Experts from the WEF, the World Economic Forum, have warned that the threat of cybercrime is on the rise. This news has caused concern to debt management and IVA providers amid worries that over indebted consumers could be particularly vulnerable to criminals that specialise in this area. A typical debt management client will have several [...]
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Monthly Archives: June 2009
Debt advice cuts repossession risk
The CML, Council of Mortgage Lenders, has reduced its estimate for the number of repossessions expected to take place this year. The good news coincided with the extension of a scheme which offers free debt advice on repossessions. The provision of last-minute debt advice has allowed many consumers to keep their homes, and negotiate new [...]
"Generous" Goodwin returns £4.7m but doesn't shred debt problems
Despite handing back £4.7m of the controversial £8.3m pension top up from his pension, Former Royal Bank of Scotland (RBS) leader, Fred Goodwin has still left many with serious debt problems. Following a deal with RBS, the ex-chief executive has agreed to hand back more than £200,000 a year from his controversial pension, as his [...]
IVA and debt management providers concerned as UK industrial action increases
Around 900 Total workers, which were in the process of building a new plant at the Lindsey oil refinery, have been sacked. The company has taken this drastic measure following unofficial strike action, by the workers. It is yet another example of increasing industrial action in the UK, and it has caused concern amongst IVA [...]
Less mortgages granted as more seek debt advice
The latest figures released by the CML, Council for Mortgage Lenders, confirm that mortgage lending was down again last month. With many consumers struggling to cope with their finances during the recession, priorities have switched. More people are contacting specialists for debt advice in order to deal with their money worries, and they are a [...]
Reckless lending as incomes go unchecked
High street lenders are issuing credit cards without sufficient credit checks, according to comparison website uSwitch. Their survey found that in the past 12 months 84 per cent of successful credit card applicants – 4.8 million – were not asked for basic proof of income, such as a wage slip, to support the figures stated [...]
WAG lifestyle causing debt problems in young adults
Latest figures suggest that the attempts of young women to live a celebrity lifestyle may be to blame for the rise in debt problems and subsequent bankruptcies in this age group. The lifestyles reported on in glossy magazines (like Hello, Now and Heat) along with historic access to easy credit have proved irresistible to many [...]
From dole queue 2 free debt advice
The situation is looking very gloomy for the unemployed in the UK. There are many thousands of people that are unable to find work, and at the same time are struggling to keep their bills up to date. Over the last few months, free debt advice specialists have seen an increase in the number of [...]
Debt management needed for record unemployed
Official figures released today show that unemployment in the UK is the highest it has been for 12 years, which suggests that more people could be at financial risk if they don’t practice sound debt management skills. The figures from the Office for National Statistics showed that UK unemployment rose to a 12-year high of [...]
IVA advice required as cost of borrowing increases
News that more of the biggest players in the mortgage market have increased the cost of home loans has caused concern amongst financial advice specialists. Many consumers are struggling under the weight of their current financial commitments, and for some, higher mortgage payments could end up being the final straw. IVA advice providers have seen [...]
Free debt advice for the over 50’s
There has been a sharp increase in the number of over 50’s seeking help in solving their money worries. Organisations that provide free debt advice have been inundated with requests for help, and assistance, from the senior citizens; people that were previously financially stable, but are now struggling to make ends meet. In the majority [...]
Public sector workers could soon need debt advice
The CIPD, the Chartered Institute of Personnel and Development, has stated that around 350,000 public sector workers could lose their jobs over the next 5 years, as debt advice specialists have warned that this could spell financial disaster for many. The damage, caused by the recession, in the private sector, has impacted on tax revenues [...]
Debt Management Office to sell £5 billion in bonds
The UK government is planning to sell up to £5 billion of bonds, according to the Debt Management Office. The sale will take place via the banks this week, as government borrowing spirals out of control, in order to fund the economic stimulus plan. Since the onset of the current financial meltdown, the government has [...]
Could IVA advice solve my credit card debt problems?
It’s an interesting question, and one that will be asked by many people over the coming months. If you have over-used the plastic, and you would like to know if an IVA is the best solution to deal with your debt problems, then there are certain things that you need to consider. Credit card debt [...]
Could IVA advice solve my credit card debt problems?
It’s an interesting question, and one that will be asked by many people over the coming months. If you have over-used the plastic, and you would like to know if an IVA is the best solution to deal with your debt problems, then there are certain things that you need to consider. Credit card debt [...]