TweetShareIn its latest trading update, Barclays said that while its credit card arm was still performing well, it was still concerned by bad credit card debt. “The rate of growth in impairment charges continued the trend of the first half, driven by a higher level of insolvencies,” Barclays said. However, it stated that “the flows [...]
Archive for November, 2006
Insolvency levels hitting credit card firms
by News Team on November 30th, 2006
BoE: Lending above average in October
by News Team on November 30th, 2006
TweetShareBanks’ total net lending to individuals increased by £10.9 billion, higher than the increase in September and the six-month average of £10 billion. Similarly, the increase in consumer credit grew by £1.1 billion last month, including a £0.2 billion increase in credit card debt. While credit card debt growth was £0.2 billion less than in [...]
Standard Life: Make saving easier to tackle debt
by News Team on November 30th, 2006
TweetShareCommenting on its latest savings index, Standard Life said that only 58 per cent of people regularly saved and merely a third were happy with their provision for retirement. “The UK has the highest level of personal debt in Europe and for this to change we must make it as easy to save as it [...]
SIVAs hailed as new debt solution
by News Team on November 29th, 2006
TweetShareSpeaking to Reuters, Mike Norris, director of policy at the Insolvency Service, said that the move should help consumers avoid bankruptcy. “By keeping people out of bankruptcy and, where appropriate, getting them into Simplified IVAs, we would expect to see better returns for creditors,” Mr Norris said. “That’s both in general terms, as the returns [...]
Britain is ‘a nation of debtors’
by News Team on November 29th, 2006
TweetShareRichard Lander, director at Citwire.co.uk, reports that the latest monthly update from Seven Investment Management warns about the UK’s poor debt management. “Britons are a nation of debtors. According to Bank of England data, lending to UK individuals stands at £1,257 billion, equivalent to £21,000 per capita,” he reports. “UK per capita household debt is [...]
Sub-prime mortgage lender warning
by News Team on November 29th, 2006
TweetShareAccording to the Financial Services Authority (FSA), advertising affects people’s debt management decisions, which is why misleading literature can be dangerous. Vernon Everitt, FSA retail themes director, remarked: “Financial advertising has a massive influence on the decisions people make. “So it must be clear, fair and not misleading…This is particularly the case in advertisements by [...]
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