Low interest rates have not helped with family debt

With the UK’s personal debt levels spiralling, and many struggling to hold on the their homes due to the inability to meet mortgage repayments, it was hoped that by bringing the base interest rate down to just 0.5 percent – its lowest level in the history of the Bank of England – households would be [...]

Card users could spend more this December than last year

The effects of the recession and the financial crisis are still causing havoc in households all around the country, and the many job losses that have been seen over the past year or two have left many people struggling to afford purchases and bill payments, and many are living with overstretched budgets on a month [...]

Will households cope with debt?

There are concerns that many households in the UK are not coping with debt or bill payments, after a recent survey by the Bank of England showed that over 50 percent of those that they polled with struggling with payments. The central bank carried out an annual survey into household debt and spending, and the [...]

Many hope to avoid debt by getting cash for Christmas

Christmas is a time of fun, merriment, giving – and great expense, and many people find themselves getting deeper and deeper into debt when Christmas comes around. However, it appears that some consumers hope to recoup some of the money that they spend over the festive season through the receipt of cash gifts from loved [...]

Many people concerned over repayment of debt

A recent survey has shown that many people in the UK have run up unsecured debts that they fear they may never be able to repay. Over the past few years many people have run up a range of unsecured debts, from loans and overdrafts to credit cards and store cards, and in the current [...]

Is it worth getting into more debt this Christmas?

Recent reports have painted a worrying picture with regards to the connection between Christmas and debt amongst consumers in the UK. With the financial climate still in a poor state following the global financial crisis and the recession many people are bound to be cash strapped this year, and many will be relying on credit [...]

More young people being helped with debt issues

It has been reported that there has been an increase in the number of younger people that are seeking help with debt problems, according to a charity. Many people are struggling with debt throughout the UK these days, but people tend to assume that those experiencing debt issues are usually older people with mortgages and [...]

Five year low for insolvency in England and Wales

Official figures that have been released recently have shown that insolvency levels in England and Wales have fallen to their lowest in nearly five years in the third quarter. During the three months to the end of September 13,907 people in England and Wales went bankrupt, and this was the lowest level since the final [...]

Are people more willing to get into debt?

Based on the opinion of one industry officials more people in the UK are now willing to put themselves into further debt by overspending on their credit cards and by using personal loans or overdrafts. The industry expert believes that consumers these days do not feel quite so embarrassed about their bank account being empty [...]

OFT warns about debt firms

With so many people struggling with high levels of debt these days more and more are turning to firms that promise to help them to sort out or even escape their debts. However, as more and more of these so called debt clearance firms come out of the woodwork the Office of Fair Trading has [...]

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