Archive for July, 2007

TweetShareBorrowing money has become a common feature of 21st century British life and while some consumers are able to control their spending, many others find themselves in a cycle of debt that is difficult to stop, Tim Moss from Moneysupermarket.com has suggested. “Whereas 40 years ago, being in the red was considered a last resort, [...]

TweetShareSome of the largest financial services firms in Britain have been cutting their minimum repayment rates in recent months and uSwitch.com is concerned that the changes could lead to consumers taking considerably longer to pay off their credit card debt. Indeed, the price comparison firm insists that if minimum payment rates are maintained at their [...]

TweetShareThe government agency charged with supplying unemployed Britons with their benefit money, Jobcentre Plus, has undergone a series of modernisation initiatives in recent months that have left some of the most vulnerable consumers facing a financial struggle, Citizens Advice insists. Long delays in payment allocations and a lack of face-to-face services from Jobcentre Plus have [...]

TweetShareHoward Archer, chief UK and European economist for Global Insight, is convinced that the Bank of England will opt to raise the base rate of interest at some point later this year. Any increase would lead to added financial pressures for credit consumers and mean a rise in repayment rates for homeowners around the country. [...]