Personal insolvencies expected to soar

A recent report has claimed that the number of personal insolvencies in the UK is expected to soar, with a new alternative to bankruptcy expected to result in figures rising. Debt Relief Orders have come into force this month, and it is thought that they will result in personal insolvency levels rising by around 20 [...]

Number of passengers using British airports plummets

According to a recent report the number of passengers using British airports has plummeted for the first time in around seventeen years, suggesting that millions of people may be opting to avoid air travel at the moment because of the financial problems that they are experiencing due to the credit crunch and the recession.
The weak [...]

Number of firms going bust has soared

Recently released figures have shown that as the recession in the UK continues to take a hold, an increasing number of firms and businesses have been going bust. Figures from the Insolvency Service have shown that liquidations rocketed in the last quarter of last year, as the recession got worse and banks continued to restrict [...]

Misleading debt advice sites targeted by watchdog

The UK consumer watchdog, the Office of Fair Trading, has been targeting misleading debt advice sites that are supposed to deal with debt management programmed for consumers but have apparently ended up misleading troubled consumers that are trying hard to get themselves out of debt.
A total of thirteen companies is being targeted by the OFT, [...]

Many pensioners having to sell their homes

A recent report has suggested that an increasing number of elderly homeowners in the UK are being forced to sell their homes every year in order to get the money together to get a place in a care home. It is estimated by one leading charity that around sixty thousand homeowners are having to sell [...]

Consumers cut back on eating out due to credit crunch

A major lender in the UK has recently claimed that a rising number of consumers in Britain are cutting back on the luxury of eating out as a result of the credit crunch. The ongoing difficult financial climate has left many facing financial difficulties when it comes to the household budget, and one of the [...]

Brits lose sleep over credit crunch

According to figures that were recently released many people in Britain are losing sleep because of the global credit crunch and its effects. The results of the recent poll have found that around 50 percent of Brits are now getting a worse night’s sleep than they were just a year ago, with the effects of [...]

Record losses for RBS

According to a recent report the Royal Bank of Scotland is set to receive a further £13 billion worth of taxpayers’ money after reporting record losses under the leadership of disgraced boss Sir Fred Goodwin, who himself is at the centre of controversy and faces a legal battle with the government over the £693 million [...]

Only a small number of homeowners will benefit from repossession schemes

A number of industry officials have expressed concern over the various government initiatives that have been launched recently in order to help struggling homeowners and keep the rising number of repossessions at a minimum. Some officials believe that only a very small number of households will benefit from these schemes, which means that many homeowners [...]

Huge debts being accrued by women in their twenties and thirties

According to data in a recent report many women in their twenties and thirties are running up huge debts, with many trying to cope with much higher loan costs since the latter part of last year. Many women in this age group as said to be turning to expensive forms of borrowing such as store [...]

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