Archive for January, 2009

Consumer debt must be “whittled down”

by on January 30th, 2009

TweetShareDebt management by consumers is needed to fight the recession, it has been suggested. According to David Kuo of Fool.co.uk, restoring the confidence of consumers is an important task in the current economic slowdown, particularly as personal debt levels continue to rise. “This debt, which now stands at over £1.4 trillion, must be whittled down [...]

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Bank of England ‘will try anything’ to rescue economy

by on January 30th, 2009

TweetShareThe Bank of England will be willing to try “virtually anything” to offer debt help to lenders and borrowers, it has been claimed. Jonathan Loynes, chief European economist at Capital Economics, stated that the Bank will consider a wide range of policy stimulus measures to aid the economy. He predicted that interest rates will reach [...]

Posted in Creditor Behaviour | No Comments »

Need for debt advice ‘greater than ever before’

by on January 29th, 2009

TweetShareThe need for people to be provided with debt advice has “never been greater”, it has been claimed. Beccy Boden Wilks, a spokesperson for the Money Advice Trust, revealed that the charity has received double the amount of calls it would normally deal with over the past year. “The indication is that there are definitely [...]

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Interest rates ‘will reach 0%’

by on January 29th, 2009

TweetShareThe Bank of England base rate could be on its way to reaching zero per cent, it has been suggested. Charles Davis, a senior economist at the centre for economics and business research, has forecast that the interest rates may fall to zero or 0.25 per cent and remain at this level for “a very [...]

Posted in Creditor Behaviour | 1 Comment »

Government ‘must increase flow of lending’

by on January 28th, 2009

TweetShareThe Treasury Committee has called on the government to take more action to improve the flow of credit in a bid to boost the economy. A publication from the committee has highlighted restricted bank lending as the “single most critical problem for the economy in the near term”. Chairman John McFall said that more debt [...]

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Prospective first-time buyers ‘saving more’

by on January 28th, 2009

TweetSharePeople who hope to buy their first home this year have been implementing debt management practices to save a deposit, research has found. Figures from Abbey Savings have shown that 38 per cent of those building up a deposit intend to increase the rate at which they stash their money away in 2009. And 40 [...]

Posted in Houses and Mortgages | No Comments »

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