Debt management industry chiefs welcomed news that bank charges could be on the way down, at least for some of their clients. The RBS-NatWest banking group, now majority owned by the UK taxpayer, has announced that it plans to reduce overdraft charges. The decision comes ahead of a much awaited decision from the Supreme Court [...]
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Monthly Archives: September 2009
Death bed debt problems
There may be a few more people who leave behind a death bed full of debt problems, as the average cost of dying soars to over £7000. According to a recent survey, the cost of an average death has risen to £7,098 this year and is anticipated to rise again over the next five years [...]
Debt problems in North West and Midlands fuelling repossessions
People who live in the North West or the Midlands are more likely to have their homes repossessed due to mounting debt problems the government has suggested. As a result, the government is launching a new TV campaign recommending those that are struggling with their mortgage repayments to seek impartial debt advice. The hotspots that [...]
Debt management problems reducing congestion
Traffic on UK roads has dropped significantly due to the recession and the debt problems of motorists, according to latest research. The five year study by the AA, shows a fall in motorway and truck-road congestion by almost a third – the first drop in congestion for 20 years. According to their figures, there was [...]
Debt advice specialists swamped
According to figures released by the Bank of England, UK citizens owe around £233 billion on overdrafts, personal loans and credit card debt. Debt advice agencies are struggling to cope with the demand, for their services, from hard up consumers. Since the start of the credit crunch, and the recession that followed, many people have [...]
Friends and family providing debt help during recession
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 [...]
Cheaper mortgages could help debt management clients
News that cheaper mortgage deals are coming on to the market has been welcomed by debt management providers who believe that lower housing costs could help relive the pressure on hard up consumers. Since the onset of the recession, mortgages have been difficult to get, and few providers have been offering mega deals, since they [...]
More debt advice may be needed as Brits can't understand bills
The number of people in Britain who may need to seek debt advice could increase, following research that reveals their inability to understand household bills. According to a report by comparison website uSwitch.com, only one in seven people (14%) could successfully add up a bill from an energy company, despite being allowed the use of [...]
Debt advice working as borrowing levels fall
The bank of England has confirmed that the level of personal debt in Britain has fallen for the first time since 1993, when records began. The news has been welcomed by debt advice providers as proof that UK consumers are taking their personal debt more seriously and beginning to reign in their spending. The current [...]
Debt management help for pensioners
Data released by debt management specialists has revealed that increasing numbers of older UK citizens are finding it difficult to cope with the recession, and are unable to quit work since they have to maintain excessive debt repayment levels. According to recently released figures nearly 2 million people are planning on working beyond their retirement, [...]
Petrol duty increase stretches debt problems
Motorists who are experiencing debt problems could see their debt management issues made even worse after another rise in fuel duty. The 2p rise in the tax on petrol from today, is the third increase in nine months and puts household finances under further pressure. It’s feared that this could also spell the end for [...]