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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Category Archives: Blog – Expert Opinion
Highest fuel prices causing debt management problems
Fuel prices are the most expensive they have been for a year, causing debt management worries for many people. Following supermarkets raising their prices, the cost of petrol and diesel is now as high (if not higher) than oil giants such as Shell and Esso. For the first time in over a year the average [...]
Avoiding debt problems this Christmas
With Christmas approaching faster than a speeding train, almost five million people are still trying to get out of debts that they ran up last year. More worrying is the news that around three quarters of Brits are short of money to pay for this year’s festivities, so could be walking into a further £8billion [...]
Baywatch star reveals debt management problems
Baywatch babe Pamela Anderson has revealed on TV that she has recently experienced debt management issues. The American star confessed that she had failed to keep abreast of her financial affairs and had suffered in the recession as a result of a string of investments turning sour. Anderson, who is infamous for blowing thousands (on [...]
Loan sharks causing debt management problems for housing association tenants
Housing associations have reported that loan sharks are causing debt management problems for some of their poorest and most vulnerable tenants. Community Housing Cymru (CHC), which represents housing associations in Wales, is launching a specific campaign to raise awareness with their tenants and warn them about borrowing money from potentially violent and intimidating lenders. Loan [...]
Formula 1 Loses Toyota due to Financial Problems
It has been confirmed by Toyota that despite signing the concorde agreement to race earlier this year that they will not be racing in 2010. Toyota had delayed officially announcing one way or the other until last weeks board meeting at head office in Japan. The decision is due to the parent company posting its [...]
Should Debt Management be Taught in Schools?
Debt management has become a household concept in recent times, but some people are more concerned about when it stopped being something we think about. Wirral Citizens Advice Bureau hosted a debate on debt under the leadership of Esther McVey who is a prospective Conservative MP for Wirral West this week. The strongest point made [...]
Half-term debt management worries scupper spending
Spending on keeping children entertained during the half-term holidays looks set to drop this week, after a poll revealed that many families plan to spend less than last year amid wider debt management worries. The current economic recession has forced parents to tighten their purse strings and spend less on entertaining children during the half-term [...]
Postal strike causes debt management mayhem
The postal strikes look set to cause chaos for the debt management of millions of people, as payments towards store cards and credit card debts arrive late. Industrial action taken by workers at the post office means that for many people, repayments towards their consumer debts will arrive late and they will receive fines and [...]
Debt management prevents mental health problems
According to latest research, people who are struggling with their debts should consider debt advice to avoid mental health problems from developing. The study by the Royal College of Psychiatrists and Rethink, revealed that half of British adults struggling with debt problems are also potentially dealing with a mental health issue. Their findings suggest that [...]
Low interest rate helps 100,000 people's debt management a month
Around an extra 100,000 homeowners are benefitting from the lowest interest rates in history, as their mortgage debt management is eased following the end of a fixed-rate term. According to the Council of Mortgage Lenders (CML), 42% of existing mortgage-holders are still enjoying a fixed rate deal. For those whose introductory rate has come to [...]
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 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 [...]
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 [...]
Pensioners coping with debt management for kids
Handouts to children have meant that around 1.3 million pensioners are having to cope with debt management issues, as they are still paying off their mortgages and credit card debts. As increasing numbers of pensioners are forced to give handouts to their adult children, one in six pensioners still finds themselves trying to get out [...]