Archive for the ‘Credit Crunch’ Category
Payday loans lenders face OFT penalties
Action is being taken against payday lenders who flouted rules on online advertising in the run up to Christmas.The Office of Fair Trading (OFT) found some were not checking whether customers could afford to borrow or outlining charges for going into arrears. A number were unclear about the loan terms and failed to explain the [...]
January 16, 2012
Tags: bad debts, bank lending, borrowing, consolidate debt loans, Credit Crunch, Debt Consolidation, debt management plans, sub prime loans, UK loans rates Posted in: Borrowing Costs, Credit Crunch, Debt Consolidation, Debt Management, Finance, Interest Rates, Lenders, Online Banking, Payday Loans, Sub Prime Loans, UK Loans Rates, Uncategorized 
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Christmas will push third of UK into debt warns YouGov
Almost one in three people in the UK will go into debt over the Christmas period according to a YouGov survey.The survey of 2,015 adults suggests 11% of Britons will lose track of spending, with 31% going into some form of debt to fund Christmas related costs. Of these, it suggests 58% will rely more [...]
January 11, 2012
Tags: bad debts, banks, borrowing, Credit Crunch, Debt Consolidation, debt management plans, Loan calculator, sub prime loans, UK loans rates Posted in: Bank Lending, Borrowing Costs, Credit Crunch, Debt Management, Lenders, Loans Calculators, Sub Prime Loans, UK Loans Rates, Uncategorized No Comments
Barclays Bank basic current account customers face fee rise
Basic current account holders at Barclays Bank face more frequent charges if they fail to keep sufficient funds in their accounts.Basic accounts, often opened by those with a chequered credit history, do not offer cheque books or overdrafts. At present, there is a maximum charge of £8 a day if direct debit or standing order [...]
January 5, 2012
Tags: bank lending, bankers, finances, Loan calculator, personal loans, sub prime loans Posted in: Bankers, Banks, Borrowing Costs, Credit Crunch, Finance, Lenders, Loans Calculators, Uncategorized No Comments
Millions turn to payday loans claim insolvency experts
Millions of Britons are likely to take out a high interest loans in the next six months to last them until payday a group of insolvency experts claims.R3, which represents “professionals working with financially troubled individuals and businesses”, bases its claim on interviews with 2,000 people. Some 60% of those surveyed worried about their level [...]
December 29, 2011
Tags: bankers, borrowing, Credit Crunch, debt management plans, refinancing rates, sub prime loans, uk recession Posted in: Bankers, Borrowing Costs, Credit Crunch, Debt Management, Finance, Interest Rates, Loans Calculators, Payday Loans, Sub Prime Loans, Uncategorized No Comments
One in four households face fuel poverty warns Consumer Focus
The proportion of homes in fuel poverty in England and Wales has risen from 18% to 24% in two years estimates suggest.Consumer Focus calculated that nearly 5.7 million households are in fuel poverty – when more than 10% of their disposable income is spent on fuel. The watchdog said the issue was particularly acute in [...]
December 22, 2011
Tags: bad debts, borrowing, finances, Loan calculator, recession, uk recession Posted in: Credit Crunch, Debt Management, Finance, Loans Calculators, Uncategorized No Comments
Bank of England governor Sir Mervyn King warns of hard times ahead
UK economic growth will be “flat or close to zero” over the next six months Bank of England governor Sir Mervyn King has told MPs.He told the Treasury Select Committee: “The outlook for output growth in the near term is considerably weaker than even three months ago.” Sir Mervyn’s comments came on the day that [...]
December 15, 2011
Tags: Bank of England, bankers, Credit Crunch, Mervyn King, Quantitative Easing, uk recession Posted in: Bank of England, Bankers, Credit Crunch, Interest Rates, Lenders, Quantitative Easing, Sovereign Debt, Uncategorized No Comments
UK borrowing forecasts raised in Autumn Statement
Forecasts for UK government borrowing have been increased when the chancellor announced his Autumn Statement.He said borrowing would be £5 billion more this year than originally forecast, £19 billion higher next year and £30 billion higher in 2013-14. The increases are a result of the reduction in the expected level of growth in the economy. [...]
December 13, 2011
Tags: bank lending, bankers, borrowing, consolidate debt loans, Credit Crunch, debt management plans, Quantitative Easing, sovereign debt Posted in: Bank Lending, Borrowing Costs, Credit Crunch, Debt Consolidation, Debt Management, Finance, Loans Calculators, Quantitative Easing, Sovereign Debt, UK Loans Rates, Uncategorized No Comments
UK recovery to take five years warns Bank of England Member
The UK economy will take five and a half years to recover to its pre-recession level a Bank of England Monetary Policy Committee member warns.Martin Weale called the recovery “unusually slow” and signalled more quantitative easing – creating money to buy government debt – may be coming. In a speech, he said the downturn is [...]
December 9, 2011
Tags: bank lending, Bank of England, bankers, banks, Credit Crunch, debt management plans, Loan calculator, Quantitative Easing, recession Posted in: Bank Lending, Bank of England, Bankers, Credit Crunch, Debt Management, Finance, Lenders, Loans Calculators, Quantitative Easing, Uncategorized No Comments
Smallest businesses need more support warn MPs
Britain’s smallest businesses should be treated differently from other small and medium sized firms warn a group of MPs.The very smallest companies are the UK’s job creators, but many are stifled by red tape and regulations aimed at much bigger companies, they said. The All Party Group for Micro Businesses said the definition of a [...]
December 7, 2011
Tags: banks, borrowing, business finance, business loans, Credit Crunch, finances, recession, sub prime loans Posted in: Bank Lending, Bankers, Banks, Business Finance, Credit Crunch, Finance, Financial Services, Lenders, Uncategorized No Comments
More people in energy poverty with fuel bill debts
The number of people with energy debts has risen by a quarter for electricity and a fifth for gas, it has emerged.The latest figures suggest 1.5m people are in debt in UK. The figures, from spring 2011, include 850,000 electricity customers and 700,000 gas consumers. Campaign group Consumer Focus and charity Citizen’s Advice say energy [...]
December 5, 2011
Tags: borrowing, consolidate debt loans, Credit Crunch, debt management plans, recession, sub prime loans Posted in: Bankrupcy, Credit Crunch, Debt Consolidation, Debt Management, Finance, Loans Calculators, Sub Prime Loans, UK Loans Rates, Uncategorized No Comments
