Archive for October, 2009

Creditors ‘to be more responsible’ under FSA reform

by News Team on October 19th, 2009

TweetShareBorrowers in the UK are to benefit from proposed revisions to the mortgage market by the Financial Services Authority (FSA), which will see affordability tests imposed on all mortgages to make lenders responsible for verifying an individual’s ability to pay. The FSA’s managing director of supervision, Jon Pain, noted that it is important the organisation [...]

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Debtors ‘should use internet’ during postal strikes

by News Team on October 16th, 2009

TweetShareBrits have been advised to turn to the internet to handle financial payments during the upcoming postal strikes so as to avoid incurring fees – a recommendation that could prove particularly useful to people struggling with debt management. Chief executive of the Payments Council Paul Smee said: “It’s worth taking five minutes to work out [...]

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Elderly people ‘should consider working in retirement’

by News Team on October 16th, 2009

TweetShareThose entering into retirement – and those already there – ought to contemplate taking up work during their twilight years, an industry expert has suggested, as a way of boosting their incomes and perhaps prevent them falling into debt. Andrew Harrop, head of public policy for Age Concern and Help the Aged, noted that “to [...]

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Good money habits ‘won’t last’

by News Team on October 16th, 2009

TweetSharePositive changes in attitudes towards money as a result of the recession are not expected to last, an insurance group has warned. Research from Aviva revealed that, although lifestyle alterations were made to save funds, just 35 per cent of adults expect to maintain these good habits as their disposable incomes increase. Principal clinical consultant [...]

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CMCs ‘not sensible’ for consumers

by News Team on October 15th, 2009

TweetShareClaims management companies (CMCs) have been dismissed by consumer champion Which? as a poor way for Britons to lower their debt levels. CMCs offer debtors the chance to discount outstanding debt on credit cards and loans using legal loopholes in the Consumer Credit Act, under which certain terms must be fulfilled otherwise the agreement is [...]

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Unemployed ‘at greater risk’ of high premiums

by News Team on October 15th, 2009

TweetShareThose currently out of work could find themselves paying more for products such as home insurance, a comparison website has warned, suggesting that those in debt could find their situations worsening as a result. According to Confused.com, many people remain unaware that unemployment can affect their insurance premiums, an indication that the possibility of sliding [...]

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