The leader of the opposition, David Cameron, has accused Labour of leaving the economy in an utter mess. The Conservative leader made this comment after Alistair Darling, the chancellor, had confirmed that the economy is expected to shrink by 3.5% over the next twelve months. Mr Cameron criticized Labours economic record, describing it as “tarnished”. [...]
April, 2009
Credit card firms causing debt problems
Credit card companies are out of touch with their customers, and could be fuelling debt problems, according to consumer watchdog Which?’s report. They found that 28 major credit card lenders had either raised charges or interest rates, or reduced the interest-free period on new purchases. According to the organisation’s findings, the average interest rate on [...]
Redundant City execs offload designer goods in bid to raise cash
It seems that the recession is also hitting city executives hard, as the number of designer goodies being sold by people who have been made redundant has risen. Trading website Gumtree reports that designer bags and mobile phones worth around £3,000 are being sold at knockdown prices, as redundant city bankers and executives raise cash [...]
Recession strikes again
The recession appears to be claiming the same victims as previous ones, as traditional manufacturing areas bear the brunt of the current economic slump, according to recent research. Unemployment as a percentage of the local population was rising fastest in the established industrial areas of the Midlands, northern England and south Wales the findings from [...]
Credit Card Debt Relief
These days, almost everyone uses credit cards as part of their daily life, but with personal loans, store cards, catalogues and other bills adding to the problem, its not surprising that many people are in need of credit card debt relief. For many people, using their credit card regularly isn’t a present a problem until [...]
Debt Consolidation Help
If you’re struggling with your finances or having difficulty managing all of your credit commitments and are looking for some debt consolidation help, then you’ve come to the right place. The current financial climate has meant that many people are struggling to manage their finances, as the recession, unemployment and the credit crunch grip the [...]
Base rate of interest on hold
The base rate of interest has been kept on hold by the Bank of England, as they consider alternative options to kick-start the economy. Following six rate decreases, the base rate remains at its historic low level of 0.5%, down from 5% since October last year. The government and the Bank are working together to [...]
Debt Loans
For many people who are struggling with their finances, the first options they often think of to help relieve their situation are debt loans. Debt loans (or debt consolidation loans as they are often called) are consolidation loans that gather all, or part, of any outstanding balances into one single payment. In theory this can [...]
Taxes encouraging credit card debts to grow
Taxpayers can now pay bills by credit card, raising concerns that they face an increased risk of getting deeper into debt and could see credit card debts rise sharply. Earlier this month, HM Revenue & Customs announced that this is the first year people paying their tax bills can do so with their credit card [...]
Debt Relief Orders
According to recent figures released, the number of personal insolvencies looks set to surge by around 40% to a record 150,000, thanks to the introduction of a new form of insolvency – the Debt Relief Order. Leading accountancy firm, KPMG, predict the increase based on the current economic climate, along with Bank of England statistics [...]
