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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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
Bank of England injects further £75 billion into UK economy
The Bank of England has said it will inject a further £75 billion into the economy through quantitative easing (QE).The Bank has already pumped £200 billion into the economy by buying assets such as government bonds, in an attempt to boost lending by commercial banks. But this is the first time it has added to [...]
October 12, 2011
Tags: bank lending, Bank of England, bankers, borrowing, consolidate debt loans, debt management plans, Quantitative Easing, UK loans rates Posted in: Bank of England, Bankers, Banks, Business Finance, Credit Crunch, Finance, Interest Rates, Lenders, UK Loans Rates, 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
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
Average UK student debts could hit £53,000
Average debts may reach £53,000 for UK students starting in 2012 – double the figure for 2011 – an annual survey suggests.The Push university guide said average annual debts had risen 6.4% in the past year – more than inflation – to £5,680. Researchers interviewed 2,800 students and based the projection on an average course [...]
September 5, 2011
Tags: borrowing, consolidate debt loans, Credit Crunch, debt management plans, loans, student loans Posted in: Borrowing Costs, Credit Crunch, Debt Management, Finance, Loans Calculators, Loans Rates, Uncategorized No Comments
Clydesdale and Yorkshire banks focus on bad debts
The Clydesdale and Yorkshire banks have warned that the credit crunch is making bad and doubtful debts a key focus.A trading update from the lenders said UK operations would retain a “conservative and prudent” approach in response to renewed economic turmoil. They also said they had achieved a two year target for gross lending of [...]
August 30, 2011
Tags: bad debts, bank lending, bankers, banks, consolidate debt loans, Credit Crunch, Loan calculator, UK loans rates Posted in: Bankers, Banks, Credit Crunch, Financial Services, Lenders, Loans Calculators, UK Loans Rates, Uncategorized No Comments
Number of Scottish people going bankrupt rises by 25%
The number of people going bankrupt in Scotland rose by a quarter in the first few months of this year, according to official figures.The Accountant in Bankruptcy said more than 5,000 people were declared insolvent between April and June. That figure was up 25% on the previous quarter, but down 1% on the same period [...]
July 21, 2011
Tags: Bankrupcy, banks, consolidate debt loans, Credit Crunch, Loan calculator, UK loans rates Posted in: Bankrupcy, Banks, Borrowing Costs, Credit Crunch, Debt Management, Lenders, Loans Calculators, UK Loans Rates, Uncategorized No Comments
