Each and every family in Britain will have to pay £2,400 to help cut the debt problems caused by the nation’s huge deficit. This figure highlights the true extent of the financial pain that families across the land will have to face, according to the Institute of Fiscal Studies (IFS). The think-tank predicts that even [...]
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Monthly Archives: December 2009
Three in four parents risk developing debt problems this Christmas
Three quarters of families are at risk of developing debt management problems as research shows they are set to spend more money than they can afford on keeping children entertained over Christmas. The additional cost of keeping children entertained over the festive season means that more than three in four parents (77 per cent) admit [...]
Consumers continue to ease debt management problems
Consumers have continued to repay their debts at a record level throughout October, as they continued to focus on paying down existing debts rather than taking out additional loans. During October, people managed to repay their unsecured balances – such as overdrafts, personal loans and credit card debts – by £579m, the largest contraction since [...]
Debt Management worries ease as consumer borrowing falls
Debt Management providers have welcomed the news that consumer borrowing has recorded its biggest fall since Bank of England records began some 16 years ago. There has been a large increase in the number of people struggling with debt problems, and having to seek financial advice to improve their situation. Consumers have been turning to [...]