Debt Consolidation - In the News
15 January 2009 - Financial terms 'have become mainstream'
Terms that were once limited to the pages of financial publications have now become more commonplace as people discuss and read about the ongoing economic crisis, one sector commentator has claimed.
Cormac McKeown, head of content at Collins English Dictionaries, said that the word ... More
14 January 2009 - Interest rate cut 'unpopular'
Over two-thirds of Britons have stated that they were angry by last week's decision by the Bank of England's monetary policy committee to slash the base rate of interest to 1.5 per cent, it has been noted.
According to a survey by moneysupermarket.com, the cut was an unpopular choice ... More
13 January 2009 - Putting pen to paper
When it comes to managing finances, the first step Britons should be taking is putting pen to paper, one sector commentator has claimed.
Carl Kroger, sales and marketing director from the Relax Group, said that careful debt management could help people to tackle their monetary ... More
12 January 2009 - Contactless payments 'should be secure'
The payment industry needs to prove to consumers that new contactless payment methods are secure, one sector commentator has claimed.
Neil Munroe, external affairs director at Equifax, said this was because there was some wariness about such technology.
"I don't think there ... More
12 January 2009 - Savers 'being punished'
According to new research, savers in the UK are being punished for managing their finances by the book.
Consumers who insist on having a passbook with their savings account are being the worst affected, MoneyExpert.com asserts, as banks slash rates in line with the base rate of ... More
9 January 2009 - Britons 'opening up about money'
With the credit crunch still continuing to bite and a recession looming on the horizon, one benefit to the economic crisis has been that Britons are now beginning to open up about their money matters, one sector commentator has claimed.
According to new research from CreditExpert.co.uk, ... More
8 January 2009 - Banks 'cannot go bust'
The financial services providers operating in the UK should not be allowed to go bust, one sector commentator has warned.
Michael Baxter, economist at Defaqto, said that if more bailouts - which may come from taxpayers' funds - were needed to resume bank lending then there was "no ... More
7 January 2009 - Darling admits recession 'may be severe'
The chancellor of the Exchequer Alistair Darling has claimed that the recession may be deeper than the government had originally predicted.
In an interview with the Financial Times, he stated that the outlook for the economy was "difficult" and that the country was still ... More
6 January 2009 - Confidence 'hits new low'
Consumer confidence in the UK fell sharply in December, according to a new report.
The Nationwide Consumer Confidence Index for last month fell from 51 points to 47, as fears over the impending recession grew and the festive period put a strain on Britons' finances.
However, the ... More
5 January 2009 - People 'could save more'
As costs in the new year ease, Britons may find themselves in a position that allows them to save more, according to one sector commentator.
A spokesperson for National Savings and Investments (NS&I) said inflationary pressure would ease off on utility bills, petrol and food, which ... More
2 January 2009 - Blame the parents
When it comes to splashing out at the January sales, Britons should look to their parents as the reason behind their spending habits, it has been claimed.
According to Skipton Building Society, more than four out of ten UK adults admit that they choose luxuries similar to those of their ... More
31 December 2008 - Gloomy predictions for the economy
The majority of Britons consulted as part of a recent poll believe that the economy will not improve in 2009.
According to the survey, conducted in Leeds by the news agency Adfero, 59 per cent of respondents believed the economic outlook for the new year was bleak, while only 33 per cent ... More
30 December 2008 - Debt concerns 'mounting'
The number of calls to the government-funded National Debtline has increased by more than 40 per cent in a year, as Britons' concerns for their finances amid the credit crunch and an impending recession rise, it has been reported.
While in 2007, the average number of calls received by the... More
29 December 2008 - Farewell to the post-Christmas headache
The post-Christmas financial headache is likely to be less painful this year than it has been in the past, one sector commentator has claimed.
Darren Cook, spokesperson for Moneyfacts, said that this was because as Britons became more aware of the effect the credit crunch could have on ... More
24 December 2008 - Britons set to log on
Today (December 24th) could see up to five million Britons logging on to the internet to snap up a host of festive bargains, therefore abandoning the traditional trip to the highstreet, it has been reported.
According to the Independent, Dixons, Comet, John Lewis and several other ... More
23 December 2008 - Inflation 'is healthy'
According to one sector commentator, inflation is healthy because it creates wealth.
However, Darren Cook, spokesperson for Moneyfacts, said that once there was deflation during a recession, it was not good for the economy as people postponed big payments in order to wait for prices to ... More
22 December 2008 - Avoiding depression 'the immediate priority'
An immediate priority in the UK financial markets is to stop the economy from slipping from what could potentially be a severe recession into a situation that resembles a depression, one sector commentator has explained.
Jonathan Loynes, chief European economist at Capital Economics, said... More
19 December 2008 - FSA 'to explore issue of consumer responsibility'
The Financial Services Authority (FSA) has announced that it has adopted a two-pronged approach to achieving its consumer protection and consumer awareness objectives.
This is set to include setting, monitoring and enforcing standards for businesses and providing education, information ... More
18 December 2008 - Sterling hits new low
The pound has become increasingly weak in recent weeks, it has been reported.
It is believed that the downward movement has resulted from rising expectations that the Bank of England's monetary policy committee will make further cuts to the base rate of interest in the new ... More
18 December 2008 - Universities 'coping at crunch time'
Universities and colleges in the UK are generally maintaining a strong financial position despite the ongoing economic downturn, one sector commentator has claimed.
Roger Grinyer, head of corporate communications at the Higher Education Funding Council for England, explained that it would... More
17 December 2008 - Avoid the sting
Britons may be able to avoid being stung by unnecessary inheritance tax (IHT) by seeking the recommendations of a financial adviser, rather than a solicitor, one sector commentator has claimed.
Alex Pegley, director of Calculis, said that this was because a legal professional may only ... More
17 December 2008 - King: Economy is worsening
The governor of the Bank of England has warned that the economy is worsening, it has been reported.
Mervyn King said that the risk was now substantial that inflation could fall to below one per cent by next year, although currently it is still more than double the government target of two... More
16 December 2008 - Inflation heads down
The overall rate of inflation from the Consumer Prices Index fell to 4.1 per cent in November.
A drop of 0.4 percentage points was recorded from the figure released in October, the Office for National Statistics reveals.
Once again, the largest factor affecting the downward trend... More
15 December 2008 - Staying safe online
Britons who use the internet to go shopping should ensure that their personal details are secure when their financial information is online, one sector commentator has claimed.
Tony Neat, managing director of Get Safe Online, said that during the credit crunch, the net was a ... More
12 December 2008 - UK consumer culture 'changing'
Consumer culture in the UK is changing due to everyone being "skint", one celebrity commentator has claimed.
Gok Wan, stylist and presenter of Channel 4's show How to Look Good Naked, said it was a depressing time and that a decline in the number of people shopping was proving ... More
11 December 2008 - Germany criticises UK government response
The German finance minister has criticised the UK government and some other European Union (EU) states on their response to the ongoing economic downturn.
Peer Steinbruck blasted this month's cut to VAT - as announced recently in the pre-Budget report - along with Gordon Brown's party's ... More
10 December 2008 - Government's priorities 'conflicting'
Financial services advisers have spoken out against the government, claiming that its priorities for the sector are "conflicting and incoherent", it has been reported.
According to the BBC, Michael Coogan, of the Council of Mortgage Lenders, has claimed that this has led to ... More
9 December 2008 - Recession 'may be deeper'
The impact of the impending recession on the UK economy may be deeper than originally feared, new data has suggested.
According to the Guardian, the Office for National Statistics revealed that industrial output has fallen at its most rapid rate in nearly six years, while the preceding ... More
8 December 2008 - Retail, catering and leisure sectors 'at risk'
The catering, leisure and retail industries are the most at threat from the impending recession, one sector commentator has claimed.
This is because all of them offer services that may be seen as a luxury and therefore unnecessary when money is tight, David Molian, lecturer in the Bettany... More
5 December 2008 - Banks 'holding the economy back'
The UK banking sector is still remaining "very cautious" in its lending which is what is currently holding the economy back, one sector commentator has claimed.
Charles Davis, economist at the Centre for Economic and Business Research, said that yesterday's (December 4th) one ... More
4 December 2008 - Debt worries 'pile on pressure'
Nearly one in three (30 per cent) of adults in the UK have admitted that they are worried about their ability to manage their finances as concerns over the impending recession mount, new research has found.
According to a report by Money Expert, despite the economic downturn, 27 per cent ... More
4 December 2008 - Banks 'have forgotten they're in business'
Money lenders in the UK have forgotten that they are in business and that it is the customer who comes first, according to one sector commentator.
Bill Barclay, managing director of Galapark Finance, said that finances for small businesses were not always forthcoming and that the fault ... More
3 December 2008 - Consumer confidence plummets
Consumer confidence fell to a four-year low in November according to the latest figures by Nationwide.
The Telegraph reports that the money lender's index fell by six points to 50 last month, in comparison to 83 where it had stood during the same month in 2007.
Factors for this ... More
2 December 2008 - Christmas over-spending 'can lead to debt'
Britons who overspend at Christmas may be left at best disappointed and at worst in debt, according to one sector commentator.
Financial expert and TV presenter Jasmine Birtles said that the ongoing economic downturn may have left many people with feelings of misery and that during the ... More
2 December 2008 - One point reduction predicted
The Bank of England is likely to slash the base rate of interest by 100 basis points when its monetary policy committee (MPC) meets this Thursday (December 4th), according to a recent poll.
A snap Reuters survey revealed that 40 of the 62 economists questioned believed the MPC would ... More
1 December 2008 - Britons 'looking to rainy day'
People in the UK are now starting to think more about making sure they have got some money set aside for a rainy day, according to one sector commentator.
Hetal Parmar, manager for savings at Alliance & Leicester, said that research by the financial services provider had found that ... More
1 December 2008 - Mid-income and above 'will lose out'
Following the recent tax cuts announced as part of last week's pre-Budget report by the chancellor of the Exchequer Alistair Darling, it is those with a middle-income or above who are likely to lose out, one sector commentator has claimed.
John Whiting, chairman of the management of taxes... More
27 November 2008 - Cutting VAT 'will have an insignificant effect'
The chancellor of the Exchequer's decision to cut VAT by 2.5 per cent this week is likely to have "a very insignificant effect", according to one sector commentator.
Michael Baxter, economist at Defaqto, said this was because prices were now falling anyway, with the cost of oil ... More
26 November 2008 - Mandelson defends government
Peter Mandelson has criticised recent comments from the Conservative party that the Labour government had been planning a "secret tax bombshell", it has been noted.
David Cameron recently stated that this was the only way that Gordon Brown would be able to fund the £12 ... More
25 November 2008 - King urges bank lending
Governor of the Bank of England Mervyn King today (November 25th) said that it is vital that banks start lending to individuals and businesses once again.
Speaking to the Treasury Select Committee, Mr King argued that the ability of banks to lend money was crucial to getting the economy ... More
25 November 2008 - Pre-Budget leaks 'not clever'
Following the release of the pre-Budget report by the chancellor of the Exchequer Alistair Darling yesterday (November 24th), one sector commentator has claimed that many of the leaks preceding it were "not clever".
Ray Boulger, senior technical manager at UK mortgage broker ... More
24 November 2008 - VAT cut confirmed
The level of VAT is to be cut from 17.5 per cent to 15 per cent as of Monday, December 1st, as part of a move to give the economy a boost.
Announced by the Chancellor of the Exchequer today in the pre-Budget Report, the cut is just one of a number of measures designed to help give the ... More
21 November 2008 - Money worries 'caused by bad maths'?
Britons with personal finance difficulties may find themselves in that position due to failing to understand the terms under which money has been borrowed, one sector commentator has claimed.
Richard Marett, chief executive officer of Whizz.com, said another factor maybe not comprehending... More
20 November 2008 - Britons 'delaying tax payment'
Growing numbers of individuals and businesses in the UK are delaying paying their taxes as they come under increasing pressure from the credit crunch, it has been reported.
According to the Guardian, the National Audit Office has revealed that this increase has come as consumer debt ... More
19 November 2008 - Low inflation allows 'aggressive cuts'
Low inflation allows the Bank of England to cut interest rates "even more aggressively" and in turn support the activity environment, one sector commentator has claimed.
Paul Dales, UK economist for Capital Economics, said Britons would also now be able to purchase more goods ... More
18 November 2008 - Bachelors 'wasting money'
Single men in the UK may be wasting money due to the mistaken belief that they have fewer outgoings because they are not part of a couple, one sector commentator has claimed.
David Kuo, head of personal finance at fool.co.uk, said that he believed it was much easier for two people to save... More
18 November 2008 - Inflation falls
Inflation levels in the UK fell to 4.5 per cent in October, it has been widely reported today (November 18th).
This was a decline from the recent 16-year high of 5.2 per cent recorded in September by the Consumer Price Index and is believed to be due in part to the drop in petrol ... More
17 November 2008 - Economy to contract 2 per cent
The UK economy is set to contract by two per cent next year, which will be the most in nearly three decades.
According to the Confederation of British Industry (CBI), unemployment levels will peak in 2009 at nearly three million.
Gross domestic product is set to decline by 1.7 ... More
14 November 2008 - Government banking agency 'not in day to day running'
The agency that was created by the government to oversee the recently nationalise banks will not play apart in the day to day operations of the money lenders, it has been reported.
According to two executives writing in the Financial Times, this is because the group's job is to act as ... More
13 November 2008 - Debt consolidation 'may be advised'
Debt consolidation may be advisable for Britons who are struggling to make ends meet during the credit crunch, with one sector commentator claiming that individuals could contact debt advice ... More
13 November 2008 - King changes tack
The governor of the Bank of England Mervyn King was forced to abandon his focus on reducing inflation due to the meltdown of the UK economy, it has been widely reported.
Yesterday (November 12th), Mr King revealed that the economy was in for a long and deep recession but, according to the... More
12 November 2008 - Falling prices 'will signal economic recovery'
Retailers who are cutting their prices ahead of the Christmas buying rush are highlighting the beginning of an economic recovery in the UK, one sector commentator has claimed.
Michael Baxter, an economist at Defaqto, said the price of oil has recently collapsed and food costs are starting... More
11 November 2008 - BBA issues pledge
The British Bankers' Association (BAA) has made a pledge to Britons to see them through the tough economic period ahead.
A statement by the group noted that a statement of principles, which underlines the business banking code, was now being reviewed with business groups in an effort to ... More
10 November 2008 - Pressure is on
The pressure is now on to avoid a prolonged period of deflation in the UK, one sector commentator has claimed.
Vicky Redwood, UK economist at Capital Economics, said a weakening economy will decrease inflationary pressures and the recent sharp drop in oil and energy prices meant that ... More
7 November 2008 - Rate cuts 'should be passed on'
The interest rate cut by the Bank of England yesterday (November 6th) needs to quickly be passed on to customers by UK money lenders, it has been claimed.
It was announced yesterday that the monetary policy committee had voted to reduce the base rate of interest by an unprecedented 1.5 ... More
6 November 2008 - A light at the end of the tunnel?
There may be a light at the end of the tunnel of financial crisis, but the same cannot be said for the economic downturn, one sector commentator has claimed.
Charles Davis, economist at the Centre for Economic and Business Research, said that the action taken by the government at the ... More
5 November 2008 - Downturn 'may predict rate cut'
Fears of the impending recession may prompt the Bank of England to make its biggest interest rate cut in 15 years when the monetary policy committee (MPC) meets tomorrow (November 6th).
With interest rates currently standing at 4.5 per cent following a half a percentage point cut last ... More
4 November 2008 - Treasury to monitor bailout package
The government has stated that it will be closely monitoring the recent banking sector rescue package which has made use of £37 billion of taxpayers' funds, it has been noted.
It has been announced by the Treasury that competition will be restricted to ensure no harm comes to the ... More
4 November 2008 - Recession should be 'put in perspective'
With the UK heading for a recession and economic activity declining, businesses still need to retain some perspective on it all, one sector commentator has claimed.
David Kern, economic advisor for the British Chamber of Commerce, said that life would continue for retailers as people ... More
3 November 2008 - Cost cutting 'only a short-term expedient'
Businesses that are reducing operating costs should only look at such action as a short-term expedient, one sector commentator has claimed.
George Derbyshire, chief executive of the National Federation of Enterprise Agencies, said that in the long term, companies needed to build on ... More
31 October 2008 - Osborne warns of debt legacy
Shadow chancellor for the Conservatives has warned that the government's borrowing amid the ongoing financial crisis will leave two generations of Britons in debt.
Speaking on BBC Radio 4's Today programme, Mr Osborne said that Gordon Brown was attempting to relieve the recession by going... More
30 October 2008 - MPC member calls for further cuts
A member of the monetary policy committee (MPC) has urged additional reductions to be made to the base rate of interest.
Professor David Blanchflower was one of the first members of the Bank of England's financial advisory board to call for interest cuts earlier in the year.
He ... More
29 October 2008 - UK and France call for increased regulation
The prime minister Gordon Brown and French president Nicolas Sarkozy have jointly called for greater global regulation of the international financial sector, following discussions this week between the pair.
Mr Brown claimed that the International Monetary Fund (IMF) needed increased ... More
28 October 2008 - UK spending plan 'condemned'
A group of the UK's leading economists have condemned the chancellor of the exchequer's proposed spending plan, it has been noted.
In an open letter to the Sunday Telegraph, Alistair Darling's scheme - which has been designed to aid the domestic financial sector through the economic ... More
27 October 2008 - Brown hints at joint rate cuts
The prime minister has suggested that falling oil prices and lower inflation may lead to international central banks opting to make further joint interest rate cuts, it has been claimed
According to the BBC, Gordon Brown said this downward movement could give scope to monetary ... More
27 October 2008 - Recovery 'not expected until 2011'
It is unrealistic to begin talking about a proper recovery of the UK economy until 2011, one sector commentator has claimed.
Michael Baxter, economist at Defaqto, said that there was always a danger that lessons from the ongoing financial crisis would not be learned if governments ... More
24 October 2008 - Businesses 'may impose bans'
With the prime minister admitting this week that the UK is heading for a recession and the credit crunch continuing to rumble on, many businesses are now looking to take cost-cutting measures.
Gill Upton, editor of The Business Travel Magazine, said that one such economic reduction may be... More
24 October 2008 - Brits 'not ready for recession'
Seven out of ten Britons have admitted they are not ready for a recession, according to the results of a recent survey.
Fool.co.uk has reported that the Office of National Statistics is expected to announce later today (October 24th) that the economy is definitely heading for a ... More
22 October 2008 - Collapsed bank workers to receive bonuses
Workers at the collapsed Lehman Brothers bank are set to receive substantial bonuses amid the ongoing financial crisis, it has been noted.
According to the Mirror, staff at Lloyds TSB will also be getting bonuses, following the news that £37 billion of the government's rescue package... More
22 October 2008 - King warns of impending recession
The governor of the Bank of England has warned that the UK economy is heading for a recession, it has been noted.
Mervyn King said that Britain is now suffering its worst financial crisis since World War I and it was up to policy makers to prevent inflation from slowing even ... More
21 October 2008 - Young adults 'at risk'
Young Britons are likely to be the people left the most at risk by the government and financial institutions once the recession hits, a new study has found.
The Chartered Insurance Institute has claimed that Insecure, Pressurised, Over-taxed and Debt-ridden 18-34 year olds - IPODs - have ... More
21 October 2008 - Lenders should 'pass on Libor rate cut'
Lenders need to begin passing on recent Libor rate cuts to the consumer, one sector commentator has stated.
Darren Cook, spokesperson for Moneyfacts, made his claims following the news that the British Bankers' Association had revealed the benchmark three-month sterling lending rate ... More
20 October 2008 - Darling eases spending rules
The chancellor of the exchequer is set to ease current spending rules in an attempt to beat the recession, it has been noted.
Alistair Darling has hinted that he will be using next month's pre-budget report to relax long-standing fiscal rules, the Guardian reports.
His move has ... More
17 October 2008 - Global re-design of capitalism planned
European leaders are set to travel to the US to meet with President George Bush and urge him to re-design international capitalism, it has been noted.
According to the Guardian, the planned discussions will take place just days after a European Union summit on the issues closed with the ... More
16 October 2008 - Dividends ban 'to be relaxed'
The five-year ban on paying dividends that has been imposed on the newly nationalised banks by the Treasury is set to be relaxed, it has been noted.
According to the Times, waiving the rule for financial services providers, which include Royal Bank of Scotland, Lloyds TSB and HBoS, could ... More
15 October 2008 - PM meets European leaders
The prime minister has travelled to meet European leaders to begin discussions on the model being designed to rescue the international banking sector, it has been noted.
According to the Telegraph, Gordon Brown is making the trip to a European Council meeting in Brussels as the planned ... More
13 October 2008 - Debt levels 'increasing'
The level of debt currently being seen in the UK is on the rise, according to recent figures.
Research conducted by Unbiased.co.uk has revealed that for every £1 spent between April and June, the British public has borrowed 15 pence, as the credit crunch takes its toll.
This... More
13 October 2008 - Council workers' 'fears grow'
Concerns are growing that some public sector employees will not get paid this month, due to council payrolls being caught up in the economic crisis that hit Iceland's banks last week, it has been noted.
According to the BBC, leaders of such groups have now turned to the government to see ... More
10 October 2008 - Loan rates 'still climbing'
The rates attached to loans in the UK are continuing to rise, according to one sector commentator.
Recently released research by Moneyfacts revealed that a few months ago it would be difficult for borrowers to find a rate that was less than seven per cent.
However, the website ... More
10 October 2008 - A new cold war?
Officials from the UK Treasury are set to travel to Iceland's capital to discuss the country's current bank crisis.
The delegation will fly to Reykjavik, following concerns that the nation is on the brink of bankruptcy, causing fears to rise over the safety of UK ... More
9 October 2008 - Brits 'heading into the red'
One in ten borrowers feel that their debts are spiralling out of control, however, 62 per cent have continued borrowing, it has been claimed.
Such is the conclusion of recent research by the price comparison website moneysupermarket.com, which found that almost one in three of the people ... More
9 October 2008 - BOE cuts interest rates a day early
The Bank of England (BOE) slashed interest rates by half a percentage point yesterday (October 8th) in a historic move that came one day before the monetary policy committee (MPC) was set to meet to vote on the issue.
It also came one day after the government announced plans to implement ... More
8 October 2008 - UK follows US with rescue package
The prime minister has welcomed a rescue package designed as a similar bail-out option for the domestic banking sector as has recently been seen in the US.
According to the Telegraph, Gordon Brown said the plan - which will use £50 billion of taxpayers' money - is a "far ... More
7 October 2008 - Economists predict interest rate cut
Following a recent poll, the majority of financial sector commentators believe that the monetary policy committee will make a cut to the current base rate of interest on Thursday (October 9th).
Seven out of 12 of the economists, fiscal institutions and business organisations surveyed by ... More
6 October 2008 - Interest rates at '3.25 per cent next year'
UK Interest rates are likely to come down to 3.25 per cent by next year, according to one sector commentator.
In news that may be of interest to those on the hunt for debt consolidation advice, ... More
15 August 2008 - Students: "Do your homework"
Soon-to-be students and their parents have been advised to do their homework when it comes to pre-planning their finances for their years studying.
In news that may be of interest to those seeking debt... More
7 August 2008 - Serious debt 'a huge financial gaffe'
Falling into a state of serious debt is the second most serious financial blunder someone can make, according to a new survey.
Advice service Fool.co.uk reports that one in 14 people blame borrowing out of their means for their financial heartache, while six per cent of those questioned ... More
31 July 2008 - Rises in loan rates drive borrowers to doorstep lending
A rise in personal loan rates over the past month, as well as the tightening of lending restrictions at the nation's banks, is driving borrowers to doorstep lending, it has emerged.
Daily ... More
31 July 2008 - Fool.co.uk: Credit crunch is our fault
Questionable lending has been criticised by a financial information website after it emerged through its research that both lenders and borrowers are passing money that should be left alone.
Fool.co.uk's survey found that two in seven people blamed banks for the credit problems, with 94 ... More
31 July 2008 - The cost of living
The effects of the credit crunch can be seen in consumer wallets and purse strings as the cost of living increased throughout the year due to the rising cost of fuel and food prices.
Yesterday, British Gas applied more pressure on consumer budgets by announcing its biggest ever price ... More
28 July 2008 - Consumers 'value independent financial advice'
Consumers are still seeking advice on mortgages and retirement in the current economic climate, new research has suggested.
Financial search website Unbiased.co.uk revealed that over 250,000 people consulted an independent financial adviser (IFA) in the first half of ... More
24 July 2008 - Credit unions welcome reform
Proposed changes by the government to remove restrictions from credit unions have been welcomed by the Association of British Credit Unions Ltd (Abcul), which sees the reform as providing benefits for both lenders and borrowers.
The association added that the allowance of community groups... More
23 July 2008 - NS&I: Brits unaware of tax and inflation effects
A recent survey by a savings company has found that the older are the wiser when it concerns the understanding of inflation and tax effects on personal funds, with misunderstanding perhaps leading to individual debt.
The study by National Savings and Investments (NS&I) found that ... More
23 July 2008 - FSA welcomes govt credit union proposals
The Financial Services Authority (FSA) has welcomed news by the government that it will change its policy on credit unions to provide a wider range of services to their members.
It added that policy reform will allow those who are at risk financially or have limited access to other ... More
21 July 2008 - Retail spending drop 'could lead to recession'
The lack of consumer credit could lead to less spending which will in effect result in recession, a financial website has said today.
Fool.co.uk was responding to the Ernst & Young (E&Y) ITEM Club summer forecast, which was released today, predicting that the UK economy would ... More
21 July 2008 - Debt has 'plenty of solutions'
People who are finding it hard to deal with high levels of personal debt have many options at their disposal, a finance website revealed.
Thinkmoney.com said that although the credit crisis had limited the availability of secured consolidation loans, many other choices were obtainable to ... More
18 July 2008 - FSA called money guidance 'summit'
The Financial Services Authority (FSA) is hosting a conference to bring together all partner organisations to discuss and shape future plans of their service to provide free and fair money guidance in the UK.
A statement from the FSA has revealed that it hopes to provide stakeholders with... More
18 July 2008 - CML: Gross lending declines in June
The decline in gross lending between the first and second-quarter was only a marginal one per cent, the Council of Mortgage Lenders (CML) has revealed.
The CML added that an increase is usually expected in spring and that the year-on-year decline had gathered pace in recent months, with ... More
18 July 2008 - Most people 'debt-free by 47'
A survey has found that 47 is the "magic age" when the number of those out of credit card debt becomes larger than those in it, a money website has revealed.
Fool.co.uk found that this provides a contrast to the 28-year-old demographic, where the results peak at two-thirds of ... More
14 July 2008 - Only quarter think saving is 'very important'
Only 26 per cent of people believe saving money is very important, a recent survey revealed.
The research by Nationwide Building Society found that the figure to be a sharp drop from May, where 49 per cent of those interviewed believed it was important to save.
Less than half of ... More
11 July 2008 - Bank of England leaves '31 million disappointed'
The Bank of England's decision to hold interest rates at five per cent will be a "huge disappointment" to 31 million people in the UK, a money website has said.
A survey by Fool.co.uk found that 65 per cent of consumers believed the economic situation was "worse than" ... More
9 July 2008 - People must 'deal with debt now'
Consumers should deal with debt sooner rather than later, a debt management company recommended today.
In response to a recent speech by Bank of England governor Mervyn King, in which he highlighted a slowdown in the economy this year, Gregory Pennington advised consumers to prepare for ... More
8 July 2008 - Two more financial organisations agree with FSA plan
The response to new plans by the Financial Services Authority (FSA) to help those in debt has continued to be positive, with two more organisations congratulating the move.
The Council of Mortgage Lenders (CML) and the Association of Investment Companies (AIC) both praised the ... More
8 July 2008 - Aegon welcomes FSA initiative
One of the world's leading insurance companies has praised the announcement of a new scheme from the Financial Services Authority (FSA).
The Pathfinder plan by the government comes after the recommendations of the Thoresen Review, a report published in March that pushed for a national and... More
7 July 2008 - FSA outlines finance management plan
The Finance Services Authority (FSA) has today announced a scheme to offer free advice and assistance to those who may be struggling with debt.
Alongside the government, the financial services regulator hopes that its new measures will help people stay educated, informed and more ... More
7 July 2008 - Interest rates are expected to stay the same
The Bank of England's (BoE's) Monetary Policy Committee (MPC) is likely to leave interest rates unchanged until the end of the year, one financial expert has claimed.
According to the Centre for Economics and Business Research (CEBR), interest rates are expected to fall to four per cent... More
7 July 2008 - Brits worse off than they were five years ago
Consumers in the UK are now worse off than they were in 2003 due to the rising cost of living, according to new research.
Findings from a study by Ernst & Young revealed that after contributions to tax and payment of monthly household bills, the average family has under 20 per cent ... More
2 July 2008 - People have less to spend each month, shows research
Consumers have up to £10 less to spend as disposable income every month, according to new research.
Findings from a study by Chiltern showed that it is taking consumers an additional three months for them to pay off their debts compared with August 2007.
Those in debt can ... More
2 July 2008 - Over £13,000 needed to afford basic living standards
A single person living in Britain needs to earn £13,400 before tax to afford a basic standard of living, according to new research.
Findings from a study by the Joseph Rowntree Foundation revealed that a single person without a child needs to spend £158 a week.
A ... More
1 July 2008 - Consumers fail to review finances despite credit crunch
Consumers are failing to review their finances despite the effects of the credit crunch, new research has shown.
Findings from a survey by life insurance company Zurich revealed that less than a third of... More
30 June 2008 - Consumers not preparing for the future
Up to half of spenders in the UK are not preparing their finances adequately for the future, according to a new survey.
Findings from Scottish Widows revealed that 51 per cent of people are putting enough money away to save for their retirement.
Only 25 per cent of people not ... More
30 June 2008 - Debt levels up by 50 per cent
The level of debt owed by consumers seeking help advice over whether to take up a personal loan or debt ... More
30 June 2008 - Brits feeling over taxed by tax
Following a report showing that the UK tax burden has risen by 76 per cent in the last decade, nearly half of consumers believe that stealth taxes are responsible for their bank accounts being ... More
30 June 2008 - Economic growth falls by half according to new figures
The growth of gross domestic product (GDP) fell to 0.3 per cent during the first half of 2008, according to new figures.
Findings from the Office for National Statistics (ONS) revealed that the economy is now growing at its slowest rate since the first quarter of 2005. ... More
26 June 2008 - One in 25 consumers anticipate dying in debt
Up to four per cent of consumers believe they are going to die in debt, according to the results of a new study.
Findings from research by Fool.co.uk showed that while many people believe they have a guaranteed inheritance, less than one in four believe they will be able to bequeath ... More
26 June 2008 - Debt consolidation loans can help consumers
Consumers who look to debt consolidation loans as a way to escape debt are making a "smart move", according to a new article.
The feature in Best Syndication said that under the terms of... More
24 June 2008 - Consumer guide launched to help with finances
An online guide and factsheet have been put together by a consumer watchdog to help those who are struggling to keep their finances together in the wake of the credit crunch.
uSwitch.com said that it has put together a list of tips to help consumers save money in video and online ... More
23 June 2008 - Regular saving is a "brilliant habit"
Putting money into a savings account to prepare for the future is a "brilliant" habit to get into, one financial expert has claimed.
Moneyney.co.uk said that even putting away as little as £10 to £20 per month into a More
19 June 2008 - Many Brits are still to switch accounts despite costs
Up to one in seven consumers in the UK are still to switch to a more cost-effective current account, despite attention being drawn to bank charges by the Office of Fair Trading (OFT), one financial watchdog has claimed.
Moneysupermarket.com said that out of those who have made a change ... More
19 June 2008 - Increased price of food due to transport costs rising
Record oil prices have resulted in the cost of transport and food rising, one financial expert has claimed.
Mysupermarket.com said that if the oil price increases then it has double effect on the supply side as the transportation cost of raw materials goes up.
Johnny Stern, ... More
18 June 2008 - Over half of the population has never received financial advice
Up to 57 per cent of consumers in the UK have never received financial advice, according to new research.
Findings from a study by Zurich revealed that over 80 per cent of 18 to 24 year-olds have not sought financial advice.
A further 64 per cent aged between 25 and 34 have not... More
18 June 2008 - Store cards "are the devil in disguise"
Despite new rules being in place to protect consumers, store cards are still the "devil in disguise" with some charging almost 50 per cent more interest than credit cards, one financial expert has claimed.
Research from Fool.co.uk revealed that store card providers have got ... More
18 June 2008 - Over-75s hit hardest by inflation
Consumers aged over 75-years old have been hardest hit by the economic turmoil brought on by the credit crunch, according to new research.
A study by Alliance & Leicester revealed that the over-75s have seen inflation rise from 4.1 per cent to 4.8 per cent.
For other age ... More
17 June 2008 - Inflation reaches highest level for 16 years
Inflation in the UK has reached its highest level for 16 years, according to official figures from the Bank of England.
The statistics from the Consumer Price Index (CPI) show that inflation reached 3.3 per cent during last month which is a rise of 0.3 per cent between April and May. ... More
16 June 2008 - Consumers receiving "pitiable rates" for remaining in credit
Many people are receiving "pitiable rates" from banks for remaining in credit, one financial expert has claimed.
Research from MoneyExpert.com revealed that the average credit interest rate has increased to two per cent from the 1.6 per cent recorded two years ago. ... More
16 June 2008 - Economy is to experience slowest growth for 17 years
The economy in the UK is expected to go through its lowest rate of growth since 1992 during 2009, one economic expert has claimed.
According to the Confederation of British Industry (CBI), the economy has lowered its expectations for the growth of domestic product to 1.3 per cent. ... More
13 June 2008 - Consumers warned to watch out for Iva scam
The Office of Fair Trading (OFT) has issued a warning to consumers to watch out for letters informing them to cancel their existing Individual Voluntary Agreements (Ivas).
According to the OFT, the letter suggests that the consumer has been "mis-sold" an Iva and that they ... More
12 June 2008 - Up to 1 in 4 Brits feel finances are "out of control"
More than a quarter of consumers in the UK feel their finances are "out of control", according to a new survey.
Findings from GE Money revealed that eight per cent of those questioned admitted that they regularly spend more than they earn.
Chris Tapp, director of ... More
12 June 2008 - Homeowners facing repossession need to seek advice
Those homeowners under threat of losing their home because of repossession need to seek advice, one property expert has claimed.
According to Transact, an independent organisation committed to financial inclusion, if a consumer is struggling financially and is in danger of losing their ... More
11 June 2008 - Financial best achieved before 40
Consumers in the UK are at their most financially productive before they reach 40 years old, one financial expert has claimed.
Fool.co.uk said that the average wage of 16- to 20-year-olds rises from £15,000 to £17,500 for people in their mid twenties before flattening at ... More
11 June 2008 - Mortgage debt climbs to £207bn
A third of homeowners in or approaching retirement owe £207 billion in outstanding mortgage debt, according to a new report.
Findings from a study by Key Retirement Solutions showed that the average debt per person works out at £37,316, while there has been a 20 per cent ... More
11 June 2008 - Number of pensioners and children in poverty rises
The number of pensioners and children living in poverty rose by an estimated 400,000 during 2007, according to new statistics.
Findings from the Department for Work and Pensions recorded in 2006-07 show that the number of pensioners living in relative poverty rose by 300,000 while the ... More
9 June 2008 - Elderly worst hit by the credit crunch
Consumers aged 55 and over are the worst hit by the economic turmoil brought on by the credit crunch, according to new research.
Findings from a study by Skipton Building Society revealed that more than 80 per cent of elderly spenders have reportedly cut back on their outgoings. ... More
9 June 2008 - Brits' shopping 'habit' persists
Despite the economic worries brought on by rising household bills tightening budgets, up to one in four consumers has retained a shopping habit, according to new research.
Findings from the study by the Cahoot online bank, a subsidiary of Abbey, revealed that up to ten per cent of ... More
9 June 2008 - Consumer confidence reaches record lows
Confidence of spenders in the UK has dropped to a record low, according to new figures.
Findings from the British Retail Consortium (BRC), which questioned over 1,000 consumers, said that rising costs and talk of falling property values are behind this drop in confidence.
Over ... More
6 June 2008 - Bank of England's decision ''not entirely unexpected''
The Bank of England's (BoE's) decision to keep interest rates the same for the second successive month was "not entirely unexpected", according to one financial expert.
However, Fool.co.uk said that the decision leaves consumers "in the worst of two possible worlds" ... More
6 June 2008 - Debt consolidation 'is an option'
Consumers in debt could consider debt consolidation as a way of getting out of their financial difficulties, according to one financial expert.
Experian said that struggling consumers should evaluate their finances either monthly or quarterly.
James Jones, consumer education ... More
5 June 2008 - Savers lose out on £8bn each year in interest
Consumers are missing out on £8 billion in interest each year by leaving their savings in accounts with interests below the base rate, according to new research.
Findings from a study by the Post Office showed that nearly a third of savers do not know what the interest rate on their... More
4 June 2008 - Up to one in ten unaware of level of debt
Up to ten per cent of consumers have no idea how much debt they are in, according to new research.
Findings from a study undertaken by CreditExpert revealed that although 96 per cent of spenders claim to be familiar with their current financial situation, only one in four can accurately ... More
3 June 2008 - Growing numbers of consumers concerned about 'debt mountain'
Increasing numbers of spenders who owe money to banks and lenders are becoming worried about their ability to manage their debts, one financial expert has claimed.
According to research from MoneyExpert, nearly 40 per cent of those with debt say that they are worried about whether they ... More
2 June 2008 - Fuel poverty programme should help but more ''needs to be done''
The fuel poverty programme is a "serious commitment" from the government to tackle the problem but more could still be done, one consumer watchdog has said.
According to the Citizens Advice Bureau (CAB) it saw an 11 per cent increase in the number of fuel debt cases compared ... More
30 May 2008 - Interest rates to stay at 5% for the rest of the year
Interest rates could remain as high as five per cent at the end of 2008, one financial expert has predicted.
The Centre for Economics and Business Research (Cebr) said that the economic slowdown and pressures of inflation are likely to keep interest rates as they are with the possibility... More
30 May 2008 - No money set aside for emergencies
Up to a quarter of people in the UK have no or very little money set aside in case of some sort of emergency, shows new research.
Findings from a study by online bank Egg reveals that over half of Brits do not have enough money saved to provide for their families if they were to be off ... More
29 May 2008 - Financial worries top of Britons' concerns
Over half of Brits believe that life has become increasingly pressured with the onset of the credit crunch and house price falls, one financial expert has claimed.
New research from PruProtect revealed that 52 per cent of Britons consider their financial situation to be their greatest ... More
29 May 2008 - More repossessions than last year but not as many as in the 1990s
The number of repossessions is expected to rise more than last year during 2008 but levels are not expected to be as high as they were during the early 1990s, one housing expert has claimed.
According to the Council of Mortgage Lenders (CML), the current housing crisis is taking place in... More
28 May 2008 - Disadvantaged families cannot go on holiday because of their ''lack of money''
Up to two million families cannot go on holiday due to their lack of disposable income, one family finance expert has claimed.
The Family Holiday Association said it does not matter whether prices go up at half-term or not as it is an underlying lack of money which is preventing families... More
27 May 2008 - British consumers are becoming increasingly open about debt
Increasing numbers of Brits are being open about debt and the state of their finances, according to new research.
Findings from a survey conducted by IVA.co.uk revealed that over a quarter of consumers in the UK said they had talked about their financial worries and debt problems to ... More
27 May 2008 - Sex and the City generation not saving for the future
Only seven per cent of women listed financial insolvency as being important to them, according to the results of a new survey.
Findings from the Sex and the City Generation: Fashionistas not Cashonistas report by Friends Provident revealed that over half of those questioned said they ... More
23 May 2008 - Brits cut back on spending
Up to 35 million British consumers have recently made some form of financial cutback, according to new research.
Findings from a study by Alliance & Leicester revealed that one third of respondents said they expected their disposable income to decrease during the next six months. ... More
23 May 2008 - Rising fuel prices pushing Brits into debt
Up to two-thirds of Brits are "very concerned" that they will not be able to cope if fuel and energy prices continue to rise, new research has shown.
Findings from a survey by moneysupermarket.com showed that a further 29.2 per cent of respondents said they were ... More
23 May 2008 - Consumers should not delay in submitting claims for unfair bank charges
Consumers should not delay in submitting their claims to banks over unfair charges, one financial expert has said.
Fool.co.uk advised customers that they can claim back unfair charges up to six years after they occurred.
However, as each day passes, it is a step closer to the ... More
21 May 2008 - Up to 40% of consumers would struggle to survive on savings
An estimated 40 per cent of consumers would find it difficult to survive on their savings alone for more than a month, according to new research.
Findings from a study by Callcredit showed that over 50 per cent of spenders aged between 25 and 34 would have to turn to loans or credit to ... More
20 May 2008 - 'High credit levels of the past to blame for debt of today'
Consumers in the UK are suffering due to years of economic growth based on high levels of customer credit, a former Conservative chancellor has claimed.
Speaking on ITV's GMTV, Lord Lawson said that economic growth in the UK has been rapid as it has in the rest of the world. ... More
19 May 2008 - Households are struggling financially due to rising cost of living
Increasing numbers of people are looking for financial advice as they find it more difficult to pay their bills, according to one financial expert.
The Citizens Advice Bureau (CAB) said it has seen an increase in mortgage arrears cases with 35 per cent more in the first few months of ... More
16 May 2008 - Increasing numbers turn to payday loans
Increasing numbers of consumers are turning to payday loans to help them to cope with the additional financial strain brought on by rising costs of food and petrol, according to one financial expert.
Research from Moneysupermarket.com said that the take-up of these short-term payday ... More
13 May 2008 - First-time buyers ''least likely group to be repossessed''
First-time buyers are the "least likely group" of property owners to face repossession, according to one property expert.
Firstrung said that those consumers who have just moved onto the property ladder are usually able to afford their home as they will have been quite ... More
12 May 2008 - Debit cards 'retain their popularity'
Debit cards continue to be popular with consumers with spending rising by 11 per cent, according to new research.
Findings from APACS, the UK payments association, showed that while debit card spending has risen, the use of cheques dropped by 7.5 per cent in terms of value and 13 per ... More
12 May 2008 - Rise in the number of repossessions in line with expectations
The increase in the number of repossessions seen in recent figures is in line with expectations, one property expert has claimed.
Although recent figures from the Ministry of Justice showed that the number of possession orders increased by nine per cent during the first quarter of 2008, ... More
9 May 2008 - Repossessions to go up by 25%
The number of homeowners who face losing their homes is expected to go up by 25 per cent during 2008, according to new figures.
Findings from a study of the number of repossession cases passed through courts in England and Wales by the Ministry of Justice are expected to reveal that over... More
8 May 2008 - Prices first-time buyers prepared to pay dropping
The prices first-time buyers are prepared to pay for a property are dropping, one financial expert has claimed.
Moneyextra.com stated that the fall in the amounts being offered for first homes is dropping due to the relatively small number of buyers trying to get on the property market. ... More
8 May 2008 - Number of insolvencies rising
The number of people declaring themselves bankrupt or entering an Individual Voluntary Arrangement (IVA) is increasing, according to new research.
A study by the Insolvency Service showed that 25,264 consumers admitted they were insolvent during the first quarter of 2008, an increase of ... More
7 May 2008 - Household bills take up more of monthly wage
Bills take up the largest proportion of a family's monthly wage in 17 years, one financial expert has claimed.
Research from Capital Economics revealed that rising utility bills, fuel prices and increasing costs for household goods have tightened consumer spending further.
Over... More
7 May 2008 - People still 'flocking to London despite economic doom and gloom'
Despite increasing rental prices due to the economic downturn, people are stilling looking to move to London, according to one property expert.
Foxtons letting agency said that there are a high number of people moving to the capital and renting property.
This group would have ... More
6 May 2008 - Number of bankruptcy cases in the UK increasing
Over 100,000 insolvencies have been predicted to occur by the end of the year as consumer debt grows by £1 million every five minutes, one financial expert has claimed.
uSwitch.com stated that 292 Brits declare themselves insolvent every day while 74 homes are repossessed, revealed ... More
6 May 2008 - Using debt to fund property purchase is ''very dangerous''
One financial expert has called for first-time buyers to take care when attempting to buy a house without having the funds in place.
First-time buyers who are relying on unsecured loans, borrowing and credit card debt to raise the money for their deposit are putting themselves at risk of... More
2 May 2008 - People in debt should not let it get out of control
People who are concerned about the state of their finances should not let the situation get any worse before tackling it.
If people implement a three-point plan, of not letting the problem get worse, seeking advice and contacting their bank or loaner, they can overcome the debt, according... More
1 May 2008 - First-time buyers using debt to fund house deposits
Credit cards, borrowing and unsecured loans are three of the methods a number of first-time buyers are using in order to finance the deposit upon their first home, according to new research.
Findings from a study IAmMoving.com showed that up to 30 per cent were risking debt by using ... More
1 May 2008 - Annual property prices drop by 1%
House prices fell by 1.1 per cent during March and are one per cent lower than this time last year, according to new research.
The findings from a study by Nationwide revealed that this was the first year-on-year fall since 1996.
Now the average house price is at to ... More
30 April 2008 - April - Payday loans
Payday lending is a method of borrowing common in the US which is increasingly being used by loan companies in the UK.
Due to the ease of access and the speed with which loans are provided to cash-strapped consumers "payday lending is the fastest growing UK consumer finance ... More
28 April 2008 - UK house prices fall for the seventh consecutive month
House prices in England and Wales fell by 0.6 per cent during April with this being the seventh consecutive monthly fall, new research has shown.
According to figures from Hometrack, the average value of a property is now at £173,100.
Due to this latest monthly decline in ... More
28 April 2008 - Repossessions to reach 33,400 in 2008
Due to the effects of the credit crunch the number of repossessions of homes in the UK could be as many as 33,400 during 2008, a financial expert has predicted.
A study from the Centre for Economics and Business Research (CEBR) has shown that the number of people losing their homes could... More
24 April 2008 - Children worried about the state of the housing market
Children as young as 11 years old are worried about the state of the housing market and falling into debt, according to new research.
In a study of 11 to 15 year olds by Abbey, up to nine per cent of those questioned said they were concerned about not being able to afford a house in the ... More
21 April 2008 - ''Rapid and painful'' economic adjustment for UK
A panel of financial experts has claimed that the effects of the global credit crunch are expected to make conditions increasingly difficult for consumers.
In the latest study from Ernst & Young's Item Club, house prices are expected to fall by ten per cent during the next two years.... More
17 April 2008 - First-time buyers face 200% increase
House prices for first-time buyers have increased by 200 per cent during the past ten years, according to new research.
The annual Roof Affordability Index has revealed that the average first-time property price has rocketed from £52,674 to £159,494, with house price to income ... More
16 April 2008 - Financial pressures lead to increase in number of '3G' homes
Increasing financial pressures has forced adults with children to provide support to their parents, according to new research.
A study from Prudential reveals that more than 80,000 households in the UK are made up of three generations.
Around ten per cent of adults in the UK ... More
16 April 2008 - Number of debtors to double due to the credit crunch
The effects of the credit crunch are expected to double the number of consumers falling into debt during 2008, says new research.
An estimated one million UK consumers each owe an average of £25,000, a figure which equates to a national total of £25 billion in unsecured debt, ... More
11 April 2008 - It will be ''later rather than sooner'' before financial conditions improve
A financial expert has warned it is unlikely that economic conditions in the UK will improve sooner rather than later.
The present market turmoil and accompanying poor conditions are anticipated to continue for some time, said Fool.co.uk
David Kuo, head of finances with the ... More
4 April 2008 - Consumers need to be sensible when consolidating debt with a loan
Those consumers who choose to consolidate their debt through a loan need to be disciplined in order to benefit, one financial expert has said.
David Kuo, head of personal finance at fool.co.uk, said that the average size of a loan is £7,000 and four out of every ten people take one ... More
1 April 2008 - Consumers have ''personal responsibility'' to manage debt
People with debt problems should take responsibility for sorting out their own finances, an industry expert has stated.
James Falla said that, although banks and other financial organisations can offer some budgeting guidance for people with money worries, consumers must view managing ... More
31 March 2008 - Shop around for cheaper credit, consumers told
Consumers have been advised that by shopping around for the best deal on a mortgage, loan or credit card, they can make substantial savings.
According to comparison site moneysupermarket.com, by spring cleaning their finances consumers could save as much as £4,109 a year. ... More
31 March 2008 - March - House market moves
With the credit crunch continuing into 2008, the market volatility created by the US subprime crisis has sent ripples of 'doom and gloom' through the UK's mortgage market since the start of the year.
Currently many homeowners are struggling to keep up with their mortgage repayments due ... More
31 March 2008 - New banking code to be introduced
Under the terms of a new banking code those struggling to cope financially are expected to be entitled to fairer treatment.
The new code stipulates that spenders should contact their bank if they experience financial difficulty in a bid to make sure they work out a practical solution ... More
31 March 2008 - Impact of credit crunch on property auctions 'has been disastrous'
The effect of the credit crunch upon property auctions has been "disastrous", one housing expert has claimed.
According to the Essential Information Group (EIG), usually the overall sales rate for properties ranges from 70 to 80 per cent but from September of last year it fell ... More
28 March 2008 - Consolidation loans 'prevent spiral of debt'
Taking out a debt consolidation loan is becoming an increasingly popular way for young people in the UK to manage their money, it has been claimed.
According to the Daily Mirror, arranging a loan for consolidation purposes can often be a "sensible move" for those who struggle to... More
28 March 2008 - 'Lots of children' start work in debt
There are "a lot" of young people starting working life with "a lot" of debt hanging over them, according to Anne Young, savings expert at Scottish Widows.
Ms Young states that this is likely to be a result of the further education they have undertaken and the ... More
27 March 2008 - Borrowers need to read the small print when taking out a loan
British consumers looking to take out a personal loan need to be aware of the terms and conditions, one financial expert has warned.
According to Needanadivser.com, it is becoming increasingly important for spenders to understand what kind of financial agreement they are entering as ... More
27 March 2008 - Half a million UK consumers 'spend half a week worrying about debt'
An estimated half a million British consumers spend over 25 hours a week stressing about the state of their finances, according to one financial expert.
Findings from Abbey revealed that over two thirds of respondents worry about the content of their home being subject to ... More
26 March 2008 - ''Only a matter of time'' before the growth of equity release in the UK
Increasing numbers of consumers are expected to use equity release over the next few years, one financial expert has claimed.
According to the Safe Home Income Plans (SHIP), its use is only a matter of time, given the extent to which consumers have preferred property over pensions as a ... More
25 March 2008 - Up to 30% of UK consumers worried about their finances
Up to five out of every six UK consumers do not think they can manage much longer with the mounting pressure surrounding their finances, reveals new research.
Results of a survey conducted by moneysupermarket.com during budget week showed that the British use of loans, credit cards and ... More
20 March 2008 - UK house price crash could be worse than the US
The house price crash in the UK could be worse than that which could affect the US, a new study has predicted.
Findings from Capitol Economics reveal that similarities between consumer spending and house pricing could be a pointer to the future of the UK's housing market.
The ... More
18 March 2008 - Mortgage debt problems on the rise
There has been an increase of 35 per cent in the number of householders seeking help with their mortgage, according to a new survey.
Research from the Citizens Advice Bureau, which surveyed over 300 Citizen's Advice Bureau (CAB) offices, reported that they dealt with 215,000 new debt ... More
10 March 2008 - Consumer debt hits 3-year high
Consumer borrowing in the UK has reached a three-year high, according to figures from unbiased.co.uk.
Data published by the website, which is operated by Independent Financial Advisor Promotion - states that the level of debt generated by consumers hit £76.7 billion during the ... More
7 March 2008 - 'Many saddled with debt'
New research has revealed that people from Yorkshire aged 35 or younger are spending a significant amount of their income on servicing credit card debts.
Skipton Building Society found that after paying their rent or mortgage, this groups' largest outgoing is on credit card bills and loan... More
4 March 2008 - Up to 3.4 million adults own five or more credit cards, say experts
More than 3.2 million adults own five or more credit cards, despite mounting concerns about debt problems, reveals new research.
Findings from MoneyExpert.com showed that 28 per cent of people applied for more plastic last year with 21 per cent looking for one card while another seven ... More
3 March 2008 - Brits spend two years of their lives worrying about debt
The average British consumer will spend two years of their lives, or the equivalent of 16,848 hours worrying about debt, according to new research.
Findings from the Co-operative Bank reveal that one in two adults admitted to being 'concerned or deeply concerned' about their increasing ... More
29 February 2008 - February 2008 ? Retail hangover still aches from the festive period
With consumers now entering the third month of 2008, it is still evident that the effects of the retail hangover from the Christmas period have yet to stop aching.
This financial headache is raging against the gloomy economic backdrop created by the financial tightening of belts brought ... More
25 February 2008 - Over 70% of motorists putting their lives at risk
Up to 71 per cent of drivers are putting their lives at risk by delaying a trip to a garage despite being aware of faults with their vehicles, claims new research.
Findings from esure have revealed that one in three motorists admit to ignoring problems with their cars to avoid paying out... More
20 February 2008 - Debt worries 'growing in the UK'
An increasing number of British people are feeling stressed out about debt, a new report has claimed.
MoneyExpert.com states that one in three UK consumers are concerned about their current levels of borrowing, with spending hangovers from the Christmas period making personal finances ... More
3 January 2008 - Consolidation loans ''provide structure''
A debt expert has recommended that people with money difficulties take out a personal loan to consolidate their borrowing.
Director of Debt Help UK Ian Wrenshall said that the advantage of debt consolidation loans is that they can provide an otherwise disorganised borrower with ... More
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