May, 2008

More than 96 per cent of Brits are worried that they won’t be able to cope if fuel prices keep increasing, according to a survey by moneysupermarket.com. The online financial website found that 66.9 per cent of those polled were ‘very concerned’ that they couldn’t cope, and a further 29.2 per cent were a ‘little [...]

More of the UK’s middle-classes are feeling the pinch of the credit crunch according to a report aired on BBC Radio 5 live. The figures released show that there has been an increase in the number of professionals and homeowners unable to cope with their debts in some of the more affluent areas of the [...]

More than a third of all adults are only a month away from financial hardship, a study from credit agency Callcredit has revealed. Their report shows that 40 per cent of the UK’s working population could not survive for more than a month on savings alone. The most at risk are those aged between 25 [...]

There has been a 55 per cent increase in the number of people taking out payday loans since September last year, according to research from moneysupermarket.com. Their study shows that as the price of essential items (like petrol and fuel) has continued to rise, so too has the demand for short-term payday loans to tide [...]

According to official government figures the current recession is seeing the fastest rising unemployment rate since the 1980s, so debt advice organisations are preparing for the increased demand for their help. The Office For National Statistics figures show that the hardest hit have been those living in the West Midlands and people working in the [...]

A Scottish mansion has been repossessed proving that even those with access to millions can develop debt problems. The 17th-century mansion in Fife, Scotland, was built in 1697 for the 1st Earl of Melville and has 11 bedrooms, seven reception rooms, a cricket pitch, stables and a tennis court. Unfortunately it doesn’t have a cash [...]

The number of people who face losing their home has increased in England and Wales according to a Ministry of Justice report. Its figures show that the number of mortgage possession orders – when courts grant an order for possession of a home – has risen in the first three months of 2008. 27,530 mortgage [...]

According to statistics from the National Institute of Economic and Social Research (NIESR), the current recession the UK is experiencing could be the worst since the early 1930s. In its economic review, the leading research body revealed that in 2009 the UK’s gross domestic product (GDP) could contract by 4.3%. A NIESR spokesperson said: “There [...]

Only three months into the year and already over 25,000 people have become casualties of the insolvency epidemic, a report from The Insolvency Service reveals. Their figures show that in the first quarter of 2008 there have already been 25,264 individual insolvencies reported; a 1.7 per cent increase from the last quarter in 2007. This [...]