Debt News
PAYE Blunder
Posted by Sam Smith on 8th September 2010 to Debt News
A error by the tax office has left millions of people either owing monies or in receipt of refunds due to overpayments to tax office. Around 5.7 million people are said to be affected by the PAYE blu...
Banks - 'Setting Off'
Posted by Sam Smith on 6th September 2010 to Debt News
There has been an 80% rise in banks taking money from customers current acocunts to pay off debts in other accounts, such as credit card balances, according to a report by Citizens Advice The practic...
Rising Student Loan Rates
Posted by Sam Smith on 1st September 2010 to Debt News
It was announced this week that the zero rate of interest on student loans has been scrapped. The Student Loans company advise that students who took a loan after 1998 will be charged 1.5% interest ...
Benefit Health Check
Posted by Sam Smith on 23rd August 2010 to Debt News
The majority of people in the UK are unaware that although working, they are entitled to some sort of tax benefit – therefore missing out on crucial funds.. Benefits maybe available for those in th...
Mortgage Lending on the up..?
Posted by Sam Smith on 19th August 2010 to Debt News
New figures released today show that Mortgage lending is back on the up, but Andrew Montlake, of mortgage broker Coreco, said the market was "by no means close to returning to normal". "Mortgage len...
Wheel Clampers - Clamped!
Posted by Sam Smith on 18th August 2010 to Debt News
Wheel clampers will be banned from operating on private land, in was revealed yesterday. This is a government bid to stop rogue companies charging extortionate fees to motorists. Only police or coun...
Wheel Clampers - Clamped!
Posted by Sam Smith on 18th August 2010 to Debt News
Wheel clampers will be banned from operating on private land, in was revealed yesterday. This is a government bid to stop rogue companies charging extortionate fees to motorists. Only police or coun...
Child Trust Fund Changes
Posted by Sam Smith on 1st August 2010 to Debt News
Today was the last day that parents of newborns will receive the £250 CTF voucher. Any baby born after this date will receive a standard £50 (formerly £250), with those in low income families rece...
Hefty Mortgage Deposits
Posted by Sam Smith on 29th July 2010 to Debt News
Although the number of mortgage deals have increased this year, in the majority these deals mean a first time buyer deposit of 25% is required, which according to statistics from the Council of Mortga...
Increase your earnings
Posted by Vicky James on 19th July 2010 to Debt News
Are you finding it a struggle to keep on top of your finances? Maybe you just need to increase your earnings and bring a little more money in to make sure your bills or covered, or are looking to earn...
UK Public Sector Debt
Posted by Sam Smith on 14th July 2010 to Debt News
Figures released today show that the UK’s debt problem within the Public sector could be £4trillion higher than previously thought. A study carried out by the ONS (Office for National Statistics)...
Costly World cup
Posted by Sam Smith on 12th July 2010 to Debt News
Congratulations to Spain winning the World cup, good news for their followers who would have spent a fortune on following them the South Africa! Not so good for Engand Fans – yes we’re over it no...
UK House Prices Falling
Posted by Sam Smith on 9th July 2010 to Debt News
A recent survey has found that house prices have yet again dropped this summer, with the average home in the UK now valued at £166,203 according to Halifax figures. Good news for buyers? You would th...
7 Year Fixed Rate Mortgages
Posted by Sam Smith on 7th July 2010 to Debt News
Platform the intermediary mortgage lender of the Co-op, has recently launched its 7 year fixed rate mortgage – an alternative to the standard two, five or ten years. According to Platform, the lend...
Underpaid at Work?
Posted by Sam Smith on 6th July 2010 to Debt News
Have you been in your job a while but are constantly worrying about being able to afford to live on your current salary, but dont want to leave as you enjoy your role so much? Most Employees do not re...
Money Saving Holiday Ideas
Posted by Sam Smith on 5th July 2010 to Debt News
With the UK experiencing some of the hottest weather since 1976, it comes as no suprise that many are choosing to save their pennies and take a UK holiday. Most popular destinations are North Wale...
Tax Credits - Renew Now
Posted by Sam Smith on 1st July 2010 to Debt News
The vast majority of families with children qualify for tax credits, however you don't need to have children to claim. You may also qualify if you are working and on a low income. If you have been c...
£5 only cash machines
Posted by Sam Smith on 29th June 2010 to Debt News
ATM operator Bank Machine has installed 21 cash machines over UK that only dispense five pound notes. This has been launched to help people who are on a budget and maybe finding it hard to keep on top...
The Budget
Posted by Sam Smith on 28th June 2010 to Debt News
The cuts include those claiming Incapacity benefits and Housing benefits which could affect those who are claiming either benefit and suffering with debt problems. Those claiming Incapacity benefit...
Fans should beware ticketing scams
Posted by on 28th May 2010 to Debt News
UK football fans travelling abroad to see matches could find themselves targeted by scammers.The Office of Fair Trading has launched a new campaign dubbed Just Tick It to warn fans off buying tickets ...
Families destroyed 'by poor finances'
Posted by on 28th May 2010 to Debt News
More than one million families in the UK have found that relationships have become worse because of ongoing money pressures after the recession, according to a new survey.The Clydesdale and Yorkshire ...
£300m wasted on 'online bargains'
Posted by on 28th May 2010 to Debt News
UK consumers waste £300 million annually because they think online prices are guaranteed to be cheaper than the higher street, claims a new survey.Research by InvisibleHand found that consumers f...
Rip-off deals to be investigated
Posted by on 28th May 2010 to Debt News
Supermarket deals and bargains should not aim to mislead consumers, claims a new report.The Office of Fair Trading has published a paper debating whether to apply consumer protection laws to shop pric...
'More consumer protection will get more people into debt'
Posted by on 28th May 2010 to Debt News
Plans to toughen up consumer protection laws on store finance could force more people into serious debt, claims one industry body.The Finance and Leasing Organisation (FLA) has criticised government p...
Child Trust Funds 'did not achieve goal'
Posted by on 28th May 2010 to Debt News
Child Trust Funds (CTFs) did not encourage the savings culture that the UK needs, according to one finance expert.The £250 vouchers, introduced by the last administration, were intended to kick-s...
British people 'impatient' with products
Posted by on 27th May 2010 to Debt News
More than eight out of ten Britons get annoyed by having to wait to use a product they have already paid for, claims a new survey.Aviva has found that 81 per cent of the people surveyed admit to being...
Reforms to tackle 'in-work poverty'?
Posted by on 27th May 2010 to Debt News
Welfare reform must create a safety net which can help people return to better-paid work, claims one charity group.The government yesterday announced its plans for restructuring the benefits system an...
Old mobile phones worth up to £85m
Posted by on 27th May 2010 to Debt News
Mobile phone users do not realise the cash value of their old handsets, claims a new survey.Consumer Focus has found that almost seven out of ten people with mobile phones have at least one spare at h...
Govt 'needs to support families'
Posted by on 26th May 2010 to Debt News
The government's welfare reform bill needs to be fair on poor families, claims one charity.Yesterday's (May 25th) Queen's Speech set out government plans for the new bill.Proposals included the creati...
Consumer protection plans 'could make borrowing tougher'
Posted by on 26th May 2010 to Debt News
Tougher regulation on account charges could see banks scurrying to make their money back from customers in other ways, according to one finance expert.Lenders will no longer to be able to charge "...
Private sector firms 'could cut corners on redundancy'
Posted by on 25th May 2010 to Debt News
Workers in the private sector need to find out exactly what their redundancy entitlements are if they think their company is facing financial difficulties, according to one finance expert.Public spend...
Fergie faces debt crisis
Posted by on 25th May 2010 to Debt News
Sarah Ferguson has apologised for attempting to sell access to her former husband the Duke of York in a bid to earn money to clear her debts.The former royal was exposed by newspaper the News of the W...
Staff fraud increases during the recession
Posted by on 25th May 2010 to Debt News
Staff fraud almost doubled last year, according to new figures.CIFAS, the UK's Fraud Prevention Service, revealed that workplace crimes rose by 45 per cent on 2008 levels.The report's authors put the ...
'Get help before turning to loan shark'
Posted by on 24th May 2010 to Debt News
People struggling with serious debt should get help before turning to loan sharks, according to one expert.The Office of Fair Trading has launched a campaign to highlight the dangers of loan sharks.Un...
Public sector job cuts could have 'double-dip' effect
Posted by on 24th May 2010 to Debt News
The chancellor is expected to announce today (May 24th) where £6 billion worth of public spending cuts will fall.Around 30,000 public sector jobs could go, the Daily Mail has reported.Rocketing u...
Online gamblers risk sky-high interest
Posted by on 24th May 2010 to Debt News
Gambling with credit cards can result in serious debts, according to one finance expert.A report by moneysupermarket.com last week found that most high street lenders treat gambling as a cash transact...
Cutting child tax credits 'could push more children into poverty'
Posted by on 21st May 2010 to Debt News
Cutting child tax credits could reverse a decline in child poverty, according to one campaign group.The Department for Work and Pensions released new figures this week revealing that around 100,000 ch...
Payment insurance on cards 'just a banking premium'
Posted by on 21st May 2010 to Debt News
Making a claim with payment protection insurance (PPI) was near impossible, according to one finance expert.The Competition Commission took a provisional decision last week to ban PPI at the point-of-...
Store cards borrowers get 'cooling-off' period
Posted by on 21st May 2010 to Debt News
The new 'cooling-off' period for store cards could stop people getting into debt, according to one industry expert.Insolvency experts have welcomed the government's introduction of a seven-day 'coolin...
Working from home adverts 'are often cons'
Posted by on 21st May 2010 to Debt News
Home-based jobs can often be 'too good to be true', according to a new report.An investigation by the consumer magazine Which? into online and print ads for home workers found that most of them asked ...
Employers 'can offer a sympathetic ear' for debt problems
Posted by on 20th May 2010 to Debt News
Employers could play a crucial role in helping their staff with debt problems, claims one debt charity.The Consumer Credit Counselling Service is urging bosses to lend a sympathetic ear to workers who...
Debtors need 'breathing space from creditors'
Posted by on 20th May 2010 to Debt News
Debtors need to be given breathing space from creditors while they think about options for sorting out money troubles, according to one industry body.R3, the insolvency trade association, revealed thi...
Watchdog alerts 38,000 on share scam
Posted by on 20th May 2010 to Debt News
More than 38,000 UK names and addresses have been found on a master list used by boiler room companies here and abroad.The Financial Services Authority (FSA) is in the process of contacting these peo...
Everyday costs hitting over-50s hardest
Posted by on 19th May 2010 to Debt News
Adults in the pre-retirement age group are being hit hardest by inflation rates, according to new figures.The latest research from the Alliance Trust shows that people between 50-64 are seeing the big...
Credit cards 'have hidden interest penalties'
Posted by on 19th May 2010 to Debt News
Credit card providers are penalising users by charging cash withdrawalinterest rates on common travel transactions.Research from moneysupermarket.com found that some providers arecharging unexpectedly...
Men struggling hardest during recession
Posted by on 19th May 2010 to Debt News
Men are likely to find it the hardest to cope with money problems, claims one expert.The recession may have affected more men than women, as the former were most hit by job losses.New research from AX...
One in 10 'will never retire'
Posted by on 19th May 2010 to Debt News
One in ten adults think they might never stop working, claims a new report. Aviva's Real Retirement report has found that 68 per cent of people surveyed plan to carry on working in some capacity after...
UK consumers 'still holding back on high street'
Posted by on 18th May 2010 to Debt News
People in the UK are unwilling to hit the high streets while their jobs are at risk, according to one industry expert.The British Retail Consortium's index revealed this week that consumer confidence ...
Call for debt help increase
Posted by on 18th May 2010 to Debt News
There has been a rise of almost a quarter (23 per cent) in the number of people requesting debt help, according to one charity.Citizens Advice has released its annual advice statistics, which show tha...
Payment protection ban welcomed by debt charities
Posted by on 17th May 2010 to Debt News
Banning the sale of payment protection insurance at the counter could be a vital step towards better consumer protection against debt, claims one advice charity.Payment protection insurance (PPI) can ...
Child tax credits lifeline to be cut off?
Posted by on 17th May 2010 to Debt News
Families who have got an unused Child Trust Fund (CTF) voucher should put it into a savings account straight away, according to one finance expert.Writing in the Daily Mail, Stephen Womack outlines g...
Women need to cushion financial blows
Posted by on 15th May 2010 to Debt News
More than half of women have no life insurance policy in place, despite taking on almost all of the finances in their household.The recession saw more male redundancies and figures indicated that one ...
Discount dining stays on the menu
Posted by on 14th May 2010 to Debt News
People in the UK have taken to discount dining in a bid to beat the squeeze on consumer spending, according to new research.People in the UK have taken to discount dining in a bid to beat the squeeze ...
Changing travel rules could push low-income people out of work
Posted by on 14th May 2010 to Debt News
Forcing some employers to stop incorporating travel expenses into minimum wages could push low-income people out of work, according to one campaign group.The Low Incomes Tax Reform Group has called fo...
'Help struggling people keep their homes', urges charity
Posted by on 14th May 2010 to Debt News
People struggling with serious debts need continuing support to keep their homes, one advice charity has urged the new government.The Council of Mortgage Lenders (CML) released figures this week showi...
'Credit card incentives require discipline'
Posted by on 12th May 2010 to Debt News
Failing to pay off the full amount on your credit card every month can wipe out its incentives, according to one finance expert.Earlier this month moneysupermarket.com found that more than half (56 pe...
Household budgets 'will face even more pressure'
Posted by on 12th May 2010 to Debt News
Household budgets across the UK are under pressure because of the economic climate, according to new data.Alliance Trust's UK Financial Reality index, which measures financial well-being, found that t...
How to ask for cash presents on your wedding day
Posted by on 11th May 2010 to Debt News
Couples who want to ask for cash presents for their wedding should not feel embarrassed, according to one marriage expert.Though most people blow the budget for the big day, many people still think it...
Budgeting families could face holiday compensation troubles
Posted by on 11th May 2010 to Debt News
Families on tight budgets may have trouble getting compensation, as airlines clamp down on pay-outs for the volcanic ash disruptions.It was announced today (May 11th) that airports would once again be...
Personal insolvencies 'will continue to be high'
Posted by on 11th May 2010 to Debt News
Personal insolvencies will continue to be very high until employment prospects become more promising, according to one debt expert.The Insolvency Service reported last week that personal insolvencies ...
Know your saving limits, says report
Posted by on 10th May 2010 to Debt News
Savers should make sure they know the limits on their account if they want to rake in interest, according to a new report.Moneysavingexpert.com has highlighted how people with high-interest accounts c...
'Credit cards better than store cards for interest'
Posted by on 10th May 2010 to Debt News
Credit cards offer much better interest rates than store cards, according to one finance expert.Recent research has shown that the popularity of store cards has declined, despite tougher economic circ...
Guests 'spending hundreds' to attend weddings
Posted by on 7th May 2010 to Debt News
People in the UK are paying out an enormous £10.45 billion every year just to attend the weddings of their friends and families.Research from Santander found that the average guest spends £3...
Debt management key as insolvencies hit record high
Posted by on 7th May 2010 to Debt News
Personal insolvencies in England and Wales hit a record high during the first quarter of 2010, indicating the ongoing importance of debt management in the current economic climate.The number of indivi...
UK people 'too stressed' to face finances
Posted by on 30th April 2010 to Debt News
A new survey has found that people in the UK are "burying their head in the sand" about the state of their finances.Scottish Widows Priorities for Life found that over a third (36 per cent) ...
Identity crime on the rise
Posted by on 30th April 2010 to Debt News
Identity fraud rose sharply in the first quarter of 2010, according to new figures.CIFAS, the national fraud prevention service, said that the crime had become more sophisticated. Around 27,000 people...
Holiday breaks 'are vital for poor families'
Posted by on 29th April 2010 to Debt News
Poor families need to be able to get away for breaks, according to one charity.Speaking ahead of the Bank Holiday weekend, the Family Holiday Association has highlighted how important it is to be able...
State-owned banks have the poorest service
Posted by on 29th April 2010 to Debt News
Banks bailed out by the taxpayer offer the worst customer service, according to a survey by a consumer magazine.Which? found that smaller banks and building societies headed the list for customer sati...
UK loses £3.5bn a year from forcing out older workers
Posted by on 28th April 2010 to Debt News
The UK loses around £3.5 billion a year from forcing older workers into retirement, according to one campaign group.Age UK called on all three political parties to commit to getting rid of the re...
New finance education body 'will not change debt culture'
Posted by on 28th April 2010 to Debt News
Finance education is unlikely to radically change people's attitude to spending, according to one expert.The Consumer Financial Education Body (CFEB) was established earlier this week, with the aim of...
Being eco-friendly should not cost the earth, claims expert
Posted by on 28th April 2010 to Debt News
It should be easier for people of all incomes to be eco-friendly, according to one industry expert.Some people may find making energy-efficiency measures too costly.Tony Rooke, of the business and tec...
Pay freezes to impact further on household incomes
Posted by on 27th April 2010 to Debt News
UK consumers will have to continue struggling with day-to-day costs as employers refuse to lift pay freezes.New research from the Chartered Management Institute (CMI) has found that almost half (48 pe...
One missed credit payment 'can lead to debt spiral'
Posted by on 27th April 2010 to Debt News
Missing one credit card payment on a balance transfer card can result in a poor credit rating, as well as huge interest charges.Moneysupermarket.com has calculated how balance transfer cards can resul...
People still repaying Christmas debts
Posted by on 26th April 2010 to Debt News
People in the UK have stopped saving in order to pay off Christmas debts, according to a new report.ING Direct's latest Consumer Savings Monitor shows that the average person now only has around 1.6 t...
Fewer than one in ten in UK 'happy with finances'
Posted by on 26th April 2010 to Debt News
People in the UK believe that they need to be earning almost double the national average in wages to be happy, according to a new survey.Lovemoney.com found that the people polled thought they needed ...
Debt secrets in UK amount to more than £55bn
Posted by on 23rd April 2010 to Debt News
People in the UK are hiding their debt problems from their partners and loved ones, according to new research. The Post Office found that over a fifth (21 per cent) of people surveyed did not want to ...
British people save over £2bn with bargain vouchers
Posted by on 23rd April 2010 to Debt News
British people have saved around £2.5bn by using vouchers, according to new research. Moneysupermarket.com reported that people in the UK now redeem around 2.4 million discount vouchers every day...
More people fear card fraud than violent crime
Posted by on 23rd April 2010 to Debt News
People in Britain are three times more likely to worry about credit card fraud than violent crime, according to new figures. The Home Office's latest British Crime Survey revealed that over half of pl...
UK banks fail at customer service
Posted by on 22nd April 2010 to Debt News
Consumers in the UK believe that banks provide poor customer service, according to new research.Moneysupermarket.com's new annual industry service rankings found that hairdressers retained their place...
Workers need protection against economic uncertainty
Posted by on 22nd April 2010 to Debt News
The latest UK unemployment figures mean that people should be wary about listening to political party pledges on jobs, claims one finance expert. Numbers of people out of work have risen to 2.5 delete...
Younger generation show financial savvy
Posted by on 22nd April 2010 to Debt News
Children are willing to take responsibility for their own finances at a younger age than ever before, claims new research. Halifax's latest survey found that the younger generation is keen to learn mo...
British people having sleepless nights over money
Posted by on 22nd April 2010 to Debt News
People in the UK are finding it hard to get to sleep at night because they are so worried about money and work. A new survey of 3,043 adults by the Cambridge Weight Plan found that the average bedtime...
Living costs rise for older generation
Posted by on 21st April 2010 to Debt News
Living costs for UK people aged 50 to 64 are rising fastest, according to new figures.The Alliance Trust Research Centre has found that the pre-retirement group are facing the highest rates of inflati...
More expats to stay abroad permanently
Posted by on 21st April 2010 to Debt News
UK expatriates believe their lifestyle there is better, claims a new report.A new survey from NatWest found that nine out of ten expatriates (89 per cent) feel they are more financially secure.Less th...
Household income squeeze dampens economic forecast
Posted by on 20th April 2010 to Debt News
UK consumers are too debt-ridden to be the key to economic recovery for the country, according to new research.Ernst & Young's ITEM Club forecast for 2010 found that government expectations of inc...
Buyers with small deposits hit hardest with mortgage rates
Posted by on 20th April 2010 to Debt News
Prospective home owners who take on 90 per cent loans to get on the housing ladder may face high rates.New research from Defaqto compared the rates faced by two borrowers wanting £150,000 mortgag...
Cutting back on insurance can ruin holidays, claims research
Posted by on 19th April 2010 to Debt News
Holiday-makers keen to reduce costs because of the economic climate are failing to take out insurance, a new report has shown.Research from Direct Line revealed that the number of travellers without i...
Young people 'semi-grating' to wait out UK recession
Posted by on 19th April 2010 to Debt News
Workers between 18 and 30-years-old are increasingly starting to think about moving abroad to wait for tough economic conditions in the UK to end.Aviva UK Health has found that over 5.5 million worker...
Low cost shared housing plans creates political row
Posted by on 16th April 2010 to Debt News
Plans to make bad landlords apply for planning permission to create bedsits and other multiple occupancy accommodation could be scrapped after a Tory intervention.David Cameron laid down a parliamenta...
Credit card companies 'penalising borrowers'
Posted by on 16th April 2010 to Debt News
UK borrowers with good credit histories are being penalised by UK credit card companies, claims a newspaper report.According to the Daily Mirror, several well-respected high street names have hiked up...
Making borrowing tougher could be 'way forward', says finance expert
Posted by on 16th April 2010 to Debt News
The next government will have to force people into saving, according to one money expert. A recent poll by savings campaign group Save Our Savers has shown that just over a fifth of people surveyed (2...
Government needs to get more young people into work, says report
Posted by on 15th April 2010 to Debt News
The government needs to help more young people into employment, claims a new report from an international body.Echoing the findings of a recent report from a UK parliamentary committee, the research f...
Consumer confidence slips ahead of uncertain election result
Posted by on 15th April 2010 to Debt News
People are cutting back on spending on the high street because they are worried about the impact of a new government on their pay-packets, according to a new report.Nationwide's monthly consumer confi...
Disappearance of store cards 'are no loss', says expert
Posted by on 15th April 2010 to Debt News
Consumers will benefit from the phasing out of store cards by retailers, according to one finance expert.Government pressure for fairer lending practices has meant that more high street names are offe...
Energy customers faced with 'shock' bills
Posted by on 15th April 2010 to Debt News
Almost a third of UK households have had to pay up more money for fuel bills after being billed incorrectly by suppliers, according to new research.uSwitch.com has found that the average misreading no...
Living together can save £5bn for average couple
Posted by on 14th April 2010 to Debt News
UK couples that choose to live separately could save £5 billion annually on accommodation costs by moving in together, according to new research.Santander has found that the average couple who ha...
High earners have increased life expectancy
Posted by on 14th April 2010 to Debt News
People with low incomes have a reduced life expectancy, claims new research.Hymans + Robertson found that income is one way of determining the average life expectancy of an area within a single year, ...
More card usage could increase debt?
Posted by on 14th April 2010 to Debt News
The use of debit cards for transactions under £10 is set to increase, according to a new report.Those with debt problems may find it harder to track their spending if they use their debit cards o...
New Lib Dem bank proposals could 'exclude poor'
Posted by on 13th April 2010 to Debt News
Poor people could be forced to seek out lenders with even higher interest rates if banks are forced to cap rates on cards, according to money experts.Moneysupermarket.com has commented on the manifest...
UK expats suffering as pound's value declines
Posted by on 13th April 2010 to Debt News
UK expats have found themselves unable to manage everyday costs because of the weakness of the pound, claim relocation experts.A report in the expat magazine Shelter Offshore found that expats who rec...
Kids' appetite for new technology trends costs £400 a year
Posted by on 13th April 2010 to Debt News
Children – or their parents – spend around £383 a year in new technology, claims a new report.Halifax found that keeping up with what's fashionable in the playground can be highly expen...
Short-term debt relief measures are a 'timebomb'
Posted by on 12th April 2010 to Debt News
UK consumers may be in for an insolvency 'timebomb' unless the government comes up with some long-term solutions to address the record level of personal debt, according to one legal expert.Eleven per ...
People under 40 look online first for debt help
Posted by on 12th April 2010 to Debt News
People under the age of 40 are most likely to seek help online for their debt problems, according to new figures from a debt charity.Consumer Credit Counselling Service (CCCS) reported that two-thirds...
Fuel price hikes to make life tougher for millions
Posted by on 9th April 2010 to Debt News
Consumers in the UK will now to have to pay up to £119.9p for a litre of unleaded petrol, which could leave many struggling with daily costs of family life and travelling to work.Despite the gove...
Repaying debt is main priority for quarter of UK population
Posted by on 9th April 2010 to Debt News
Repaying debts this year is one of the main financial priorities for people in the UK, claims new research.John Gilbert Financial Research has found that well over two thirds (79 per cent) of adults i...
Financial education for schoolchildren 'to be scrapped'
Posted by on 9th April 2010 to Debt News
Making financial education in schools compulsory should remain a priority despite this government's failure to push the initiative through parliament, claims one angered debt advice group.Credit Actio...
Childcare costs 'too expensive' for many families
Posted by on 7th April 2010 to Debt News
A new survey shows that more fathers are staying at home to look after their children, meaning that couples with dependent children could struggle with reduced incomes.More fathers are staying at home...
Average UK resident has more than £6k debt
Posted by on 7th April 2010 to Debt News
A new survey has found that people in the UK have accumulated more than £6,000 worth of debt on consumer goods and loans for big personal occasions.Lovemoney.com found in its poll of 3,000 people...
Over third pay for dental health 'on credit'
Posted by on 6th April 2010 to Debt News
People struggling financially may find themselves further in debt because they have to borrow money for vital dental work, according to a new survey.Simplyhealth's Annual Dental Survey 2010 has found ...
Debt problems could mean putting off 'the big decisions'
Posted by on 6th April 2010 to Debt News
Plans to get married, get divorced, have children or take a year out of work are not going to be delayed for one in eight because of the economic climate, according to new research.A survey by the Cly...
Inheritances on the way out?
Posted by on 6th April 2010 to Debt News
Adults in the UK are now as likely to expect a "pre-inheritance" from their parents as they are a traditional inheritance, but less than a fifth of parents can afford to give money away in t...
UK people could save £3.6bn by switching energy providers
Posted by on 1st April 2010 to Debt News
People in the UK are losing around £3.6 billion a year by not switching to cheaper energy providers, out of misguided loyalty, according to a new survey.Moneysupermarket.com has found that househ...
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...
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 ...
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 ...
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...
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...
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...
Low interest rates 'benefiting those with debt problems'
Posted by on 29th January 2010 to Debt News
Those with mortgage debt problems have been the big beneficiaries of low interest rates, an expert has claimed.David Kuo, director of the Motley Fool, claimed that this has left many people with addit...
Car insurance price hike 'could hit those with debt problems'
Posted by on 29th January 2010 to Debt News
Those with debt problems could find themselves struggling, following a seven per cent rise in car insurance premiums during the last three months of 2009.The AA British Insurance Premium Index has rec...
Debt problems 'will not be immediately helped by economic growth'
Posted by on 27th January 2010 to Debt News
People's debt problems will not improve quickly following the UK's exit from the recession, an expert has claimed.Malcolm Hurlston, chairman of the Consumer Credit Counselling Service, claimed that th...
VAT rise 'could exacerbate debt problems in the new year'
Posted by on 27th January 2010 to Debt News
Those facing debt problems will spend less in the new year due to the reintroduction of the normal rate of value-added tax (VAT).One in two intend to go back to more restrained spending habits, with 4...
Parent's debt problems 'can disadvantage children'
Posted by on 27th January 2010 to Debt News
Parents in debt can affect large numbers of the UK's families, a new report has suggested.A study by the National Equality Panel has highlighted the importance of tackling child poverty due to the dis...
Recession's end 'could be good news for those in debt'
Posted by on 26th January 2010 to Debt News
The recession has ended after a year and a half of economic shrinkage, new figures have shown, which could relieve those with debt problems.Numbers published by the Office for National Statistics have...
FSA 'highlights banks' obligations to those with debt problems'
Posted by on 26th January 2010 to Debt News
New measures have been announced that are designed to protect those who have fallen into arrears with their debt.The Financial Services Authority (FSA) aims for these proposals to ensure that mortgage...
People with debt problems 'do not trust banks to treat them well'
Posted by on 25th January 2010 to Debt News
Only seven per cent of British people trust their banks to treat them fairly, those with debt management problems may be concerned to discover.Money.co.uk conducted research that found fewer than one ...
Those with debt problems 'need more support'
Posted by on 22nd January 2010 to Debt News
It is crucial that more support is offered to people with debt problems, an expert has claimed.Rhian Beynon, head of policy and campaigns at Family Action, claimed that the recession is putting pressu...
Fewer people will be able to get in debt following recession
Posted by on 22nd January 2010 to Debt News
People will turn away from getting into debt following the aftermath of the recession, an expert has claimed.Jasmine Birtles, founder of consumer site moneymagpie.com, claimed that the downturn has be...
Cheaper insurance deals 'could help those with debt problems'
Posted by on 21st January 2010 to Debt News
Those struggling with debt problems should try and switch provider to find a cheaper deal rather than losing their insurance, an expert has claimed.Neil Munroe, external affairs director for Equifax, ...
Gold-buyers 'often offer those with debt problems poor prices'
Posted by on 21st January 2010 to Debt News
People with debt problems must avoid selling their gold by mail, as services which offer this option are often bad value, it has been claimed.The results of a Which? Money investigation showed that bu...
Credit card firms 'must offer more debt help'
Posted by on 20th January 2010 to Debt News
Credit card providers must make sure that they offer help to those with debt management problems, it has been claimed.Moneysupermarket.com has highlighted the importance of these companies being compe...
8% rise in those relying on debt to cover living expenses
Posted by on 20th January 2010 to Debt News
Eight per cent more people will be relying on debt to fund their day-to-day living expenses this month, new figures show.Research published by the Post Office shows that 38 per cent will be turning to...
Debt problems could be eased by falls in personal loan rates
Posted by on 20th January 2010 to Debt News
New figures show that the number of people getting into debt with personal loans is falling, with interest for these beginning to drop.Statistics published by moneysupermarket.com showed that the aver...
Cost of living rise 'could hurt those with debt problems'
Posted by on 19th January 2010 to Debt News
People face a rising cost of living that could impact on their ability to cope with debt, it has been claimed.David Kuo, director of Fool.co.uk, claimed that inflation has risen from 1.9 to 2.9 per ce...
Debt problems 'being made worse by wasted spend on mobile contracts'
Posted by on 19th January 2010 to Debt News
People with debt problems are spending far too much on their phone contracts and are wasting much of this money, research has suggested.Figures published by moneysupermarket.com found that the UK spen...
Families in debt 'could face 10% higher winter fuel bill'
Posted by on 19th January 2010 to Debt News
People struggling with debt problems could be forced to pay an additional ten per cent on their energy bills following the recent snow, it has been claimed.Moneysupermarket.com has claimed that £...
Debt fears 'leading couples to put off having children'
Posted by on 18th January 2010 to Debt News
People's fears about debt problems could be causing them to delay having children, new research has suggested.Figures published by Shelter show that 18 per cent of young adults are putting this off ou...
Debt problems 'could be worsened by cold snap'
Posted by on 18th January 2010 to Debt News
Two thirds of homeowners have expressed their concern about the financial repercussions of the recent spate of cold weather, which could be sparked by their debt worries.Figures published by Which? ma...
44% of households 'rely on two incomes to meet debt obligations'
Posted by on 18th January 2010 to Debt News
Problems with debts have lead to 44 per cent of UK households relying on at least two salaries, new figures suggest.Research by Scottish Widows has found that this increases in those families with chi...
Turning to illegal borrowing 'will fuel debt problems'
Posted by on 18th January 2010 to Debt News
The poor availability of credit is meaning that many people are turning to illegal moneylenders, which is making their debt problems worse.Faisel Rahman, board member of charity Debt on our Doorstep, ...
Blue Monday 'can highlight debt problems'
Posted by on 18th January 2010 to Debt News
Today (January 18th) is known as the most unhappy day of the year for a number of reasons, including the fact that this is the day most people feel overwhelmed by their debt.Simon Read, writing for th...
Low mortgage rates 'good news for those with debt problems'
Posted by on 15th January 2010 to Debt News
Those with debt problems have benefited from a reduction in mortgage rates, it has been claimed.Figures published by Moneyfacts.co.uk show that this advantage could allow people to pay off more of the...
Cold weather 'impacting on those with debt problems'
Posted by on 15th January 2010 to Debt News
More support must be given to help those with debt problems avoid suffering during the cold weather, a thinktank has claimed.The Institute for Public Policy Research claims that the deaths predicted t...
People with debt problems 'could be hit by rising food prices'
Posted by on 15th January 2010 to Debt News
Those struggling with debt problems could be hit by rising food prices if a supermarket ombudsman is introduced, an expert has claimed.Richard Dodd, head of media and campaigns at the British Retail C...
Recession 'may not change borrowing habits'
Posted by on 14th January 2010 to Debt News
People have become no more likely to pay off their debts quickly due to the recession, an expert has claimed.Chris Tapp, director of Credit Action, claimed that Britain is continuing to enjoy its love...
Rising cost of living 'leaves retirees facing debt'
Posted by on 14th January 2010 to Debt News
Those in retirement are increasingly entering debt as their incomes are falling beneath the cost of living, new figures show. Research by MGM Advantage reveals that there is approximately a £429 ...
Loyalty to banks 'can make debt harder to repay'
Posted by on 13th January 2010 to Debt News
Those looking to alleviate their debt problems by signing up to the best financial deals should not feel loyal to their bank, an expert has advised.David Black, banking specialist at research firm Def...
Identifying debts 'is first step to tackling them'
Posted by on 13th January 2010 to Debt News
Working out how much a person owes is the first step to tackling this debt, an expert has claimed.Steve Bucci, president of Money Management International Financial Education Foundation, recently told...
Debt management plans 'must be realistic'
Posted by on 12th January 2010 to Debt News
Those who have borrowed on a credit card must make sure they develop a realistic plan for repaying their debt, it has been claimed. Moneysupermarket.com warned that the nine million people who have pa...
Splurging in the sales 'can make debt problems worse'
Posted by on 12th January 2010 to Debt News
Those with debt problems need to be more constrained in the January sales, as approximately £2 billion has been spent on items considered to be a 'waste of money', research suggested. A study by ...
One in four parents 'anxious about financial security'
Posted by on 11th January 2010 to Debt News
A quarter of parents worry about their financial security which could show an anxiety about debt problems, an expert has claimed.Figures published by Scottish Widows show that 32 per cent feel they ar...
Homeowners 'using credit cards to meet mortgage repayments'
Posted by on 11th January 2010 to Debt News
New research shows that over one million people in Britain use credit cards to pay for their mortgages and rent.Figures published by Shelter have shown four per cent have resorted to borrowing to pay ...
Majority make money-based resolutions including tackling debt
Posted by on 8th January 2010 to Debt News
The majority of those making New Year's resolutions have committed to doing something money-related, new research suggested.Figures published by Which? magazine found 56 per cent took this course of a...
John Healey: Tackle your debt problems this year
Posted by on 8th January 2010 to Debt News
People should make a new year resolution to tackle their mortgage worries and overcome their debt problems, the housing minister has claimed.John Healey advised people take control of their finances i...
Bank of England 'holds interest rates at 0.5%'
Posted by on 8th January 2010 to Debt News
The Bank of England has maintained interest rates at 0.5 per cent, which could be good news for those with debt problems.In addition to the Monetary Policy Committee's decision to allow this to remain...
People 'tackling debt problems while interest rates stay low'
Posted by on 7th January 2010 to Debt News
Low interest rates are inspiring many people to try and pay off as much of their debt as they can, it has been claimed. Ed Bowsher, head of consumer finance at advice site lovemoney.com, claims that s...
Couples remain living together after break-ups 'due to debt'
Posted by on 7th January 2010 to Debt News
One in four separated couples are being forced to stay in the same house together because of the downturn, partly due to the fear of debt. Research by Easyroommate.co.uk has found that two thirds cont...
Paying off debt 'big new year resolution this year'
Posted by on 6th January 2010 to Debt News
Among the most popular new year resolutions this year has been the commitment to get out of debt, new research has shown.Figures published by social network CitySocialising found 16.2 per cent of Brit...
UK personal debt grows 0.7% in November
Posted by on 6th January 2010 to Debt News
Personal debt at the end of November reached £1,459 billion for the UK, a year-by-year growth of 0.7 per cent.Total lending rose by £1.1 billion, with secured borrowing rising by £1.5 b...
People's financial confidence 'falling'
Posted by on 6th January 2010 to Debt News
Consumer confidence has fallen to its lowest level since November 2008, which could be due to people's debt problems weighing on their minds.Figures published as part of the Nationwide Consumer Confid...
Boiler scrappage scheme 'could help those with debt problems'
Posted by on 5th January 2010 to Debt News
The government has announced a new scheme designed to reduce people's fuel bills, which could help those with debt problems.As of today, the boiler scrappage scheme will allow those with G-rated boile...
New year 'key period to get debts under control'
Posted by on 5th January 2010 to Debt News
It is crucial that people get their debt under control in the new year to prevent themselves struggling, an expert advises.Beccy Boden-Wilks, debt advice expert at the National Debtline, tells the Dai...
Young people 'must receive help with debt problems'
Posted by on 5th January 2010 to Debt News
Steps need to be taken to help young people cope with the emotional consequences of debt problems, a charity has claimed.Sarah Brennan, chief executive of YoungMinds, claims that the poor employment s...
People 'increasingly borrowing through secured credit'
Posted by on 4th January 2010 to Debt News
The majority of lenders have increased the availability of secured credit to UK householders, a new survey has found.Figures published by the Bank of England have found that the three months to Decemb...
People in the UK 'managing their debt better'
Posted by on 4th January 2010 to Debt News
People in the UK are paying back an unprecedented amount of their unsecured credit in an effort to address their debt problems, new figures show.Research published by Santander Cards has revealed that...
Govt crackdown on minimum wage 'could help those with debt problems'
Posted by on 31st December 2009 to Debt News
Those suffering with debt problems could benefit from a government crackdown on companies failing to pay their workers the minimum wage.HM Revenue and Customs has announced that it will be tackling so...
Saving now 'key to avoiding Xmas 2010 debt problems'
Posted by on 31st December 2009 to Debt News
People facing debt problems as a consequence of their festive spending must ensure that they start saving now for next year's Christmas, an organisation asserts.The Citizens Advice Bureau (CAB) and th...
Avoid credit cards 'to minimise debt problems in 2010'
Posted by on 30th December 2009 to Debt News
Among the key tips for those looking to get their finances under control in the new year is to ensure they are not racking up debt with an expensive credit card. Which? magazine has issued advice on h...
NHS Stressline 'to tackle health problems caused by debt stress'
Posted by on 30th December 2009 to Debt News
The Department of Health has announced that it is to start offering a service designed to help tackle the stress related to debt problems. NHS Stressline will offer health advice on issues relating to...
Working after retirement 'can ease debt problems'
Posted by on 30th December 2009 to Debt News
Debt problems are less likely to affect those who have retired if they continue to work part-time, an expert has claimed. Emma Soames, editor at large for Saga Magazine, says that money worries are mo...
4m more adults in debt following Christmas
Posted by on 29th December 2009 to Debt News
New figures show that nearly four million people have entered debt in order to pay for their Christmas celebrations this year.Figures published by insolvency trade body R3 show that nearly six million...
White-collar workers 'also facing debt problems'
Posted by on 24th December 2009 to Debt News
The risk of white-collar workers being made redundant and facing debt problems has been higher during this recession than in previous instances, an expert has claimed.Phil Flaxton, chief executive of ...
Today marks day when debt victims draw out most cash
Posted by on 23rd December 2009 to Debt News
Today (December 23rd) will be one of the busiest days on record for people's spending, which could concern those with debt problems.Figures published by Tesco Bank show that this will be the most hect...
Debt repayments 'will become more difficult in next 12 months'
Posted by on 23rd December 2009 to Debt News
People will increasingly struggle to meet their debt repayments during the next 12 months, an expert has claimed.Tim Moss, head of loans at moneysupermarket.com, puts this down to the instability of t...
OFT decision 'could hurt those with debt problems'
Posted by on 23rd December 2009 to Debt News
The Office of Fair Trading (OFT) has dropped its challenge against overdraft fees, which could hurt those struggling with debt problems.Martin Bamford, a chartered financial planner for Informed Choic...
Govt 'to scrap bills of sale laws to make debt fairer'
Posted by on 22nd December 2009 to Debt News
The government has announced plans to remove a law that enabled the sale of high-cost loans, which could be good news for those with debt problems.Kevin Brennan, consumer minister, claims that bills o...
UK economy 'shrank 0.2% in the third quarter'
Posted by on 22nd December 2009 to Debt News
New figures from the Office for National Statistics (ONS) have confirmed that the UK remains in recession.The ONS has revised its estimation of growth figures in the three months to September to a con...
33m could be exacerbating debt problems through poor tax understanding
Posted by on 21st December 2009 to Debt News
Nearly 33 million people in the UK do not understand how taxation works, which could impact on their debt problems.Figures published by Fidelity International show 15 per cent do not know what tax ban...
Fuel bills to rise 33% over the next 10 years
Posted by on 21st December 2009 to Debt News
Those suffering with debt problems could see their fuel bills increase by a third in the next decade, an organisation has warned.Which? has found that poorly-insulated homes face a rise of 35 per cent...
Debt problems 'could lead older people to suffer health problems'
Posted by on 18th December 2009 to Debt News
It is crucial that older people with debt problems do not put their health at risk by failing to put their heating on, an expert has suggested. Yvonne Doyle, regional director of public health for the...
UK mortgage lending level falls to £12bn
Posted by on 18th December 2009 to Debt News
The amount of mortgage debt in the UK fell by ten per cent from October, which could be good news for those struggling with repayments. Figures published by the Council of Mortgage Lenders show that t...
UK economy 'still on a knife edge'
Posted by on 18th December 2009 to Debt News
Unemployment figures show that the economy is currently on a knife-edge, which could concern those with debt problems.Brendan Barber, general secretary of the Trades Union Congress, claims that the re...
Overpaying gas bills 'could hurt those with debt problems'
Posted by on 17th December 2009 to Debt News
Homeowners could be exacerbating their debt problems by paying more than they need to on their gas bills, an expert has advised.Stephen Ratcliffe, energy product manager at beatthatquote.com, warns th...
UK employment market 'showing promising signs for those in debt'
Posted by on 17th December 2009 to Debt News
The employment market in the UK could be beginning to recover from the recession, which could be good news for those worried about their debt problems.Thomas Usher, research fellow at the Institute fo...
Could debt problems be addressed through progressive taxation?
Posted by on 16th December 2009 to Debt News
Those struggling with debt problems could benefit from a more progressive tax system, a leading lobby group asserts.Joe Cox, campaigns organiser at Compass, claims that those with lower incomes curren...
Debt problems 'could be eased if inflation falls early next year'
Posted by on 16th December 2009 to Debt News
Recent rises in inflation are likely to drop off quickly, an expert has suggested, which could be good news for those with debt problems.Vicky Redwood, UK economist for Capital Economics, says that th...
30-to-64 year olds 'will suffer most due to inflation'
Posted by on 16th December 2009 to Debt News
Those aged between 30 and 64 will be hardest hit by this week's rise in inflation, an organisation has asserted.Alliance Trust has analysed the consumption habits of different age groups and found tha...
Expert: Plan spending to avoid new year debt problems
Posted by on 15th December 2009 to Debt News
People who get into debt problems this Christmas could face high fees in the new year if they go over their overdraft limit, one expert has warned.Moneynet.co.uk said that a new year hangover of debt ...
Debt help: Campaign highlights rights to refund over Xmas
Posted by on 14th December 2009 to Debt News
A leading campaign is highlighting the rights of consumers when buying gifts this Christmas and New Year, which could help those with debt problems avoid unnecessary costs.The Know Your Consumer Right...
Bank offers 'could put people off protecting themselves from future debt'
Posted by on 14th December 2009 to Debt News
Banks are currently removing their best savings accounts, which could reduce the incentive for people to protect themselves against future debt problems.Ed Bowsher, head of consumer finance at lovemon...
32% will lie to their children because of debt problems
Posted by on 11th December 2009 to Debt News
Only one in three people struggling with debt are going to be honest with their children about the fact they are spending less money on Christmas.More than a quarter of these people hope that their ch...
Middle-income earners 'to carry heaviest tax burden'
Posted by on 11th December 2009 to Debt News
Middle-income families with debt problems will lose out the most from the changes brought in through the pre-Budget report, an expert has asserted.Martin Bamford, chartered financial planner at Inform...
Pilot to help those with debt problems avoid fuel poverty
Posted by on 10th December 2009 to Debt News
A pilot scheme has been launched which is designed to reduce the number of people in fuel poverty due to debt problems.Commission for Rural Communities and the Rural Services Network (RSN) are spearhe...
Entertaining children 'could put pressure on those with debt problems'
Posted by on 9th December 2009 to Debt News
Those struggling with debt problems are spending up to £40 a day on entertaining their children, new research suggests.Figures published by Egg show that three quarters of parents admit that they...
Electricity bills 'could harm those with debt problems'
Posted by on 9th December 2009 to Debt News
Those struggling with debt problems may experience additional financial pressure from planned rises in electricity bills.Ofgem, the energy regulator for the UK, reports that fuel will become more expe...
Middle classes 'to suffer £300 squeeze in income next year'
Posted by on 8th December 2009 to Debt News
The middle-classes could lose up to £300 a year in 2010 due to rises in food and mortgage costs, research suggests.A study by PricewaterhouseCooper (PwC) predicts that, ahead of the pre-Budget re...
Mental health 'often linked with debt problems'
Posted by on 8th December 2009 to Debt News
Mental health issues are often involved in people's debt problems and can make these issues worse, a source reveals.A debt advisor has told the Independent that debt, depression and divorce are regula...
16% to pay for Xmas on a credit card
Posted by on 8th December 2009 to Debt News
One in six people intend to fund their Christmas spending on their credit cards, which could leave more people in debt come the new year.Research by Saga has shown one in four intend to pay off this d...
Smart meters 'could present problems for those with debt problems'
Posted by on 7th December 2009 to Debt News
Families who are suffering with debt problems could be harmed by the introduction of smart meters, an expert has claimed.Maria Wardrobe, director of communications at National Energy Action, asserts t...
Debt problems 'could be helped by low interest rates'
Posted by on 7th December 2009 to Debt News
The recession is leading people to put more money aside and could help them to tackle their debt problems, an expert suggests.Darren Cook, spokesperson for Moneyfacts.co.uk, claims that low-interest r...
Govt 'must do more for those in debt'
Posted by on 4th December 2009 to Debt News
The government needs to do more to help those with debt problems and should enact legislation on this subject, a source reveals.Adrian Coles, director general of the Building Societies Association, cl...
Rental rises in February 'may hit those with debt problems'
Posted by on 4th December 2009 to Debt News
Those suffering with debt problems may face higher rents from next February, an organisation has predicted.Mark Garner, chief executive of LettingZone, claims that there will be a hike in the number o...
People 'cutting back on Xmas spending to avoid debt'
Posted by on 3rd December 2009 to Debt News
Many people are cutting the amount they are willing to spend over the Christmas period, new research has found, which could reduce the number of people in debt.A study by Saga Platinum has found indiv...
Scottish people 'drowning in debt'
Posted by on 3rd December 2009 to Debt News
Many people in Scotland are drowning in debt and this is on the rise, it has been claimed.Susan McPhee, head of social policy at Citizens Advice Scotland, asserts that the poor financial conditions ar...
Understanding finances 'key to tackling debt'
Posted by on 3rd December 2009 to Debt News
The first step for those looking to improve their financial security should be to ensure they create a list of their income and outgoings, an expert asserts.Jill Kerby, writing for The Anglo Celt, sug...
9,300 people a day seeking debt help
Posted by on 3rd December 2009 to Debt News
The number of people in the UK seeking debt help is increasing by more than 9,300 per day, new figures show.Credit Action's UK Debt Statistics report highlights the fact that the Citizens Advice Burea...
Smart meters 'could make bills cheaper for those with debt problems'
Posted by on 2nd December 2009 to Debt News
Every home in the UK will have a smart metre by the end of 2020, which could help those struggling with debt problems to control their fuel bills.The Department of Energy and Climate Change has announ...
Debt advice: Start saving now for next Xmas
Posted by on 2nd December 2009 to Debt News
People looking to avoid debt in Christmas 2010 should ensure they start saving now, an expert has asserted.Andrew Hagger, spokesperson for Moneynet.co.uk, claims that the best tip is to put money asid...
Some gold buying firms 'exploit those with debt problems'
Posted by on 2nd December 2009 to Debt News
Council trading standards officers have warned those struggling with debt problems to avoid gold-buying companies.Councillor Paul Bettison, chairman at council regulatory body Lacors, claims that thes...
Britons 'would rely on debt if out of work'
Posted by on 1st December 2009 to Debt News
Many Britons cannot accurately assess the amount of time they could survive if made redundant and risk debt if they are out of work.Bright Grey's Reality Gap Report has found that most adults could la...
Man seeks repossession advice over £91k debt
Posted by on 1st December 2009 to Debt News
A man has had to seek repossession advice after falling behind on the repayments for his £91,000 debt, a source reveals.Roy Barker tells the Kent and Sussex Courier that he took out the loan to c...
Petrol price rise 'could hit drivers in debt'
Posted by on 30th November 2009 to Debt News
Recent hikes in petrol prices could hit those struggling with debt problems, new research suggests.A study by uSwitch.com has found that the cost of fuel is due to rise by 15 per cent, which could hit...
One in five 'face debt this Christmas'
Posted by on 30th November 2009 to Debt News
People could become increasingly mired in debt this Christmas, as one in five admit they have no savings to fall back on during the expensive festive season.A study by Abbey Savings has found that a t...
People 'are reducing their debt levels'
Posted by on 30th November 2009 to Debt News
People have been paying back more of their debts and the total amount of consumer credit has fallen, new figures reveal.Statistics published by the Bank of England show that the total amount of person...
Many families 'still in debt from last Xmas'
Posted by on 30th November 2009 to Debt News
One in ten families are still paying off the debt they got into last Christmas time, new figures suggest.Research by Money.co.uk has found that 14 per cent will get through the festive season by borro...
Lack of bank charge refunds 'will impact on people's debt problems'
Posted by on 27th November 2009 to Debt News
People in financial difficulties who were depending on getting their bank charges refunded have a bleak outlook, a leading consumer advice group warns.Peter Vicary-Smith, chief executive of Which?, sa...
Everyday bills 'must not be forgotten during Xmas'
Posted by on 27th November 2009 to Debt News
People struggling with debt problems over the festive season should ensure they do not forget to factor in their everyday bills, a manager of the Coatbridge and Airdrie Citizens Advice Bureau has warn...
Water prices 'could still be difficult for those with debt problems'
Posted by on 26th November 2009 to Debt News
While Ofwat has announced that water prices will remain stable, falling by £3 by 2015, those finding it difficult to cope with their bills are unlikely to get much relief from this deal.Dame Yve ...
Supreme Court decision 'will impact on those in debt'
Posted by on 26th November 2009 to Debt News
People having difficulties with debt problems will not be able to claim back their overdraft charges following a decision by the Supreme Court.The UK's highest court ruled that the Office of Fair Trad...
Telephone scams 'often target those in debt'
Posted by on 25th November 2009 to Debt News
A new telephone scam is targeting those who are struggling with debt problems and a warning has been issued against handing over personal details to these organisations. Equifax has highlighted the im...
Expert: More people are becoming worried about debt
Posted by on 25th November 2009 to Debt News
There has been a rise in the number people who are worried about the state of their finances and debt, a commentator suggests.Chris Tapp, director of Credit Action, claims that more people need access...
Debt problems 'due to people overstretching themselves'
Posted by on 24th November 2009 to Debt News
People have increasingly overstretched themselves and are now suffering from the consequences of their debt problems, a commentator asserts.Financial Advice warns that many people who have borrowed on...
Debt worries 'could lead to health problems'
Posted by on 24th November 2009 to Debt News
People's debt worries and financial difficulties could be damaging their physical health, a new study has shown.A report by CreditExpert reveals that some physiotherapists have been seeing a spike in ...
34% of British people worry about their debt levels
Posted by on 23rd November 2009 to Debt News
More than a third of British people believe that they are borrowing too much compared to the amount they earn, a source reveals.A study due to be published later this month by Janus Research will show...
Many seeking bank charge refunds 'will use this money to pay off debt'
Posted by on 23rd November 2009 to Debt News
Two fifths of those filing claims against unfair bank charges intend to use any money they get back to pay off their debts, a new study suggests.Research by Which? magazine has found that 41 per cent ...
UK's economic future 'uncertain due to high personal debt'
Posted by on 23rd November 2009 to Debt News
People struggling with debt problems should be worried about the UK's future, as its economy is still "shaky", a commentator has claimed.Cliff D'Arcy, writing for Love Money, warns that peop...
Repossession numbers 'on the rise'
Posted by on 20th November 2009 to Debt News
The number of people in need of repossession advice is on the increase and due to rise further in the next 12 months, a commentator asserts. Cliff D'Arcy, writing for Lovemoney.com, warns that those ...
Low earners 'should be given more help to avoid debt problems'
Posted by on 19th November 2009 to Debt News
Low earners with debt problems are more likely to have been affected by the recession and the government should do more to help them, an expert has claimed.Carolyn Jones, director of the Institute of ...
Rising car costs could lead more people to seek debt help
Posted by on 18th November 2009 to Debt News
More people may need debt advice as the cost of running a car is rising, according to new figures.Research from Sainsbury's Finance found that the cost of motoring is increasing by 2.68 per cent a yea...
Online shopping 'can be cheapest this Christmas'
Posted by on 18th November 2009 to Debt News
People with debt problems should shop online for their Christmas presents, as new research has shown that hundreds of pounds can be saved.The findings from consumer advice company Which? discovered th...
Improving tax efficiency 'could help those with debt problems'
Posted by on 16th November 2009 to Debt News
A new study has highlighted the high levels of confusion among UK citizens about tax, which could make things worse for those with debt problems.Research by Fidelity International has found one in sev...
24% hide their debt problems from friends and family
Posted by on 16th November 2009 to Debt News
Nearly one in four people is hiding the fact they are in debt from their partners, friends or family, a source reveals.Figures published by AXA show the average amount borrowed is £4,096.32, the ...
Credit card and debt attitudes 'vary between age groups'
Posted by on 12th November 2009 to Debt News
Attitudes towards spending on credit cards vary between age groups, but it is important that everybody focuses on paying off their debt, a new study suggests.Research published by Confused.com has fou...
People 'must learn to avoid debt'
Posted by on 12th November 2009 to Debt News
People are going to need to learn how to avoid getting into debt, an expert has claimed.David Kuo, director of motleyfool.co.uk, has asserted that individuals must change their mentalities about savin...
Growth of household debt 'led to the credit crunch'
Posted by on 12th November 2009 to Debt News
Growing levels of household debt contributed to the financial crisis, a new report has claimed.Research published by the Trades Union Congress (TUC) reveals that this grew from 45 per cent of income i...
Majority of British people worried about financial problems
Posted by on 11th November 2009 to Debt News
The stress of mounting debts is leading many British people to take time off work or to become less productive on the job, a new survey finds.New research from AXA showed that more than 80 per cent of...
UK people concerned about poor credit rating
Posted by on 11th November 2009 to Debt News
Many people are concerned that their debt problems will lead to them being rejected by credit card companies and a poor credit rating.Research from Confused.com found that 40 per cent of people from t...
Savings run dry as parents struggle with debt
Posted by on 11th November 2009 to Debt News
A quarter of parents do not have savings they can rely on in an emergency, as many have used them to meet their basic costs of living.New research by Abbey Savings has found that 28 per cent have no n...
New debt management advice sessions launched
Posted by on 10th November 2009 to Debt News
Older people in the East Midlands will be given debt management advice at upcoming sessions in the area.Pensioners are being invited to two events, on November 11th and 18th, which will teach them abo...
1 in 3 credit card holders 'do not expect to pay off debt in 6 months'
Posted by on 9th November 2009 to Debt News
New research reveals that 30 per cent of credit card users do not plan to repay their balance in the next half year.Figures published by moneysupermarket.com suggest that these borrowers could face es...
Loan sharks 'make debt problems worse'
Posted by on 5th November 2009 to Debt News
A new campaign is warning those struggling with debt management to avoid loan sharks.The initiative, which is being run by Community Housing Cymru (CHC), will raise awareness of the risks people are e...
People 'will focus on debt problems more after Christmas'
Posted by on 5th November 2009 to Debt News
People are more likely to focus on debt management once Christmas has passed, a commentator asserts.Mark Potter, writing for Reuters, claims that people's current optimism about the economy is unlikel...
OFT to review debt management companies
Posted by on 4th November 2009 to Debt News
The Office of Fair Trading (OFT) is to review the debt management industry and levels of compliance within it.A number of different areas will be looked at by the government department, including adve...
Families given cash boost after benefits change
Posted by on 3rd November 2009 to Debt News
Families who get child benefit could receive an extra £1,000 a year after changes from the Department for Work and Pensions.A new system introduced by the government department means income from ...
New lending code 'could offer debt help'
Posted by on 30th October 2009 to Debt News
A new lending code is due to be launched on November 1st and contains guidance designed to regulate collections of payment from those struggling with debt management. The Lending Standards Board (LSB)...
New study 'suggests debt management problems are easing'
Posted by on 30th October 2009 to Debt News
The pressure on households' financial budgets is decreasing, new figures suggest. Research by Alliance Trust has found that the slowing rate of inflation means those struggling with debt management wi...
People 'are still relying on credit cards'
Posted by on 30th October 2009 to Debt News
People are still reliant on credit cards to even out their income, despite the lessons of the credit crunch, an expert warns. Chris Tapp, director of Credit Action, says that many individuals have not...
Debt management issues 'leading people to take on lodgers'
Posted by on 29th October 2009 to Debt News
Problems with debt management could see more households taking in lodgers, with new figures showing a 23 per cent increase since 2006. Halifax Home Insurance reports that half of new landlords took on...
CCCS: Credit card regulations 'could improve debt management'
Posted by on 28th October 2009 to Debt News
New regulations designed to regulate the credit card market could help to reshape the industry and encourage better debt management, a group has asserted. A spokesman for the Consumer Credit Counselli...
Credit card regulations 'could offer debt help'
Posted by on 27th October 2009 to Debt News
People should be given more information about credit and store cards to minimise the risk they will need debt help after signing up for these products, it has been claimed. The government has made pro...
Debt advice: Staying at home 'could save over £1,000 a year'
Posted by on 27th October 2009 to Debt News
People struggling with debt management are saving money by entertaining themselves at home, new research has shown.Figures published by Abbey Savings claim the average person who stays in saves themse...
Prioritisation 'key part of debt management'
Posted by on 27th October 2009 to Debt News
Those struggling with debt management must make sure they prioritise the most important bills, an expert has advised. Barney McCarthy, editor of advice website Your Mortgage, has highlighted the impor...
Personal debt 'could slow down UK economic recovery'
Posted by on 26th October 2009 to Debt News
The amount of personal debt that households in the UK are under could slow down the country's economic revival, it has been claimed. Dominic Bryant, a senior European economist at financial services c...
OVO 'best energy provider in the UK'
Posted by on 26th October 2009 to Debt News
Those struggling with debt management in the East Midlands may be relieved by new figures showing that energy bills in the region have fallen below £900. Statistics published by Confused.com, a p...
Car insurance premium rise 'could lead more to seek debt help'
Posted by on 22nd October 2009 to Debt News
Car owners in need of debt advice are being hit by steep rises in the cost of their insurance premiums, which could put additional financial pressure on them. New figures published by AA Insurance hav...
Christmas shoppers 'given debt advice'
Posted by on 22nd October 2009 to Debt News
A key piece of debt advice for the festive season is to plan Christmas shopping early, as this can help people avoid many of the pitfalls of overspending, a financial guru claims. Fergus Muirhead, a m...
Simplifying energy bills 'could make debt management easier'
Posted by on 22nd October 2009 to Debt News
It is crucial for energy companies to simplify customers' bills and help those in need of debt advice keep their spending under control, a consumer group claims. A spokesman for Which? magazine says t...
Martin Lewis: Everyone's debt advice needs are unique
Posted by on 21st October 2009 to Debt News
A leading debt expert says each person's debt advice needs are different and require a unique approach, although he says certain rules can help people whatever their circumstances. Martin Lewis, a fin...
Families 'are turning to price comparison sites to cut food costs'
Posted by on 21st October 2009 to Debt News
Those looking to improve their debt management skills are increasingly using price comparison websites to save money, it has been claimed. A new study by Dalepak has revealed that one in five people a...
Rents 'likely to remain stable for tenants with debt management plans'
Posted by on 19th October 2009 to Debt News
Rents have been rising for people with debt management plans, although landlords are being quite cautious, an expert suggests.Chris Horne, editor of Property Hawk, claims that there is still a degree ...
People with debt management plans 'should avoid mailing payments'
Posted by on 19th October 2009 to Debt News
People with debt management plans should try and use alternative payment methods to deal with their bills during the postal strike, an organisation advises.The UK Payments Administration has recommend...
OFT 'targets adverts that could mislead debt management plan holders'
Posted by on 15th October 2009 to Debt News
Misleading online sales and advertising practices are to be examined in a new investigation by a leading watchdog, which could lead to lower prices for debt management plan holders.The Office of Fair ...
Debt help: Exhibition 'promotes energy efficiency savings'
Posted by on 14th October 2009 to Debt News
An exhibition is being held to highlight the benefits that energy efficiency in the home can bring, which could also save those struggling with debt management money.Alex Goddard, curator at the Eco H...
Equity release 'being used to help debt management'
Posted by on 14th October 2009 to Debt News
Those with debt management plans are increasingly using equity release to help with their repayments, an expert advises.Andrea Rozario, director general of Safe Home Income Plans, claims that there ha...
Debt management plan holders 'face rising bills'
Posted by on 9th October 2009 to Debt News
Debt management plan holders could face a rise in their energy bills in the nearby future thanks to the extra challenges facing the gas and electric industry.Ofgem has issued a report highlighting pro...
Over 50s 'could still need debt management plans'
Posted by on 7th October 2009 to Debt News
The over-50s demographic are not immune to the effects of the credit crunch, with many having to use debt management plans.Joanna Garcia, head of credit cards at Confused.com, claims that many people ...
Advert 'targeted vulnerable struggling with debt management'
Posted by on 7th October 2009 to Debt News
A complaint has been upheld against an advert that could have targeted vulnerable debt management plan holders.The Advertising Standards Authority (ASA) asserted that lender QuickQuid's advert, which ...
Working tax credits 'could help debt management plan holders'
Posted by on 6th October 2009 to Debt News
The government is recommending those who may have become eligible to claim for the working tax credit to confirm if they are entitled to it, which could make things easier for those looking at debt ma...
Debt management advice 'could be needed following pension changes'
Posted by on 6th October 2009 to Debt News
Proposed changes to the state pension age could leave older people requiring debt management advice, an expert suggests.Dr Ros Altmann, independent policy advisor, warns that women will be unfairly pe...
51% of over-50s 'could be in need of free debt help'
Posted by on 5th October 2009 to Debt News
Nearly half of over-50s in the UK have non-mortgage debt, suggesting the need for free debt help.Figures published by moneysupermarket.com show that the average debt is nearly £7,000, with 22 per...
Fall in remortgage deals 'could see rise in people seeking repossession advice'
Posted by on 2nd October 2009 to Debt News
There has been a fall in the number of people remortgaging their homes, which could affect those seeking repossession advice or a debt management plan.Robert Sinclair, director of the Association of M...
Debt management plan holders 'can save by exchanging less currency'
Posted by on 2nd October 2009 to Debt News
Those with debt management plans returning from holiday are bringing home an average of £1.78 billion in unused currency, new figures show.A study conducted by Santander Cards shows that Brits co...
Good debt management advice 'key to overcoming difficulties'
Posted by on 2nd October 2009 to Debt News
Debt management advice could be the key method to help people get out of financial hardships, an expert asserts.Tim Moss, head of loans and debt at moneysupermarket.com, calls for the introduction of ...
DIY home improvements 'could cost debt management plan holders more'
Posted by on 1st October 2009 to Debt News
Debt management plan holders trying to save money by doing home improvements themselves may have to pay more if things go wrong, an expert has warned.Andrew Leech, director of the National Home Improv...
Debt management's importance 'changing saving habits'
Posted by on 1st October 2009 to Debt News
The increasing need for debt management is leading to more people saving their money, an expert has suggested.Andrew Hagger, spokesperson for Moneynet.co.uk, attributed this to the effect of the reces...
Repossession advice 'could be bolstered by new mortgage lender rules'
Posted by on 1st October 2009 to Debt News
Rules requiring mortgage lenders to inform councils before the start of repossession actions in their area are a welcome move for those in need of repossession advice.Catherine Torazzo, speaking on be...
Sale-and-rent-back schemes 'should not exploit debt management plan holders'
Posted by on 30th September 2009 to Debt News
Debt management plan holders who have used a sale-and-rent-back scheme should be protected by more regulation, an expert advised. Catherine Hearnden, director of MyMortgageDirect, claimed that it woul...
Debt management plan holders 'shunning fixed-rate deals'
Posted by on 30th September 2009 to Debt News
Higher interest rates have lead to a rise in the number of people electing to use tracker loans, those with debt management plans may be interested to discover.Peter Cowell, a broker at Click'n'Go Mor...
