Friends and family are offering debt help to people struggling with their debt problems during the recession, research has shown. Findings by Future Foundation, found that families and friends are assisting people through the recession and helping them to overcome their debt management issues. They identified a “financial family” – a collaborative unit of friends [...]
Blog – Money Mole
John Lewis offers debt help
Retailer John Lewis is apparently trying to prevent people from developing debt problems by reprinting a thrift and debt help guide from yesteryear. Dozens of useful tips and debt advice have been compiled by staff at department store John Lewis into a booklet called “Make Do And Mend”. This was the title used by the [...]
Debt problems to grow as jobless households hit 12 year high
The debt problems of millions of households look set to continue, as figures released today show the number of jobless households has leapt to almost half a million – the highest level since 1997. According to figures released today by the Office for National Satistics (ONS), the number of households with at least one person [...]
Brits delay divorces over debt management worries
More people are putting off getting a divorce because of the financial and debt management implications of the recession, according to recent research. According to a survey of divorce lawyers by advice website unbiased.co.uk, there has been a decline in divorce agreements during the recession, due to the economic climate. Their study found that half [...]
Lender’s “magic” trick causes debt management worries
You wouldn’t think that banks and other lenders could be magicians, but they are increasingly causing debt management worries by one of their nasty “magic” tricks. It doesn’t involve a rabbit and a hat, or a scantilly clad Debbie McGee-type assistant being chopped in half, but rather more a worrying financial trick of turning an [...]
“Debt problems, for the Arsenal”
As the Premiership football season kick-started this weekend, many supporters around the country risk developing debt problems to support their multi-million pound footballing icons. According to research, around one in five football fans has been forced into debt to cover the cost of following their team. With the cost of following your football team rising [...]
Recession could push debt problems and unemployment figures further up
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 [...]
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 [...]
UK’s debt problems hit record high
The debt problems of the UK have soared to their highest ever level, increasing the total outstanding UK government debt to £799bn. The UK government debt has never been this high since records began in 1974, and the recent rise takes the total amount outstanding to an equivalent of 56.6% of UK Gross Domestic Product [...]
Pubs failing to deal with debt management
The UK is losing around fifty pubs a week, as many fail to deal with their debt management and fall prey to administrators. The British Beer and Pub Association said that a third more pubs had closed in the first half of 2009 than during the same period in 2008. Pubs most vulnerable of closure [...]
