Debt News
Thirteen million people in the UK were forced to ration their energy use this winter because of the high costs of energy.Price comparison site uSwitch.com found that over two-thirds (69 per cent) of p...
Are credit card rates set to increase?
Posted by on 23rd March 2010 to Debt News
Households are likely to find that credit card rates will increase, despite recent government measures to stop providers from fuelling consumer debts.Finance experts at thisismoney.co.uk believe that ...
Self-employed at risk of poverty in old age
Posted by on 22nd March 2010 to Debt News
Self-employed people risk being poor in their old age because they save less than a third of money saved by their employed counterparts.A survey by Standard Life found that half of those self-employed...
Cowboy builders cost UK £6.8 billion
Posted by on 22nd March 2010 to Debt News
UK residents find themselves £6.8 billion out of pocket annually because they employ the cheapest workmen who end up costing thousands in damages.Santander Insurance UK found that nearly one in f...
Pension fees could 'stop people saving'
Posted by on 19th March 2010 to Debt News
Taking a two per cent fee for pension contributions could put people off saving, according to one finance expert. The Department for Work and Pensions announced earlier this week that those that pay i...
UK residents spend 572 hours worrying about debt
Posted by on 19th March 2010 to Debt News
People in the UK spend up to 572 hours a year being stressed out about their finances, claims a new report. The staggering amount of hours adds up to 24 days a year, for the 66 per cent of people surv...
Student debt 'soaring'
Posted by on 18th March 2010 to Debt Consolidation News
More than a quarter of university-goers feel that they will graduate with debts upwards of £20,000. That is according to the latest Sodexo University Lifestyle Survey, conducted by the catering f...
Overdrafts 'should be optional'
Posted by on 18th March 2010 to Debt News
Customers should be given the choice to opt out of overdraft facilities offered by their banks, it has been suggested.Andrew Hagger of price comparison website Moneynet.co.uk said that many people do ...
Unemployment figures 'should be treated with caution'
Posted by on 17th March 2010 to Debt Consolidation News
Official data on unemployment released earlier today (Wednesday, March 17th) should be approached cautiously, Scottish Provident has warned.The figures, published by the Office for National Statistics...
Credit card debt law welcomed
Posted by on 16th March 2010 to Debt News
Plans to introduce new legislation on credit card debt have been praised by a financial management charity.The government has proposed that the law should be amended so that lenders are unable to incr...
New laws to protect UK consumers facing credit card debt
Posted by on 15th March 2010 to Debt News
People in the UK that could be at risk from credit card debt will now have better protection, following joint proposals from the government and the credit card industry. The UK Cards Association and t...
UK mobile phone users too scared to make bill savings
Posted by on 15th March 2010 to Debt News
Mobile phone users in the UK are missing out on £1.5 billion worth of savings every year because they are afraid they will lose their number if they switch networks. According to the research fro...
Wealth 'most important for happiness' in old age
Posted by on 12th March 2010 to Debt News
Being financially secure is more important than being healthy in retirement, according to a new survey.The study from the National Association of Pension Funds (NAPF) of 1,248 workplace employees foun...
Young people risk debt crisis by claiming too much credit
Posted by on 12th March 2010 to Debt News
Young people risk getting into debt through using multiple accounts with overdraft facilities, claims a new report.Research from Callcredit Information Group found that over a quarter (27 per cent) of...
Govt to give electricity bill rebate to pensioners
Posted by on 12th March 2010 to Debt News
Pensioners faced with huge electricity bills are to get £80 rebates from suppliers, under a new government scheme.The Department of Energy and Climate Change and the Department for Work and Pensi...
People wasting £9bn in tax payments that could pay debts
Posted by on 11th March 2010 to Debt News
People in the UK are paying out much more than they need to, while some are cutting down on treats because they are waiting for tax hikes.A new report from Unbiased.co.uk found that households were fa...
Consumers to face tougher times than year before
Posted by on 10th March 2010 to Debt News
Consumers can expect to spend less in the coming year than they did in 2009, claimed one expert.The British Retail Consortium (BRC) revealed this week that high street sales had gone up, but that shop...
Credit unions need to become more government support
Posted by on 10th March 2010 to Debt News
People on low incomes should be able to get a wider range of services from credit unions, claimed an industry body.The Association of British Credit Unions Limited (ABCUL) called on the government to ...
People in debt 'targeted by banks'
Posted by on 10th March 2010 to Debt News
People facing debts are deliberately being targeted by banks, according to a group of MPs in Scotland.The Scottish Affairs Committee called on banks yesterday to stop using "aggressive tactics&qu...
People on low income 'least likely to use the internet'
Posted by on 9th March 2010 to Debt News
People with low incomes are failing to take advantage of the money-saving potential of the internet because they do not see it as important to their lives, claims new research.Consumer Focus has found...
'Use savings to pay credit card debts'
Posted by on 9th March 2010 to Debt News
People faced with mounting credit card debts should pay off the huge rates of interest with their savings, according to finance experts.Last week, it was highlighted that consumers in the UK are in a ...
Men more likely to become insolvent than women
Posted by on 9th March 2010 to Debt News
Men are more at risk of insolvency than women, according to figures from a debt charity.The study from the Consumer Credit Counselling Service (CCCS) found that men were more likely to declare bankrup...
Low earners most affected by recession
Posted by on 8th March 2010 to Debt News
Low earners are the most likely to carry on facing problems after the recession, according to a finance expert.Speaking at the Northern Money Conference at the Contemporary Urban Centre in Liverpool l...
New gas bill cuts 'not substantial enough'
Posted by on 5th March 2010 to Debt News
New cuts to gas bills announced by energy companies will not make any difference to the average customer, claimed one finance expert.Yesterday (March 4th) Scottish and Southern Energy (SSE) announced ...
Shoppers lose £5k each on refunds
Posted by on 5th March 2010 to Debt News
Shoppers in the UK on average lose £4,950 each in their lifetime on faulty goods because they fear asking for refunds, according to a new survey.The government has launched a new campaign called...
Debts have created a 'financially excluded' generation
Posted by on 4th March 2010 to Debt News
High amounts of personal debt in the UK are unlikely to decrease over the next five years, according to a debt expert.Teresa Perchard, director of policy at Citizens Advice, told an audience at the No...
Savings drop to lowest level in two years
Posted by on 4th March 2010 to Debt News
Savings have fallen to their lowest level in over two years, with the British public only setting aside 6.25 per cent of their take-home pay.The results of NS&I's Savings Survey suggest that those...
Cost of living higher than ever for old people
Posted by on 4th March 2010 to Debt News
Older people may find themselves struggling with debts, as a new survey reports that the annual cost of living has increased by over £770 in the past year.MGM Advantage, a retirement specialist, ...
'Lost generation' dependent on parents for debt help, finds report
Posted by on 3rd March 2010 to Debt News
Parents are seeing their hard-earned savings decline, as they give out ever larger sums of money to pay off their adult children's debts.A report from Scottish Widows Savings and Investments has found...
Nearly half of UK has no protection against job loss
Posted by on 3rd March 2010 to Debt News
Just under half of the UK (24 million) has no insurance in place to provide financial protection in the event of job loss, despite the tough economic climate. Research for insurers Friends Provident f...
Poor face more money worries under new benefit plans
Posted by on 2nd March 2010 to Debt News
Government plans to cut off incapacity benefits for the long-term sick have been criticised by a campaign group on taxes. The Low Incomes Tax Reform Group has said that the move of incapacity claimant...
Repossessions set to rise in UK
Posted by on 1st March 2010 to Debt News
Rising mortgage repayments will mean more repossessions and sales of distressed property, claims a new expert report. The Royal Institute of Chartered Surveyors has predicted that investors in the UK ...
