Archive for September, 2006

Post Office calls for ‘honest’ PPI

by on September 21st, 2006

TweetShareAs it launches its own insurance policy for loan repayments, the Post Office criticised many PPI providers for failing to inform customers that they can shop around for better deals. Welcoming the announcement, Pula Houghton, spokesman for Which?, said in the Mail on Sunday: “We support any steps taken to make consumers realise they don’t [...]

Citizens Advice to tackle financial exclusion

by on September 21st, 2006

TweetShareThrough funding from Barclays, there should be an increase in face-to-face advisors and affordable financial services for low-income consumers. “[This] is an exciting opportunity to reach people in real need who would not normally seek mainstream debt advice,” said Citizens Advice director of policy Teresa Perchard. “They will be able to combine the benefits of [...]

£5m debt for graduates

by on September 21st, 2006

TweetShareThe average new student is set to graduate owing £15,000, over double the current average debt of £6,161, Callcredit has said. “Life is financially harder for students now than it has ever been and the decisions people make about their borrowing while they are studying will impact on their finances for years to come,” commented [...]

Loan cover cost investigated

by on September 20th, 2006

TweetShareMoneyfacts, Defaqto and moneysupermarket research has found that consumers do not always get the best deal available on PPI and are “being ripped off”. Simon Burgess, managing director of British Insurance Limited, commented on the findings, which have been tabulated: “The big players have already had their knuckles rapped by the Office of Fair Trading [...]

Interest rates a “cause for thought”

by on September 20th, 2006

TweetShareGinny Broad from Alliance & Leicester said that with the interest rate rising recently, it will affect individuals’ loan and debt levels. “We see bigger council tax bills and bigger gas and electric bills and I think that it is just all giving people cause for thought,” Ms Broad said on BBC One’s Breakfast. “So [...]

Financial comparison website warning

by on September 20th, 2006

TweetShareAccording to the report from MoneyExpert, itself a financial comparison website, consumers could be damaging their credit rating by applying for loans they will not be approved for. “Currently they [financial comparison websites] are overly focused on price which means they can provide banks and building societies with poor quality business as there is no [...]

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