Archive for September, 2010
Debt management firms must be clear about their charges and the options available to consumers finds OFT
Debt management services standards should be higher, the OFT said.The Office of Fair Trading in it’s latest report highlighted issues including: * Misleading advertising by suggesting, wrongly, that services were free * Frontline advisers offering poor advice * Little awareness among customers that they could take complaints about firms to an independent ombudsman * In [...]
September 30, 2010
Tags: Bankrupcy, consolidate debt loans, debt management plans, sub prime loans Posted in: Uncategorized 
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Debt management firms exploiting people in debt finds OFT
Some debt management firms are posing as charities and are driven by a sales culture, the Office of Fair Trading has found. The regulator has ordered 129 firms to clean up their act within three months or face losing their licences. A damning report into the state of the sector highlighted widespread problems including misleading [...]
September 29, 2010
Tags: Bankrupcy, borrowing, consolidate debt loans, Credit Crunch, debt management plans, UK loans rates Posted in: Uncategorized No Comments
New affordable loans scheme is unveiled
A new not for profit lending scheme is being unveiled aimed at giving manageable loans to people who cannot obtain conventional loans.Iain Duncan Smith: “The very people that can least afford it end up paying interest rates… staggering, shocking figures.” A pilot scheme has been set up in the West Midlands called My Home Finance, [...]
September 28, 2010
Tags: Credit Crunch, Interest Rates, Loan calculator, loans, loans rates, sub prime loans Posted in: Uncategorized 2 Comments
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September 27, 2010
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Bank entrance bricked up in loans protest
Bournemouth Barclays bank entrance was bricked up in loans protest by a developer in Dorset in protest at the lack of credit available for small firms.Cameron Hope said he had been refused £240,000 in loans and getting credit was like “talking to a brick wall”. He and other protesters built the wall at Barclays in [...]
September 27, 2010
Tags: banks, borrowing, Credit Crunch, Lenders, uk recession Posted in: Uncategorized No Comments
Record public sector borrowing in August of £15.9 billion
The UK sank into the red by £15.9 billion last month during the worst August for public sector borrowing on record, official figures showed. The bigger than expected figure left borrowing in the first five months of the financial year at £58.1 billion, the Office for National Statistics (ONS) said. The release of the figure, [...]
September 24, 2010
Tags: borrowing, Credit Crunch, UK loans rates Posted in: Uncategorized One Comment
Overseas currency converters cards still available
Following the recent closure by Nationwide of it’s value overseas currency converters card Loans Calculators reviews a few alternatives.Metro Bank doesn’t charge any fees for overseas use of its debit card, but you have to visit a branch to open an account, and it is only based in London at the moment. If you have [...]
September 23, 2010
Tags: credit cards, Credit Crunch, currency converters Posted in: Uncategorized No Comments
End of fees free cards as consumers face higher overseas card charges
In two months time, the Nationwide building society is to withdraw its popular commission free service, and charge a fee when its debit card is used abroad. Most other current account debit cards now rack up charges each time we buy something or withdraw currency – up to £4 for every £100 spent. The terms [...]
September 22, 2010
Tags: banks, credit cards, Credit Crunch, euro Posted in: Uncategorized No Comments
In the past 18 months, the FOS has been naming and shaming the institutions facing the most complaints
The highest number of complaints against financial services companies was dominated by the biggest banks. Five of them – Lloyds, Bank of Scotland, Barclays, HSBC, and Santander – had more than 3,000 complaints each. * Lloyds TSB Bank: 12,750 * Barclays Bank: 7,991 * Bank of Scotland: 6,211 * Santander: 4,881 * HSBC: 3,286 As [...]
September 21, 2010
Tags: banks, Credit Crunch, Interest Rates, Loan calculator, loans Posted in: Uncategorized 2 Comments
Financial complaints to Ombudsman on the rise
The number of complaints made about financial firms to the Financial Ombudsman Service (FOS) rose in the first half of the year. However, the FOS sided with the consumer in a smaller proportion of resolved cases than previously. It received 84,212 new complaints, with more than half about five major banks. One of the biggest [...]
September 20, 2010
Tags: credit cards, Credit Crunch, Interest Rates, personal loans Posted in: Uncategorized One Comment
