Archive for the ‘Debt Consolidation’ 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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Somerset debt firm goes bust and director arrested
A Somerset based debt management company went bust leaving its clients owed about £600,000 and a 42 year-old man has been arrested.More than 80 people had given the money to DebtDr so it could arrange full and final settlements with their creditors. Avon and Somerset Constabulary said a man was arrested on suspicion of fraud [...]
January 9, 2012
Tags: Credit Crunch, Debt Consolidation, debt management plans, Loan calculator, sub prime loans Posted in: Debt Consolidation, Debt Management, Finance, Financial Services, Independent Finance, Loans Calculators, 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
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
Debt collectors target Facebook to reclaim money owed
Debt collectors are increasingly using social networking sites like Facebook to target debtors.The Office of Fair Trading is warning debt collectors not to pursue people who owe them money on social networking sites such as Twitter and Facebook. It is concerned that embarrassing details about their financial problems will be revealed on the internet. The [...]
October 24, 2011
Tags: bad debts, bankers, borrowing, consolidate debt loans, Credit Crunch, debt management plans Posted in: Bank Lending, Bankers, Borrowing Costs, Debt Consolidation, Debt Management, Finance, Home Loans, Lenders, Loans Calculators, Sub Prime Loans, Uncategorized No Comments
UK financial firms downgraded by Moody’s credit rating agency
Moody’s has downgraded the credit rating of 12 UK financial firms including Lloyds TSB, RBS, Nationwide and Santander UK.Moody’s said it now believed the UK government was less likely to support some firms if they got into trouble. However, the firm emphasised that the downgrades did not “reflect a deterioration in the financial strength of [...]
October 14, 2011
Tags: bank lending, bankers, banks, borrowing, Credit Crunch, Loan calculator, loans Posted in: Bank Lending, Bankers, Borrowing Costs, Business Finance, Credit Crunch, Debt Consolidation, Finance, Independent Finance, Lenders, Loans Calculators, Online Banking, UK Loans Rates, Uncategorized No Comments
Debt management firms closed down by finance watchdog
The Office of Fair Trading has cancelled the licences of 62 debt management firms in the past year, after a crackdown on rogue operators.Some fee charging firms have been criticised for misleading customers about their charges and for giving incompetent advice. Others have been told to stop cold calling customers, or stop pretending to be [...]
October 5, 2011
Tags: bad debts, bank lending, bankers, consolidate debt loans, Debt Consolidation, debt management plans, finances, Loan calculator, Office Fair Trading, sub prime loans, UK loans rates Posted in: Borrowing Costs, Business Finance, Credit Crunch, Debt Consolidation, Debt Management, Finance, Financial Services, Lenders, Loans Calculators, Loans Rates, Online Banking, UK Loans Rates, Uncategorized No Comments
Stricter red tape for debt management firms warns OFT
Debt management companies helping people in financial difficulty will have to abide by much stricter rules or face being closed down. The Office of Fair Trading (OFT) is consulting on the new rules to make such firms treat their clients fairly. The companies will have to make it absolutely clear what services they offer and [...]
June 15, 2011
Tags: Bankrupcy, consolidate debt loans, Credit Crunch, debt management plans, sub prime loans, UK loans rates Posted in: Bankrupcy, Banks, Credit Crunch, Debt Consolidation, Debt Management, Lenders, Loans Calculators, Uncategorized One Comment
Debt experts warn about rising bankruptcy costs
The latest rise in the cost of going bankrupt could discourage people with financial problems from seeking a solution debt experts warn. The fee for petitioning for bankruptcy rose by £75 to £525 at the beginning of June. With the court fee added on, the total upfront cost is £700. The Insolvency Service said the [...]
June 10, 2011
Tags: bad debts, Bankrupcy, banks, borrowing, consolidate debt loans, Credit Crunch, debt management plans, personal loans, sub prime loans Posted in: Bankrupcy, Borrowing Costs, Credit Crunch, Debt Consolidation, Debt Management, Lenders, Loans Calculators, Sovereign Debt, Uncategorized No Comments
How to claim your PPI compensation
Three million people are in line to receive compensation after high street banks surrendered in the long battle over mis-sold payment protection insurance (PPI). Credit card and loan providers and the four main banks – Lloyds-HBOS, HSBC, Barclays and RBS – are expected to pay out up to £9 billion compensation for PPI, making it [...]
May 16, 2011
Tags: banks, borrowing, Credit Crunch, Loan calculator, loans, personal loans Posted in: Bankers, Banks, Borrowing Costs, Credit Crunch, Debt Consolidation, Debt Management, Interest Rates, Lenders, Uncategorized No Comments
