Archive for June, 2006

TweetShareLast week, Lloyds TSB announced that while it was on course to deliver a strong set of results for the half-year, that mounting consumer bad debt was still a big problem for UK banks. “As indicated in our 2005 preliminary results in February, the expected further deterioration in the consumer lending environment in the first [...]

TweetShareWhile people may have an application for bankruptcy accepted, it does not mean it is the correct way out of debt. Other options, such as an Individual Voluntary Arrangement (IVA) can be much more suitable. People struggling with bad debts are often so glad to be clear of them that they pay no heed to [...]

TweetShareFollowing the recent research by Prudential that said that many pensioners are surviving on what equates to an average annual income of less than £5,000, the Consumer Credit Counselling Service (CCCS) has said that the level of debt for those over 60 saw a marked increase during 2005. The amount of money owed by the [...]

TweetShareIn fact, according to the Consumer Credit Counselling Service (CCCS), the number of people in extreme debt has more than doubled in the year from 2004 to 2005, with 2.7 per cent of the CCCS’ clients owing £100,000 or more. Over-indebtedness is a rising concern for the over 40s particularly, the demographic where the problem [...]

TweetShareThose heading into retirement are doing so with a debt burden hanging around the necks as more of their income is diverted towards paying for the essentials. As a result, some are being forced to take drastic measures, with five per cent taking on debt by borrowing from the bank or friends, with the same [...]

TweetShareDifferent factors such as average income, unsecured debt, savings and mortgage balances were compared across England, France, Italy, Germany and Spain. While the English can boast the highest wage earners and also the highest level of deposit savings, they ranked very badly when it came to consumer debt. In terms of the amount of unsecured [...]