According to figures released by the Nationwide building society, house prices went up by 0.9% during June. This news has been welcomed by debt management providers, since an end to the housing slump could offer additional options to over indebted consumers by way of debt consolidation loans. The Nationwide confirmed that house prises have risen [...]
June, 2009
Refund delay could leave more needing IVA help
UK banks, and many of their customers will be kept waiting until August for an outcome to the bank charges debacle, as the Law Lords have delayed a final decision on the matter until later this year. A substantial amount of money is at stake, with the UK banks currently earning more than £2 billion [...]
Women’s spending hides future debt management issues
Research on the spending patterns of Britain’s women has revealed that they may be storing debt management issues for the future by continuing spending. The study, by Post Office Financial Services, found that millions of women are secretly borrowing money from relatives to maintain their spending habits, as they try to uphold their image and [...]
Unclaimed benefits could ease debt management worries
Around ¬¨¬£10.5bn worth of income-related benefits went unclaimed in 2007-9 in Britain, which could have eased many people’s debt management issues. The figures, published annually by the Department of Work and Pensions (DWP), showed that between 15 – 23% of all entitlement money went unclaimed from the five key income-related benefits – Income Support, Jobseekers [...]
Women more likely need debt management help
In an effort to match their celebrity idols, women now make up the majority of young bankrupts in Britain, according to a leading accountancy firm. The report from Wilkins Kennedy said that of all under 24-year-olds going bankrupt, 55 per cent were women – against just 48.3% five years ago. In 2008 there were 1,560 [...]
Debt management could help control credit card debt
Recent research has shown that people are cutting back on using plastic, in order to reduce the size of their credit card debt. According to figures from Tescocompare.com, more that a third of all individuals that are trying to spend less on credit, are doing so in order to shrink the overall size of their [...]
Higher rail fares increase debt management worries
Train passengers have seen fares rise by up to 11%, causing worries about their debt management to grow. A critical report by MPs has slammed the franchised rail system, which it labels “perverse”, and claims that consumers are taken for granted. The privately owned rail franchises have upped ticket prices by up to 11% on [...]
Rate increases add to debt management worries
Despite the fact that the Bank of England base rate of interest is at an all time low of 0.5%, some mortgage lenders have announced that they are to increase the cost of their fixed-rate mortgage deals. This news was not welcomed by debt management providers, who see this as yet another increased expense, that [...]
Londoner’s debt problems increase
Londoner’s debt problems have become deeper, more widespread and complex since the recession, with creditors acting more aggressively to recover outstanding payments according to an advice group. The report from Capitalise found that the average debt level amongst people living in the capital was just over ¬¨¬£18,000 – up by 16% since January 2007 – [...]
“Generous” Goodwin returns ¬¨¬£4.7m but doesn’t shred debt problems
Despite handing back £4.7m of the controversial £8.3m pension top up from his pension, Former Royal Bank of Scotland (RBS) leader, Fred Goodwin has still left many with serious debt problems. Following a deal with RBS, the ex-chief executive has agreed to hand back more than £200,000 a year from his controversial pension, as his [...]
Reckless lending as incomes go unchecked
High street lenders are issuing credit cards without sufficient credit checks, according to comparison website uSwitch. Their survey found that in the past 12 months 84 per cent of successful credit card applicants – 4.8 million – were not asked for basic proof of income, such as a wage slip, to support the figures stated [...]
WAG lifestyle causing debt problems in young adults
Latest figures suggest that the attempts of young women to live a celebrity lifestyle may be to blame for the rise in debt problems and subsequent bankruptcies in this age group. The lifestyles reported on in glossy magazines (like Hello, Now and Heat) along with historic access to easy credit have proved irresistible to many [...]
Debt management needed for record unemployed
Official figures released today show that unemployment in the UK is the highest it has been for 12 years, which suggests that more people could be at financial risk if they don’t practice sound debt management skills. The figures from the Office for National Statistics showed that UK unemployment rose to a 12-year high of [...]
Ryanair’s loo charges attempt to eliminate debt problems
Customers may be charged a pound to spend a penny as troubled airline Ryanair tries to reverse the debt problems recently reported. The Irish airline reported £155m losses this week, the first negative figures in its 20 year history, and now aims to recoup these by maximising additional revenues and sorting out their debt management [...]