As people struggle to deal with their debt problems the country is set for higher levels of crime, as people look for drastic ways to get out of debt. In the past 12 months police in England and Wales were called to deal with a four per cent increase in burglary (compared to the year [...]
Debt Management Plans | IVAs | Debt Help
Monthly Archives: May 2009
Repossession increases need for debt management
New figures released from the Council of Mortgage Lenders (CML) show that the number of consumers that are falling into financial difficulty, as a result of falling into arrears with their mortgage repayments, is on the increase. This has led to a sharp increase in the number of homeowners that are seeking help from debt [...]
Middle-class seek IVA advice
The number of UK residents, from traditionally affluent areas, that are now suffering with out of control debt problems, has more than doubled since November 2008. With some people having run up debts of more than £100,000, it is hardly surprising that there has been a huge increase in the number of middle-class people seeking [...]
Free debt advice
Since the onset of the global financial meltdown, there has been a noticeable increase in the number of UK residents seeking free debt advice from specialist providers. Since the middle of last year, the effects of the credit crunch have taken hold, with rising unemployment and falling house prices all adding to the misery. Growing [...]
Jordan and Peter needing debt advice? Unlikely
Celebrity couple Katie Price (aka Jordan) and Peter Andre are to go their separate ways according to their management company, but unlike many relationship break-ups it’s unlikely that this pair need to seek debt advice. Debt help organisations often report that some of the most frequently stated reasons for people struggling with their unsecured balances [...]
Jobless seeking Debt Management
The number of jobless people seeking debt advice, in the wake of the current recession, is increasing. Since the onset of the credit crunch, unemployment has rocketed, leaving many over indebted consumers struggling to make repayments on personal loans, credit card debt, mortgage payments and everything else. According to top debt help specialists, the number [...]
Men worrying about recession and debt problems
Men are failing to cope with worries about the recession and debt problems according to the mental health charity, Mind. The survey showed that almost 40 per cent of men admit to feeling low because of pressure from work, regarding job security and money troubles, playing on their minds. Their results also suggested that women [...]
Students seeking debt advice
Debt management companies have seen an increase in the number of students contacting them for debt advice. It would seem that the majority of the problems are being caused by unmanageable levels of credit card debt, which could have dire consequences for the financial future of some of our brightest hopes. Nowadays, university students are [...]
Credit card debt claims frozen by Judge
A County Court Judge has frozen over 100,000 claims by indebted consumers who are trying to have their loans and credit card debts written-off. He ruled that borrowers who were overwhelmed with debts are unlikely to be able to write-off credit agreements due to unenforceability. The loophole in the law, which could make credit agreements [...]
RBS pay for credit card debt
The RBS, Royal Bank of Scotland, has announced that is has made a pre-tax loss of £44 million for the first quarter of 2009. This compared badly with the same quarter in 2008 when the bank made a profit of just under £480 million. The losses have been attributed to loans, that have gone bad, [...]
Debt advice not reaching the countryside
The CRC, Commission for Rural Communities, has warned the government that people living in rural areas are not getting crucial debt advice, which could help them through the current economic slump. Ministers were also told that these geographical areas are amongst some of the poorest parts of the UK, where the need for assistance could [...]
Profits up despite debt problems
Despite the ongoing economic crisis, Barclays have announced an increase in profits for the first quarter of 2009. The bank stated that it had made a profit, before tax, of £1.37 billion, which is 15% higher than for the same period last year. The total income for the Barclays group, for the period January through [...]
Gas cuts ease debt problems
British Gas today announced that it has cut electricity prices by 10%, with immediate effect, which will bring slight relief to many already suffering with debt problems. The cut will save an average of £43 a year for the 4.5 million electricity customers, and comes after a similar cut was introduced in February this year [...]
Debt consolidation loans & mortgage terms relaxed
Figures from Moneyfacts, a financial information provider, indicate that lenders are beginning to relax their requirements for granting mortgages and debt consolidation loans. Since the onset of the credit crunch, lenders have been reluctant to lend money, secured on a property, unless the client could come up with a minimum deposit of 25%. Now, according [...]
Worst recession for 75 years
The NIESR (National Institute of Economic and Social Research) has predicted that the current UK recession could be the worst since 1931. The leading economic research body has estimated that GDP could contract by as much as 4.3% in 2009, and by 2010 should start to show signs of some growth, which they have estimated [...]