TweetShareNew research has found almost 5.3 million people – eight per cent of consumers – are spending more than they earn, potentially heading towards debt management problems, arrears and bankruptcy. The study released by Legal & General found 57 per cent of people are now earning more than they spend on bills and debts, a [...]
Archive for July, 2008
Those living beyond their means “approaching 5.3m”
by News Team on July 31st, 2008
Couples may be staying together to avoid debt
by News Team on July 31st, 2008
TweetShareAn expert has suggested the credit crunch has pushed divorce rates down as people fear facing mortgage arrears and debt management problems alone. Consilium Financial Planning said while remortgaging was a financial option for couples going through a divorce prior to the UK’s economic slowdown, tighter regulations on mortgage deals now mean “this avenue leads [...]
Baby boomers keeping UK afloat?
by News Team on July 31st, 2008
TweetShareAccording to new research, people over 50 are helping the younger generations get through the credit crunch by providing financial help. Figures released from Mintel indicate ten per cent of baby boomers have adult children living at home and seven per cent do not receive financial contributions from their stay-at-home children. Furthermore, nearly a quarter [...]
Borrowers warned of application fraud
by News Team on July 31st, 2008
TweetShareThe first half of 2008 saw a 47 per cent rise in cases of application fraud where new finance was approved, it has been reported. Cifas, the UK’s fraud prevention service, said the identities of innocent people may have been used to obtain money illegally. Equifax, releasing the figures, has warned that those targeted by [...]
First-time buyers scheme potentially “terrific opportunity”
by News Team on July 30th, 2008
TweetShareThe government’s scheme to help people get onto the property ladder may benefit some first-time buyers, an expert has said. The Rent to Home Buy scheme announced recently by the government would allow certain households with an income of less than £60,000 a year to rent a property for 80 per cent or less of [...]
City breaks “not as attractive” during credit crunch
by News Team on July 30th, 2008
TweetShareBritish people are avoiding running up credit card debt by cutting down on holidays, a travel website has said. While main holidays are still popular, shorter city breaks are losing their appeal during a time of increased instances of bankruptcy and debt, according to comments from TravelSupermarket.com. Spokesperson Bob Atkinson said flight prices have gone [...]
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