Archive for May, 2006

TweetShareAccording to a One Advice study, not only are 249,000 people missing mortgage deadlines, but well over a million more have racked up debts on credit cards and loans. The addition of 661,000 people accumulating credit card debt and 416,000 borrowing money through loans means that as many as 110,000 people could be heading towards [...]

TweetShareIrish consumers are being told by their regulator to put any money they will get from Special Savings Incentive Accounts (SSIAs), which will mature shortly, into paying off high interest debt. “Reducing outstanding debts will give you peace of mind and will give you more flexibility,” said Mary O’Dea, consumer director at the Financial Regulator. [...]

TweetShareThe Department of Trade and Industry (DTI) has launched a website highlighting how, starting next April, consumers will be able to take disputes to court and get clearer and better information. Teresa Perchard, director of policy at Citizens Advice, welcomed the protection offered: “We believe this can only strengthen the new act and make it [...]

TweetShareNew research from London Victoria shows that one in three adults in Britain will fancy a flutter during the World Cup, a situation which is made more alarming by the fact that 29 per cent of people don’t plan to save any money at all during this period. Of those among the male population who [...]

TweetShareThe bank has reported that bad debt at Barclaycard, its credit card arm, meant that money owed to it in 2005 surged by 44 per cent to £1.1 billion. “We’ve started a cycle of deterioration in credit quality in the UK,” commented analyst James Hamilton at WestLB, according to Reuters. Banks were now treating bad [...]

TweetShareBosses at the credit card firm claim that it was a typo and that the “three per cent of its customer base” offered the deal will only get six months, website This is Money reports. Cardholders claimed that the small print on the promotional material confirmed that they had until June to obtain the interest-free [...]