Even though borrowing rates are at historically low levels, some credit card firms have hiked interest rates on cards aimed at their poorer consumers. Less than a month ago the Bank of England reduced base rate interest to its lowest recorded level. Despite this, one of the UK’s largest credit card providers, Capital One, has [...]
January, 2009
Pre-paid energy meters under attack
Pre-paid gas and electricity meters have been slammed after reports of bills exceeding £60 per week resulting in Dickensian-type living conditions. The study by Transact (a consortium of debt advice agencies, credit unions and housing associations) claimed that its members had reported high levels of financial hardship brought about by the unreasonable energy charges. The [...]
Clearing the Air?
Hmmmm, just when I thought things were just about as bad as they are going to get I hear that we’re in trouble because of unacceptable levels of air pollution! The European Commission has warned the UK that it has failed to meet the required standards as far as their clean air policy is concerned [...]
Above the Law
I have mentioned in previous articles my concern regarding the Government apparently placing itself above the law (the Lloyds TSB/HBOS merger, the pushing through of the approval for Runway 3 etc), now it appears that one of our greatest icons is also considered to be above the law. I am talking about none other than [...]
Minister slams debt collectors
Consumer Minister Gareth Thomas is to meet debt collection industry representatives, amid concerns of practices employed by collection agencies and that a growing number of people are being wrongly pursued. Minister Mr Thomas said:””I am increasingly concerned about some of the practices that we are hearing about used by debt collection agencies. There is often [...]
Baroness admits balls-up
It’s learned that the medical condition called “cello scrotum” has been declared a hoax. A top doctor has owned-up to her part in fooling a leading medical journal after inventing the condition in the 1970′s. Fortunately for Elaine Murphy – now Baroness Murphy – no one faces the sack for failing to spot the implausibility [...]
Debt to deal with debt?
Many families may be wrongly encouraged to take on more debt as a way of handling the recession, according to debt advice organisations. Debt advice charities have reported record numbers of calls from families and older people needing debt help, and who are struggling to maintain their loan repayments due to unaffordable credit commitments and [...]
Uplift in the economy? It’s just cosmetic
Despite the recession and credit crunch, it’s not just the economy where it’s going t**’s up. More people are having cosmetic surgery according to figures from the British Association of Aesthetic Plastic Surgeons. Over 34,000 procedures were performed in 2008 – an uplift of over five per cent on the previous year. The number of [...]
Demographic Debt
I have just received the National Debtline Statistics for 2008 and it makes for some interesting reading. I often see reports talking about ‘vulnerable’ sectors of the population, the aged, the disabled, the unemployed and so on but, judging by this report, the sort of person most likely to seek debt help or debt advice [...]
Dangerous cheques push users unknowingly into debt
Many credit card companies are targeting existing customers with blank “cheques” for their accounts that could be potentially financially harmful, according to consumer group Which? and moneysupermarket.com. Increasing numbers of these credit card cheques are being sent to existing customers as lenders try to exploit the lack of available credit in the marketplace, as they [...]
