The August inflation report from the Bank of England has suggested interest rates will need to rise again The August inflation report from the Bank of England has suggested interest rates will need to rise again to keep the target of 2 per cent inflation on track. The report also says consumer spending has remained [...]
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Monthly Archives: August 2007
Millions using credit to gamble out of debt
Millions of gamblers are funding their habit by borrowing on their credit cards. Millions of gamblers are funding their habit by borrowing on their credit cards, personal loans or overdrafts according to the latest research from MoneyExpert.com. The findings showed that 14 per cent of the nation’s monthly gambling is paid for by money borrowed [...]
Britain’s overindebted in denial
Nearly four million Britons are officially overindebted Nearly four million Britons are officially overindebted (2) but two-thirds of them are in denial according to research from leading debt management specialist Chiltern. Its research revealed that one in 16 people in the UK spends more than 25 per cent of their wages paying off unsecured debts [...]
Home repossessions and insolvencies increasing
The number of people having their properties repossessed has jumped by 30 % at the same time as the number of insolvencies has increased according to official figures released today. The Insolvency Service revealed there were 26,956 individual insolvencies in England and Wales in the second quarter of 2007, a rise of 4.2 per cent [...]