Experts predict that unemployment could rise to almost 4m which would cause further debt management issues and have devastating effects on the debt problems of those affected. The Centre for Economics and Business Research (CEBR) think-tank suggests that the unemployment rate could rise to around 3.8 million, from the current level of 2.4 million, with [...]
July, 2009
Retail debt problems as 12,000 stores close
So far this year around 12,000 independent shops and almost 7,000 major chain branches have closed across Wales and England as debt problems impact the high street. Research by the Local Data Company (LDC) found that the average retail vacancy has risen by almost 8% since last year – from 4% to 12% now. Worst [...]
Credit card debts grow as shoppers trapped
Shoppers spending on their plastic are being trapped by the companies that take money from their cards each month, adding to the overall credit card debt owed. The problem starts when companies set up ongoing payments that allow them to dictate the ongoing payments taken from the card, but which aren’t stopped when the customer [...]
Driver’s debt problems force premiums up
The cost of running a vehicle looks set to increase after the debt problems of many drivers has forced them to hold back on renewing their policies – pushing the cost up for everyone else. The recession has forced many debt problems over the edge, and as a result more drivers are failing to renew [...]
Britons with severe debt problems owe over £60,000
A tenth of Britons with severe debt problems owe more than £60,000, excluding mortgage payments, according to latest research. One in ten people facing bankruptcy, were found to have debts over £60,000, showing the full extent of the debt management crisis faced by many financially overstretched households. The report on the Telegraph website also outlined [...]
Debt problems rise most for over-45s
Falling property prices and multiple marriages have been cited as reasons why the over-45′s are suffering the most with debt problems. The number of individuals suffering with debt management issues and going bankrupt in the over-45 age range rose by 124% between 2004 and 2008, according to latest research. The report by accountancy firm Wilkins [...]
Motorists urged to shop around and beat 7.9 per cent hike in premiums
Motorists are being urged to shop around for their insurance after research revealed that car insurance premiums have jumped by 7.9 per cent over the last year. Car insurance research provider, Experian, says the average quote for comprehensive motor insurance in the direct market reached its highest point for almost two years in May 2007, [...]
Pensioners in Britain most likely to have debt management issues
Britain’s over 65′s are amongst the poorest in Europe, and as a result could be most likely to suffer from debt management issues and subsequent poverty. Our pensioners are worse off than their counterparts in countries such as Poland, Romania and France, according to figures published by the European Commission. The study, analysing relative poverty [...]
Doorstep lenders creating debt management issues
Calls to regulate the practices of doorstep lenders have been made after research by charity Barnardo’s found that vulnerable families suffered from ongoing debt management issues after being targeted. They call for stricter regulations to curb “extortionate” interest rates and prevent vulnerable families from being targeted by companies. Following its report Counting on Credit, the [...]
Credit card debts to grow warns IMF
Credit card debt in Britain will continue to worsen, with a wave of payment defaults from customers, according to a report by the International Monetary Fund (IMF). The IMF predicts Britain, which has the highest number of credit card borrowers in Europe, would suffer from much of the £1.5bn of consumer debt that it predicts [...]
