Archive for May, 2010
Creditors hound people going bankrupt
Nearly a third of people who are in the process of going insolvent claim they are still being harassed by creditors. Around 31 per cent of people who are in an insolvency procedure, such as going bankrupt or taking out an Individual Voluntary Arrangement or Debt Relief Order, said they were still being contacted by [...]
May 28, 2010
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Middle class finances hardest hit by recession
Middle class finances were hit hardest by the recession, new figures indicate, as the value of savings and investments were eroded. The number of professional families, retired couples with good incomes, and young City workers who were declared insolvent surged last year. The findings by credit agency Experian suggested the middle classes saw personal insolvencies [...]
May 27, 2010
Tags: Bankrupcy, borrowing, Credit Crunch, finances, home loans, sub prime loans, uk recession Posted in: Uncategorized No Comments
Student loans company chairman sacked and CEO forced to resign
The new government has forced out the two most senior managers at the Student Loans Company, after a review found “serious concerns” about its ability to improve the chaotic system in time for the new academic year.John Goodfellow resigned as chairman and Ralph Seymour-Jackson stood down as chief executive, after it was made clear to [...]
May 26, 2010
Tags: Conservatives, credit cards, Loan calculator, loans, student loans, sub prime loans Posted in: Uncategorized No Comments
UK budget deficit revised lower by ONS to £156,000,000,000
The Office for National Statistics (ONS) has revised down the amount borrowed by the labour government last year from £163.4bn to £156bn.Borrowing was £5.5bn lower than previously thought in March, the statistics agency added. Borrowing for April was £10bn – also lower than expected by many economists. The figures will provide some good news for [...]
May 25, 2010
Tags: bonds, Conservatives, consolidate debt loans, Credit Crunch, labour liars, Loan calculator, uk recession Posted in: Uncategorized No Comments
Bank reforms outlined by new government
The Conservative -Lib Dem coalition has reiterated its far reaching plans for the reform of the banking sector.The new government plans to introduce a a tax on banks and measures to tackle “unacceptable” bank bonuses, according to its coalition agreement. An independent commission will also be established to look at breaking up banks into their [...]
May 24, 2010
Tags: Bank of England, banks, Barack Obama, Conservatives, FED, finances, IMF Posted in: Uncategorized No Comments
Unfair bank charges to be banned new government proposes
An end to “unfair” bank and other financial transaction charges are among the new policies that have been set out by the new coalition government. Last year, the Office of Fair Trading suffered a high profile legal defeat in its attempts to regulate bank charges. The government’s plans also include powers to ban “excessive” interest [...]
May 21, 2010
Tags: borrowing, Conservatives, consolidate debt loans, credit cards, Credit Crunch, home loans, loans, OFT Posted in: Uncategorized No Comments
How to complain to your bank
To make a complaint to your bank, there are many ways to make sure your grievance gets resolved. Whatever your situation be patient and calm- you may get a much quicker and better result. The City watchdog the Financial Ombudsman Service (FOS) is considering action against two high street banks for the way they handle [...]
May 20, 2010
Tags: Bank of England, banks, borrowing, credit cards, loans Posted in: Uncategorized No Comments
Universities say student loans may have costlier paybacks
Graduates could pay higher interest rates on their student loans and pay them back earlier to help avert a funding crisis, a report says. The Russell Group of top universities says it faces a £1.1bn black-hole in its finances by 2012-13. The claims are in its submission to England’s official review of student finance and [...]
May 19, 2010
Tags: borrowing, finances, Interest Rates, loans, refinancing rates, student loans Posted in: Uncategorized No Comments
Business closures continue to increase during credit crunch
The number of requests lodged with the courts to wind up a company – either by a shareholder, a director or a creditor rose in the first quarter of 2010.The number of these winding up petitions stood at 2,777, a 4% rise on the last three months of 2009. However, they are not a complete [...]
May 18, 2010
Tags: borrowing, commentary, consolidate debt loans, Credit Crunch, loans, recession, uk recession Posted in: Uncategorized No Comments
Bankruptcies increase during UK credit crunch
The number of people trying to have themselves declared bankrupt in England and Wales rebounded in the first three months of the year. Ministry of Justice figures show the number of bankruptcy petitions lodged in the courts by debtors rose 20% from the previous three months, to 16,348. Bankruptcy proceedings started by creditors also rebounded, [...]
May 17, 2010
Tags: Bankrupcy, borrowing, consolidate debt loans, credit cards, Credit Crunch, Loan calculator, loans, sub prime loans Posted in: Uncategorized No Comments
