Credit Card Rates May Rise Soon
With the recent figures released on credit cards and how much money the banks have had to write off in credit card debt, higher rates and penalties seem inevitable. In the third quarter of 2010, banks wrote off £3.47 billion – of which £2.14 billion was credit card debt. This figure is an indicator that [...]
Sarah Ferguson and others in severe debt can consider an IVA! Not long ago the Duchess of York, Sarah Ferguson, was in the global news for a mistake she made in negotiating access to her ex-husband, Prince Andrew, for 27,000 pounds in cash. It was later revealed that she was strapped for funds and might [...]
The Advertising Standards Authority has just announced that they will not allow misleading advertising by debt management companies. Companies advertising “free debt management” will have to justify this by not charging for anything except packaging and postage fees. In reality, this will exclude 95% of debt management firms from advertising themselves as “free”. Debt management [...]
Financenews.co.uk has been to the streets for this one. We asked 100 people in the streets of Manchester, what their most annoying financial sales call was. The winner was PPI Claims with 47% of the vote, closely followed by debt services and insurance. People claimed that by text message, 0845 number or 0800 number, they [...]
A large population of shopaholics across the UK have been unaffected by the recession, research has recently shown. Approximately 24 billion pounds of unsecured debt has been amassed during the downturn, according to the website Uswitch.
For those starting university this year, researchers predict student debt for education will rise to 25,000 pounds. The annual survey polled 2,000 students. The average yearly debt had increased by 5.4 per cent to 5,600 per year. However, the cost and future debt has not deterred enrollment. Many university courses are already full and students may not get their first choice.
Marking the third year of the credit crisis, Insolvency Service has released data that a total of 34, 743 people were declared insolvent during the April, May, and June months combined. This is 5 per cent more than during the same period in 2009. However, the number of insolvencies fell from 35,682 in the first quarter. Second quarter reporting was slightly lower than the previous quarters numbers by 2.6 percent.
