Archive for January, 2007

Southerners ‘have greater debts’

by on January 31st, 2007

TweetShareBefore applying for an individual voluntary arrangement (IVA), people in the north of England have average unsecured debts of £31,000, whereas those in the south have almost £45,000, according to research from Debtmatters. The report from the company also reveals that those in the north who end up applying for an IVA tend to ask [...]

Posted in IVAs, Personal Debt | No Comments »

Card holders ‘could get PPI compensation’

by on January 31st, 2007

TweetShareThe news comes after the Financial Services Authority (FSA) announced that it is imposing fines of more than £600,000 on GE Capital Bank, which operates cards on behalf of retailers. PPI is an insurance product that will repay the outstanding debt on a personal loan or other unsecured type of credit if the borrower is [...]

Posted in Creditor Behaviour | 1 Comment »

First-time buyers ‘risking all they have’

by on January 30th, 2007

TweetShareAccording to Yorkshire Bank’s latest Housebuyers report, more than 80 per cent of first-time buyers are considering taking out a 25 year-plus home loan, while only 39 per cent would rule out a mortgage that was five times their income. The report also reveals that three in ten new starters are so desperate to get [...]

Posted in Debt and Young People, Houses and Mortgages | No Comments »

Borrowers urged not to overextend themselves

by on January 30th, 2007

TweetShareJoel Lewis, spokesperson for CCCS, said that if commitments for personal loans, credit cards, store cards come to more than a fifth of a person’s income then they are probably in need of professional help. He advised those who are overextended to “seekadvice on handling your debts before doing anything else”. His comments follow a [...]

Posted in Personal Debt | No Comments »

‘Less than half of homeowners are under 35′

by on January 30th, 2007

TweetShareSince 2001, there has been a ten per cent fall in the number of adults aged under 35 who own their own home, which brings the overall figure down to 49 per cent, according to Propertyfinder. The firm said that many who expect to own a house between the ages of 29 and 35 are [...]

Posted in Houses and Mortgages | No Comments »

Consumer credit “low by historical comparison”

by on January 30th, 2007

TweetShareHowever, once the figures are seasonally adjusted, net lending went up by £400 million, far higher than the recent monthly average of £276 million. Annualised new borrowing on credit cards fell two per cent to £7,569 million in December, which equates to a decline of £263 million after seasonal adjustment has taken place, the BBA [...]

Posted in Personal Debt | No Comments »

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