According to figures released by the Nationwide building society, house prices went up by 0.9% during June. This news has been welcomed by debt management providers, since an end to the housing slump could offer additional options to over indebted consumers by way of debt consolidation loans. The Nationwide confirmed that house prises have risen [...]
June, 2009
Refund delay could leave more needing IVA help
UK banks, and many of their customers will be kept waiting until August for an outcome to the bank charges debacle, as the Law Lords have delayed a final decision on the matter until later this year. A substantial amount of money is at stake, with the UK banks currently earning more than £2 billion [...]
Women’s spending hides future debt management issues
Research on the spending patterns of Britain’s women has revealed that they may be storing debt management issues for the future by continuing spending. The study, by Post Office Financial Services, found that millions of women are secretly borrowing money from relatives to maintain their spending habits, as they try to uphold their image and [...]
Unclaimed benefits could ease debt management worries
Around £10.5bn worth of income-related benefits went unclaimed in 2007-9 in Britain, which could have eased many people’s debt management issues. The figures, published annually by the Department of Work and Pensions (DWP), showed that between 15 – 23% of all entitlement money went unclaimed from the five key income-related benefits – Income Support, Jobseekers [...]
Women more likely need debt management help
In an effort to match their celebrity idols, women now make up the majority of young bankrupts in Britain, according to a leading accountancy firm. The report from Wilkins Kennedy said that of all under 24-year-olds going bankrupt, 55 per cent were women – against just 48.3% five years ago. In 2008 there were 1,560 [...]
Debt management could help control credit card debt
Recent research has shown that people are cutting back on using plastic, in order to reduce the size of their credit card debt. According to figures from Tescocompare.com, more that a third of all individuals that are trying to spend less on credit, are doing so in order to shrink the overall size of their [...]
Higher rail fares increase debt management worries
Train passengers have seen fares rise by up to 11%, causing worries about their debt management to grow. A critical report by MPs has slammed the franchised rail system, which it labels “perverse”, and claims that consumers are taken for granted. The privately owned rail franchises have upped ticket prices by up to 11% on [...]
Rate increases add to debt management worries
Despite the fact that the Bank of England base rate of interest is at an all time low of 0.5%, some mortgage lenders have announced that they are to increase the cost of their fixed-rate mortgage deals. This news was not welcomed by debt management providers, who see this as yet another increased expense, that [...]
Debt advice providers welcome OFT bank charges stance
The OFT, the Office of Fair Trading, has announced that it will still pursue unfair overdraft charges, regardless of the outcome of an appeal that is currently being heard in the House of Lords. This news has been welcomed by debt advice providers, since many over-committed consumers are amongst those that may be in line [...]
Leading IVA provider thanked by OFT
A leading IVA provider has received thanks from the OFT for exposing three companies, that are now under investigation for ripping off consumers. The three organisations have been making false claims that they can buy off credit card debt and loan commitments, thereby relieving the consumer of any legal obligation to repay their creditors. Many [...]
