April, 2009

The number of abandoned pets has risen by almost 60% during the recession, as households desperately try to save money to get out of debt. According to figures from the RSPCA, households are curbing their spending by dumping animals at a rate of 30 each day. In some cases, extreme measures are being taken by [...]

It seems that the recession is also hitting city executives hard, as the number of designer goodies being sold by people who have been made redundant has risen. Trading website Gumtree reports that designer bags and mobile phones worth around £3,000 are being sold at knockdown prices, as redundant city bankers and executives raise cash [...]

The base rate of interest has been kept on hold by the Bank of England, as they consider alternative options to kick-start the economy. Following six rate decreases, the base rate remains at its historic low level of 0.5%, down from 5% since October last year. The government and the Bank are working together to [...]

Taxpayers can now pay bills by credit card, raising concerns that they face an increased risk of getting deeper into debt and could see credit card debts rise sharply. Earlier this month, HM Revenue & Customs announced that this is the first year people paying their tax bills can do so with their credit card [...]

According to recent figures released, the number of personal insolvencies looks set to surge by around 40% to a record 150,000, thanks to the introduction of a new form of insolvency – the Debt Relief Order. Leading accountancy firm, KPMG, predict the increase based on the current economic climate, along with Bank of England statistics [...]

Debt collectors have agreed to give people struggling with their finances 30 days’ breathing space, once they are told the customer has asked for debt help. The new rules, which are set to come into play by the end of May, aim to provide clarity for UK debtors who have asked accredited advisers for help [...]

When Lehman Brothers collapsed, thousands of ordinary people lost all of their life savings – despite thinking that their money was safe. Having just retired and wondering what the best thing to do with their life’s savings, many consulted professional financial advisers. After assessing their risk profile and recognising the need to keep it safe, [...]

There were small signs of an economic recovery today as, for the first time in 16 months, UK house prices have risen Рaccording to figures from the Nationwide Building Society. The cost of a typical house increased by almost 1% in March Рup to ¬£150,946 following 16 consecutive months of falling prices. It [...]

As if we hard-up Brits aren’t struggling enough with our finances, increases in council tax and fuel tax may certainly push us over the edge with our debt problems. The Government have introduced an increase in fuel duty meaning that Britain’s motorists will have to pay an extra 2.12p-a-litre for their petrol and diesel from [...]