Chinese local government’s massive debts revealed
The first ever audit of China’s local government debt reveals it at a massive £1 trillion. A comprehensive review of regional spending uncovered the borrowing, equivalent to £750 per person. The Chinese audit office said future borrowing will be restricted. Although China is one of the world’s fastest-growing economies, with a huge currency reserve and [...]
June 29, 2011
Tags: borrowing, consolidate debt loans, Credit Crunch, Lenders, Loan calculator, loans, refinancing rates Posted in: Bankers, Borrowing Costs, Business Finance, Credit Crunch, Debt Management, Lenders, Loans Calculators, Uncategorized 
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How credit card lenders’ bad records can benefit borrowers
Some courts are backing people in debt- if lenders such as credit card companies have failed to abide by the strict requirements of the consumer credit laws. Typically these borrowers have not denied running up debts on their cards, but they have challenged their lenders to prove they have jumped through all the hoops necessary [...]
June 2, 2011
Tags: banks, borrowing, Credit Crunch, Loan calculator, loans, refinancing rates Posted in: Bankers, Banks, Borrowing Costs, Business Finance, Credit Cards, Credit Crunch, Debt Management, Lenders, Loans Calculators, Uncategorized No Comments
Business Secretary warns banks to increase lending
Business Secretary Vince Cable says he wants a significant improvement after official data showed UK banks are behind track in their lending to smaller firms. Bank of England figures show that in the first three months of 2011 the top five UK banks loaned £16.8 billion to small and medium sized (SMEs) companies. Under a [...]
May 25, 2011
Tags: bank lending, banks, borrowing, business finance, business loans, Credit Crunch, finances, Loan calculator, loans Posted in: Bank of England, Bankers, Banks, Business Finance, Credit Crunch, Debt Management, Lenders, Loans Calculators, Uncategorized 2 Comments
Sir Fred Goodwin obtained super injunction to hide alleged affair with senior colleague
Sir Fred Goodwin- “Fred the Shred”- the former chief executive of the nationalised Royal Bank of Scotland, obtained a super injunction to hide details of an alleged affair with a senior colleague, it has been disclosed on the floor of the House of Lords. Details of the draconian injunction – so strict that it prevents [...]
May 19, 2011
Tags: bankers, banks, Loan calculator, loans, nationalisation Posted in: Bankers, Banks, Lenders, Uncategorized, nationalisation 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
Bankers still considering appeal on PPI
Senior banking executives are meeting to discuss appealing a ruling over Payment Protection Insurance (PPI).Last week, the High Court ruled that banks had wrongfully sold PPI to millions and that they are now obliged to refund all affected customers. Lloyds, the biggest seller of PPI, said that it would repay all customers missold such policies, [...]
May 13, 2011
Tags: bankers, Bankrupcy, banks, Lenders, Loan calculator, loans Posted in: Bankers, Banks, Credit Crunch, Lenders, Loans Calculators, Uncategorized No Comments
Lloyds Banking Group reports £3 billion cost of PPI provision
Lloyds Banking Group has announced a first quarter loss, after making a £3.2 billion provision for mis-selling claims by customers who took out payment protection insurance (PPI). Lloyds reported a loss of £3.47 billion for the first three months of the year. It made a £721 million profit a year ago. It also took a [...]
May 11, 2011
Tags: bank lending, banks, borrowing, Lenders, Loan calculator, loans Posted in: Bankers, Banks, Borrowing Costs, Independent Finance, Interest Rates, Lenders, Loans Calculators, Uncategorized One Comment
Barclays Bank first quarter profit falls by 9%
Barclays Bank has reported a 9% fall in pre-tax profits for the first three months of the year to £1.66 billion. The fall was largely due to a drop in profits from corporate and investment banking, which were down by 29% at £983 million compared with a year ago. However, profits at its retail and [...]
May 9, 2011
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Icelandic voters reject bankrupt banks repayment deal
Icelanders have rejected the latest plan to repay the UK and Netherlands some 4bn euros lost when the country’s banking system collapsed in 2008. The partial referendum results show 58% voting no, and 42% supporting the plan. Johanna Sigurdardottir, Iceland’s Prime Minister, said the rejection meant “the worst option was chosen”. UK Treasury minister Danny [...]
April 26, 2011
Tags: Bankrupcy, banks, borrowing, Credit Crunch, Loan calculator, loans Posted in: Bankers, Bankrupcy, Borrowing Costs, Credit Crunch, Lenders, Loans Calculators, Uncategorized, nationalisation One Comment
Office of Fair Trading shuts down bogus loan websites
19 websites claiming to offer loans have been closed down by the Office of Fair Trading (OFT). The websites did not have Consumer Credit Licences to operate as credit brokers. However, the OFT said they were really aimed at garnering people’s personal data, which was then sold to other businesses. The websites were all run [...]
April 20, 2011
Tags: borrowing, consolidate debt loans, Credit Crunch, debt management plans, Loan calculator, loans Posted in: Bankers, Borrowing Costs, Credit Crunch, Debt Management, Lenders, Loans Calculators, Uncategorized No Comments
