Archive for April, 2010
New CFEB agency aims to avoid debt spiral
A new quango has been launched which aims to educate people about money in the UK and thus to help people avoid debts. The Consumer Financial Education Body (CFEB) has taken over the role from the City watchdog, the Financial Services Authority. It will run a free online guidance service – Moneymadeclear – and intends [...]
April 30, 2010
Tags: borrowing, consolidate debt loans, credit cards, Credit Crunch, sub prime loans Posted in: Uncategorized 
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Debt sale firm hit by legal ban
A couple have been banned from running a “debt sale” business which took more than a million pounds in fees from clients. The injunction, imposed by Birmingham County Court, was granted after an investigation by Birmingham Trading Standards officers. BEWARE- the firm, Credit Card Killer, is run by Mr and Mrs Basil Rankine and as [...]
April 29, 2010
Tags: borrowing, consolidate debt loans, Credit Crunch, OFT, sub prime loans, uk recession Posted in: Uncategorized No Comments
Low interest rates encourage credit card spending
There has been a slight rise in credit card borrowing. Credit card use has increased, but the typical amount spent in every transaction has fallen. Repayments on personal loans and overdrafts outstripped new borrowing – as has been the case for some months. The BBA also said that businesses showed little appetite for borrowing – [...]
April 28, 2010
Tags: borrowing, credit cards, Credit Crunch, Loan calculator, personal loans, sub prime loans Posted in: Uncategorized No Comments
Businesses debt could cause double dip recession
Britain’s economic recovery could be threatened by the knockon effect of businesses in financial distress being unable to pay their debts. The number of businesses with “significant” or “critical” financial problems reached 161,601 in the first three months of the year, according to Begbies Traynor, business advisors— up 14 per cent on the fourth quarter [...]
April 27, 2010
Tags: borrowing, consolidate debt loans, finances, Interest Rates, refinancing rates, sub prime loans, uk recession, unemployment Posted in: Uncategorized No Comments
£55 billion of debts are hidden by UK borrowers
Britons owe £55 billion in hidden debts, according to the Post Office research. Nearly a third of people (31%) hide the true extent of debt from family members, according to the research by OnePoll for the Post Office. One in six women (16%) and more than a quarter of men (28%) do not tell their [...]
April 26, 2010
Tags: borrowing, credit cards, Credit Crunch, home loans, Loan calculator, loans, loans rates, personal loans, refinancing rates Posted in: Uncategorized No Comments
Sovereign debts pose new threat to global economy
Rising government debt is creating new risks to global financial stability, the IMF has warned. The IMF warned that the increase in sovereign debt would put new pressure on lending markets just as the world’s banks try to refinance about £3.5 trillion in short term borrowings. However, the fund has cut its estimate of the [...]
April 23, 2010
Tags: bonds, borrowing, consolidate debt loans, Greece, IMF, Loan calculator, loans, sovereign debt Posted in: Uncategorized No Comments
UK borrowing hits record £163.4bn under labour
Labour government borrowing hit a record high of £163.4bn in the last financial year, official figures have shown. The borrowing figure for the 2009/10 financial year is lower than the £166.5bn predicted by labour’s Chancellor Alistair Darling in April’s Budget. Including financial intervention measures, borrowing totalled £152.8bn – lower than the £155.9bn forecast. It is [...]
April 22, 2010
Tags: borrowing, Credit Crunch, falling interest rates, Loan calculator, uk recession Posted in: Uncategorized No Comments
Student debt increases as inflation rises to 4.4%
Over 3.5 million students and graduates face a hefty increase in their student loan interest rates later this year after a greater than unexpected increase in inflation last month. Interest rates on student loans are linked to the the Retail Price Index (RPI) rate which applies in March. Official figures published yesterday showed that this [...]
April 21, 2010
Tags: Bank of England, borrowing, falling interest rates, loans rates, personal loans, student loans Posted in: Uncategorized No Comments
UK home loans problem looms
A huge potential spanner in the home loans market is looming on the horizon over the UK property market. From 2011, home loans lenders will have to find about £300bn to repay the government for the money it lent them via its emergency support schemes – the special liquidity scheme and credit guarantee scheme – [...]
April 20, 2010
Tags: borrowing, home loans, home loans-rates-UK, house prices, labour liars, Quantitative Easing, UK loans rates Posted in: Uncategorized No Comments
Small businesses become lenders with £63bn unpaid bills debts
Small businesses are becoming lenders of last resort as businesses are failing to pay £63bn debt mountain of unpaid bills, say bankers. Nearly three out of four small and medium sized enterprises (SMEs) have been hit by late payments over the last year but less than half have taken steps to reduce the pressure according [...]
April 19, 2010
Tags: borrowing, consolidate debt loans, Credit Crunch, loans, personal loans, refinancing rates, sub prime loans Posted in: Uncategorized No Comments
