According to new research by accountancy firm PwC, the average UK household will need to come up with an extra £1,800 per year by the year 2015 in order to pay the interest on their unsecured debts. PwC came up with this figure after analysing the speed at which interest rates on loan and credit [...]
January, 2011
British Bollywood actresses Katrina Kaif and Priyanka Chopra raided over tax debt
According to reports, the Mumbai offices and homes of two leading Bollywood actresses have been raided by revenue officials over tax debt allegations. The actresses in question are Katrina Kaif and Priyanka Chopra, both of whom are extremely well-known within the Bollywood film industry. Kaif, 26, is a British Indian actress and la Senza model, [...]
Shelter survey finds householders are using credit cards to pay off mortgages
According to a recent poll conducted by YouGov on behalf of the homeless charity Shelter, more than two million British people used their credit cards to pay either their rent or mortgage payments last year. A total of 2,234 people were surveyed by YouGov in August 2010, each being asked whether they had borrowed on [...]
OAPs bankruptcy levels see six-fold increase
The Insolvency Service has reported that the number of people aged 65 or over who now face bankruptcy has increased by six times the amount in the last ten years. Research conducted by the Insolvency Service – which is a part of the Department for Business, Innovation and Skills (DBIS) – revealed a six-fold increase [...]
Premiership footballer Jason Euell files for bankruptcy
The captain of Premiership football team Blackpool FC, Jason Euell, has reportedly filed for bankruptcy. The Jamaican-British striker has claimed that his debt management problems stem from a failed property venture. Euell, 33, presented his own petition for bankruptcy at Kingston-upon-Thames County Court. In a statement released to the press, the Premier League player claimed [...]
Mental health charity claims debt leads to depression for many consumers
The mental health charity “Mind” has claimed that there is a definite link between depression and debt problems in a number of people who come to it for help and advice. This conclusion was supported by data from one of the charity’s help centres in Plymouth. The director of Mind, Richard Wakerell, spoke to BBC [...]
National debt levels reach £40,000 a household
According to official statistics, Britain’s national debt level hit the trillion pound mark this week, equating to a staggering £40,000 worth of debt per household (if it were divided up this way). The government’s ‘debt clock’ – which runs on official figures – calculated that Britain reached the £1,000,000,000,000 debt figure at 5pm on Monday [...]
“Mortgages” and “loans” amongst most common search terms last year
According to the latest research from search marketing specialist Greenlight, the terms “mortgages” and “loans” were amongst the most searched for online at the end of last year. The Greenlight analysis revealed that October 2010, these two terms made up 61 per cent of all searches for retail banking related services. “Loans” was the most [...]
Household Finance Index drops to 20-month low
In a somewhat bleak outlook for British households, the Household Finance Index dropped to its lowest level for 20 months in January, meaning that households are the most pessimistic about their finances than they have been for nearly two years. Carried out every month and using responses from 2,000 people, the Household Finance Index (HFI) is [...]
Channel Island residents’ plan to take out home improvement loans rather than move in 2011
Recent research from Close Finance has revealed that homeowners in the Channel Islands of Jersey and Guernsey are planning to take out personal loans for home improvement rather than move house in 2011. A total of 35 per cent of those surveyed said that they were planning to take out a personal loan in order [...]
