Northern Rock sale investigated by National Audit Office
The £747 million sale of Northern Rock to Virgin Money is to be investigated by the National Audit Office (NAO).NAO head Amyas Morse confirmed the audit in a letter to shadow financial secretary Chris Leslie, but added that he had no power to intervene. The sale of the state-owned bank is likely to mean a [...]
February 1, 2012
Tags: Bankrupcy, banks, borrowing, Credit Crunch, debt management plans, Loan calculator, nationalisation, refinancing rates, sub prime loans, uk recession Posted in: Bankers, Bankrupcy, Credit Crunch, Debt Consolidation, Finance, Financial Services, Lenders, Loans Calculators, Uncategorized, nationalisation 
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Bank of Dad and Mum keeps subsidising youngsters
Bank of Dad and Mum keeps lending to children.Tradition has it that the keys to the family home are handed over to a young man or woman when they reach the age of 21. But the tradition has become obsolete. Nowadays, it may be more appropriate for sons and daughters to give the keys to [...]
January 30, 2012
Tags: bank lending, banks, borrowing, Credit Crunch, Loan calculator, personal loans, refinancing rates, sub prime loans, uk recession Posted in: Bankers, Borrowing Costs, Credit Crunch, Finance, Home Loans, Lenders, Sub Prime Loans, Uncategorized No Comments
Lender loses personal details of 1.4 million borrowers
Some 1.4 million borrowers have been receiving letters informing them that their personal details have been lost.The names, addresses and payment histories of 600,000 clients of Welcome Financial Services Limited and Shopacheck were lost, along with the names and addresses of another 800,000. The Cattles Group, the parent company of both brands, has apologised. Two [...]
January 23, 2012
Tags: bank lending, bankers, Debt Consolidation, debt management plans, Loan calculator, sub prime loans Posted in: Bank Lending, Debt Management, Lenders, Loans Calculators, Sub Prime Loans, Uncategorized No Comments
Debt experts issue help delay warning
Debt experts are warning people not to delay seeking help if Christmas has tipped them into unmanageable debt.The Insolvency Service of England and Wales is highlighting the difficult financial situation facing some young people. It says more are turning to a new form of bankruptcy called a Debt Relief Order (DRO) to protect themselves from [...]
January 18, 2012
Tags: bad debts, consolidate debt loans, Credit Crunch, deb, Debt Consolidation, debt management plans, Interest Rates, Loan calculator, sub prime loans Posted in: Credit Cards, Credit Crunch, Debt Consolidation, Debt Management, Lenders, Loans Calculators, Sub Prime Loans, Uncategorized No Comments
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
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
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
Barclays Bank basic current account customers face fee rise
Basic current account holders at Barclays Bank face more frequent charges if they fail to keep sufficient funds in their accounts.Basic accounts, often opened by those with a chequered credit history, do not offer cheque books or overdrafts. At present, there is a maximum charge of £8 a day if direct debit or standing order [...]
January 5, 2012
Tags: bank lending, bankers, finances, Loan calculator, personal loans, sub prime loans Posted in: Bankers, Banks, Borrowing Costs, Credit Crunch, Finance, Lenders, Loans Calculators, Uncategorized No Comments
Millions turn to payday loans claim insolvency experts
Millions of Britons are likely to take out a high interest loans in the next six months to last them until payday a group of insolvency experts claims.R3, which represents “professionals working with financially troubled individuals and businesses”, bases its claim on interviews with 2,000 people. Some 60% of those surveyed worried about their level [...]
December 29, 2011
Tags: bankers, borrowing, Credit Crunch, debt management plans, refinancing rates, sub prime loans, uk recession Posted in: Bankers, Borrowing Costs, Credit Crunch, Debt Management, Finance, Interest Rates, Loans Calculators, Payday Loans, Sub Prime Loans, Uncategorized No Comments
