Taxman to make money from Payment Protection Insurance (PPI)
Millions of people are facing an unexpected tax bill on their Payment Protection Insurance (PPI) claims payouts.The banking industry has set aside £6 billion to pay for the mis-selling of PPI. Customers were awarded compensation plus interest of 8% by the Financial Services Authority on the money they originally spent on PPI. This interest will [...]
November 29, 2011
Tags: bankers, banks, borrowing, Credit Crunch, Interest Rates, refinancing rates Posted in: Bankers, Banks, Credit Crunch, Financial Services, Lenders, Uncategorized 
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World economy on verge of new jobs recession- ILO
The global economy is on the verge of a new and deeper jobs recession that may ignite social unrest, the International Labour Organization (ILO) has warned.It will take at least five years for employment in advanced economies to return to pre-crisis levels, it said. The ILO also noted that in 45 of the 118 countries [...]
November 4, 2011
Tags: Bankrupcy, Credit Crunch, recession, refinancing rates, unemployment Posted in: Credit Crunch, Finance, Uncategorized, Unemployment 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
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
Bank of England member calls for credit boost
Adam Posen, a member of the Bank of England’s interest rate-setting committee, has said the UK economy needs an instant credit boost.In a speech, he said the Bank should help the government to set up and fund a new bank to boost lending to small and medium-sized businesses. Mr Posen is the only Monetary Policy [...]
September 30, 2011
Tags: bank lending, Bank of England, bankers, banks, Credit Crunch, debt management plans, Quantitative Easing, recession, refinancing rates, UK loans rates, uk recession Posted in: Bank of England, Bankers, Banks, Business Finance, Credit Crunch, Debt Management, Finance, Interest Rates, Loans Calculators, Sovereign Debt, UK Loans Rates, Uncategorized, Unemployment No Comments
Personal insolvencies stabilising official figures show
The number of people and businesses going bust has been stabilising, official figures show.The Insolvency Service said personal insolvencies in England and Wales rose 1% in the second quarter of the year. Although they went up by 368 to 30,513, personal insolvencies have effectively been flat for the last nine months. Meanwhile, the number of [...]
August 12, 2011
Tags: bad debts, bankers, Bankrupcy, banks, borrowing, Credit Crunch, refinancing rates Posted in: Bankrupcy, Banks, Credit Crunch, Debt Management, UK Loans Rates, Uncategorized No Comments
Loans interest rates must rise claims top bankers
The Bank for International Settlements (BIS) has warned that low interest rates across the globe are a threat to world financial stability. The BIS has warned that the low cost of borrowing had resulted in a credit and property price boom which was fuelling inflation, especially in emerging economies. Central banks across the globe have [...]
July 6, 2011
Tags: Bankrupcy, banks, borrowing, Credit Crunch, finances, Interest Rates, Lenders, Loan calculator, loans, refinancing rates Posted in: Bankers, Banks, Business Finance, Credit Crunch, Finance, Interest Rates, Lenders, Loans Calculators, Uncategorized, inflation No Comments
Desperate ECB shoots messenger over Greek debts
In a desperate attempt to preserve German and French banks’ from having to write off huge Greek debts at eu taxpayers’ expense the ECB has announced that they will disregard credit ratings default analysis.Plans to allow Greece to defer the repayment of its debt have been dealt a blow after Standard & Poor’s said the [...]
July 5, 2011
Tags: bank lending, Bankrupcy, banks, Credit Crunch, ECB, euro, refinancing rates, sovereign debt Posted in: Bankers, Bankrupcy, Banks, Borrowing Costs, Credit Crunch, Debt Management, Lenders, Loans Calculators, Sovereign Debt, Uncategorized No Comments
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 No Comments
UK public sector borrowing falls in May
The UK’s public sector net borrowing fell in May- reversing a surprise rise in government borrowing seen in April. The total borrowing requirement, excluding the cost of bank bail-outs and other interventions, was £17.4bn for the month, the Office of National Statistics (ONS) said. This was down 6% from a year ago, helped by a [...]
June 22, 2011
Tags: Bank of England, banks, borrowing, debt management plans, Loan calculator, refinancing rates, sovereign debt, UK loans rates Posted in: Bank of England, Bankers, Banks, Borrowing Costs, Credit Crunch, Lenders, Loans Calculators, Sovereign Debt, Uncategorized No Comments
