Archive for the ‘Personal Debt’ Category

TweetShareSpeaking in an interview, trade and industry minister Jim Fitzpatrick said that easy lending had “stoked the flames” of bad debt. “If we’ve got a rise in indebtedness, if we’ve got a rise in people having difficulty in servicing that debt… then maybe the banks are lending too much money, or maybe they’re not being [...]

TweetSharePayments association Apacs claims that the amount of people repaying their credit card debt each month in full has risen while the number of transactions fell to 2.1 billion. Although this is only a one per cent drop on the previous month and it still represents a one per cent increase in total credit card [...]

TweetSharehas been launched to help reduce the £1.2 trillion that Britons owe. The UK Debt Help Manual has been published by the Debt Counsellors with claims that it is a “comprehensive guide” for those struggling to make repayments. John Porter of the Debt Counsellors said: “We have produced The UK Debt Help Manual to raise [...]

TweetShareIn addition, the Standard Life Bank study found that half the population wants debt advice to help them get their finances in order and become happier. Will Fraser, national sales manager at Standard Life, said: “The research shows that professional advice plays a valuable role in people’s well-being, which is positive news for the advice [...]

TweetShareJim Spowart, the man behind the Standard Life and Intelligent Finance banks, called for action to tackle credit card debt built up by expensive cards. “Credit cards are an essential part of our everyday lives but there is no justification for such rates other than pure banking greed,” Mr Spowart said in the Daily Mail. [...]

TweetShareAccording to Prudential, Britain’s younger generation is hoping for a sensible retirement, possibly because debt is knocking back the prospect of a retirement of world cruises. Ali Crossley, Prudential UK’s director of lifetime mortgages, said that it was good that many young people had a positive outlook for the future. However, he warned: “Many of [...]