Archive for September, 2007

IVAs ‘help borrowers face their problems’

by on September 30th, 2007

TweetShareIndividual Voluntary Arrangements (IVAs) can help people who are heavily indebted address their financial issues and to find a solution, one expert has made clear. In many cases, British borrowers effectively bury their heads in the sand and hope their debt management problems will solve themselves, suggests Nick O’Reilly, vice president of the Association of [...]

Young Brits get new credit card guide

by on September 29th, 2007

TweetShareA new guide has been launched by the UK’s payment association Apacs with the aim of helping teenagers and young people learn how to borrow responsibly and avoid unmanageable credit card debt. The association has also made another publication entitled “using cards – a parents guide” available, with the aim of giving adults advice that [...]

Bad credit homebuyers ‘will pay the price’

by on September 28th, 2007

TweetShareWould-be homebuyers in the UK have been warned that money lenders are likely to hike their repayment rates when dealing with someone who has a poor credit history, according to one financial expert. Mike Pendergast, a spokesperson for Zen Financial Services, suggests that while consumers who are keen to borrow money will likely find a [...]

Report casts doubt on ‘expert’ financial advisors

by on September 28th, 2007

TweetShareA report from the consumer group Which? has cast doubt over the credibility of supposed experts who offer advice on a variety of personal finance issues, it has emerged. Research from the organisation found that only 32 per cent of expert advisors who work for a particular banking group passed its ‘quality of service’ test. [...]

Young Brits ‘get used to debt’

by on September 28th, 2007

TweetShareYoung British consumers become accustomed to having debt management issues to deal with almost as soon as they enter adult life, it has been suggested. James Ketchell, from the Consumer Credit Counselling Service (CCCS), claims that it has become easier for young British adults to take on personal loan or credit_card_debt”>credit card debt, because many [...]

UK consumers ‘will have to tighten their belts’

by on September 27th, 2007

TweetShareUK consumers could be obliged to tighten their belts over the next few months as economic conditions leave many people out of pocket, according to one expert. Howard Archer, chief UK and European economist at Global Insight, insists that relatively high interest rates and “muted” increases in real incomes around the country could lead to [...]

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