Archive for October, 2006

Budding FTBs urged to clear debt

by News Team on October 23rd, 2006

TweetShareSkipton Building Society said that those looking for a home should start saving as early as possible, control their spending and look at debt management before committing to a mortgage. “Faced with industry figures – which put the average cost of a house in the UK at nearly £200,000 – climbing onto the property ladder [...]

Posted in Debt Management | No Comments »

CSA errors leaving parents in debt

by News Team on October 23rd, 2006

TweetShareUlster Unionist MP Lady Sylvia Hermon called the scale of the figures “shocking”, a sizeable amount of money that could lead many people to consider bankruptcy. “On the face of it this debt and these figures are shocking,” said Lady Hermon on UTV “Remember, each pound unpaid of this £58.6 million puts financial pressure on [...]

Posted in Bankruptcy | No Comments »

Lending growth down in September

by News Team on October 23rd, 2006

TweetShareAccording to the British Bankers’ Association (BBA), net growth was £10 billion, “well down” on August’s loan increase of £14.6 billion and the six-month average of £15.4 billion. The rise in credit card debt fell at a slower rate than before. It decreased by £76 million compared with a fall of £496 million in August [...]

Posted in Personal Debt | No Comments »

OFT to investigate PPI

by News Team on October 23rd, 2006

TweetShareAmidst growing criticism that PPI is hard to claim and could push people into unnecessary debt, the watchdog is to clamp down on the loan insurance sector. “Following the work we have undertaken it is clear that many consumers are failed by PPI – insurance which gives them a poor deal and often less protection [...]

Posted in Debt Management | No Comments »

FSA ‘helping with finances’

by News Team on October 22nd, 2006

TweetShareIn its report on the success of the National Strategy for Financial Capability, the authority states that it has helped “thousands” and will go on to help a further ten million with financial and debt management advice by 2010. John Tiner, chief executive of the FSA, said: “Despite being in the early days of delivery, [...]

Posted in Debt Management | No Comments »

PPI sellers ‘continue to be unfair’

by News Team on October 21st, 2006

TweetShareIn its reviews of firms selling the policies that are meant to offer protection on loan repayments, the authority said that information was often unclear and PPI was even sold when it was of no benefit to the holder. “The bottom line is that customers should come away from the sale having been given the [...]

Posted in Personal Debt | No Comments »