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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RBS failures caused by poor decisions, says FSA
The Royal Bank of Scotland (RBS) nearly collapsed in 2008 because of poor management decisions, inadequate regulation and a flawed supervisory system, a Financial Services Authority report says.The FSA admits that its own supervision was “flawed” and “provided insufficient challenge” to RBS. And it says RBS had too weak a capital position to proceed with [...]
January 13, 2012
Tags: bad debts, bank lending, bankers, Bankrupcy, Credit Crunch, Loan calculator, nationalisation, sub prime loans, UK loans rates Posted in: Bankers, Bankrupcy, Banks, Finance, Sub Prime Loans, Uncategorized, nationalisation No Comments
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
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
Lloyds makes a £3.9 billion loss after PPI settlements
Lloyds Banking Group has reported a £3.9 billion loss for the first nine months of 2011, mainly due to the cost of settling claims for mis-selling payment protection insurance (PPI).The pre-tax loss for the period ending 30 September compares with a profit of £2 billion a year earlier. Lloyds said that during the nine months [...]
November 22, 2011
Tags: bad debts, bank lending, bankers, Bankrupcy, banks, borrowing, debt management plans, Loan calculator, nationalisation Posted in: Bank Lending, Bankers, Banks, Business Finance, Credit Crunch, Uncategorized, nationalisation No Comments
Co-op confirms second round bid for Lloyds’ branches
The Co-operative Group has confirmed it will submit a second round bid next week for the hundreds of branches being sold by Lloyds Banking Group.Lloyds is selling 632 branches and £36 billion of deposits, after being ordered to by the European Commission following the bank’s rescue by the UK government. The government currently still holds [...]
November 14, 2011
Tags: bad debts, bank lending, bankers, banks, Credit Crunch, Loan calculator, nationalisation Posted in: Bank Lending, Bankers, Banks, Financial Services, Lenders, Loans Calculators, Uncategorized, nationalisation No Comments
Bank lending warning from Treasury Committee
New rules on banks are making it more difficult for them to lend, according to the chairman of the UK’s Treasury Committee, Andrew Tyrie.Mr Tyrie has written to the Bank of England and Financial Services Authority asking them to investigate the impact of the new regulations. Mr Tyrie warned that the eurozone crisis was already [...]
October 26, 2011
Tags: bad debts, bank lending, Bank of England, bankers, borrowing, Credit Crunch, refinancing rates Posted in: Bank Lending, Bank of England, Bankers, Banks, Business Finance, Credit Crunch, Financial Services, Loans Calculators, 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
Goldman Sachs reports £245 million loss on eurozone impact
Goldman Sachs has reported a quarterly loss, after its trading was “significantly impacted” by the debt crisis in the eurozone and the wider global economic uncertainty.The US bank made a net loss of £245 million for the third quarter of 2011. A year earlier, it made a whopping £1.18 billion profits. Goldman’s group-wide revenues fell [...]
October 21, 2011
Tags: bad debts, bank lending, bankers, Credit Crunch, euro, Loan calculator, sub prime loans, US loans rates Posted in: Bank Lending, Bankers, Banks, Business Finance, Credit Crunch, Financial Services, Gold, Uncategorized No Comments
Trading Standards confiscates cash after complaints from loan firm
Trading Standards is taking consultancy payments from a firm which is also the subject of customer complaints.West Yorkshire Trading Standards (WYTS) received payments from online loans broker SGE Loans in exchange for regulatory advice. But some customers claim that SGE Loans has debited their bank accounts without consent – a claim SGE Loans denies. WYTS [...]
October 10, 2011
Tags: bad debts, borrowing, consolidate debt loans, Credit Crunch, finances, Interest Rates, Loan calculator, loans, refinancing rates, sub prime loans Posted in: Borrowing Costs, Business Finance, Credit Crunch, Debt Management, Finance, Financial Services, Lenders, Loans Calculators, UK Loans Rates, Uncategorized No Comments
