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 
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
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
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
Loans interest rates rises will hit borrowers
The Institute for Social and Economic Research (ISER) found that 659,000 households struggle to make home loans payments, with 117,000 in arrears. If the Bank of England raises the official rate by 1% to battle inflation, then a further 36,000 households will struggle with their payments. If the Bank raises its rate to where it [...]
March 28, 2011
Tags: bad debts, Bank of England, Debt Consolidation, Interest Rates, Loan calculator, loans Posted in: Bank of England, Bankrupcy, Borrowing Costs, Credit Crunch, Interest Rates, Lenders, Uncategorized 2 Comments
Financial squeeze set to hit families loans credit charity warns
Higher tax thresholds, fewer tax credits and rising interest rates are all likely to push middle earning families into debt a charity has said.Vulnerable families, especially those with children, will continue to face financial pain, the Consumer Credit Counselling Service (CCCS) said. Surprisingly- homeowners are facing higher unsecured debts than those who rent a home, [...]
March 16, 2011
Tags: bad debts, bank lending, Bankrupcy, banks, borrowing, Credit Crunch, Debt Consolidation, Lenders, Loan calculator Posted in: Bankrupcy, Borrowing Costs, Credit Crunch, Debt Management, Interest Rates, Lenders, Uncategorized 2 Comments
Debt advisors axed as funding cut in government cutbacks
Hundreds of debt advisers have stopped taking on new cases because their funding is to be axed next month. For the past five years, the £25m-a-year Financial Inclusion Fund has been paying for about 500 specialists in England and Wales to give free advice. But the cash is due to run out in March and [...]
February 2, 2011
Tags: bad debts, consolidate debt loans, Credit Crunch, Debt Consolidation, debt management plans, sub prime loans Posted in: Bankrupcy, Borrowing Costs, Credit Crunch, Debt Consolidation, Debt Management, Loans Calculators, Uncategorized 2 Comments
Cost of credit cards and loans to rise soon according to accountants
UK borrowers may soon have to pay hundreds of pounds more to cover the cost of credit card bills and loans an accountancy firm has predicted. Interest rates on unsecured debt will rise by 2%-3% in the coming three years, PricewaterhouseCoopers (PwC) believes. This would add £1,800 a year by 2015 to the typical household’s [...]
January 20, 2011
Tags: banks, borrowing, credit cards, Credit Crunch, Debt Consolidation, debt management plans, Interest Rates Posted in: Borrowing Costs, Credit Cards, Credit Crunch, Debt Management, Interest Rates, Lenders, Loans Calculators, Uncategorized 2 Comments
MPs to investigate football debt
MPs are investigate whether there is too much debt at professional clubs as part of a new inquiry into the running of football. The inquiry by the Culture, Media and Sport select committee will also look into whether there is any need for the Government to intervene in the running of the game, it was [...]
December 8, 2010
Tags: bad debts, borrowing, Credit Crunch, Debt Consolidation, Interest Rates, Loan calculator Posted in: Bankrupcy, Borrowing Costs, Credit Crunch, Debt Management, Lenders, Loans Calculators, Uncategorized 2 Comments
Debt collector firm Aktiv Kapital censured for targeting wrong people
A firm of debt collectors, Aktiv Kapital, has been censured for trying to take action against people who do not owe any money.The Office of Fair Trading (OFT) has told the company to stop chasing debts when it has been told in writing that they are pursuing the wrong person. The OFT said this sort [...]
November 29, 2010
Tags: bank lending, borrowing, consolidate debt loans, Credit Crunch, Debt Consolidation, debt management plans, Lenders, Loan calculator Posted in: Debt Consolidation, Debt Management, Lenders, Loans Calculators, Uncategorized 2 Comments
