Whilst it’s always good to live sensibly and not throw your money away needlessly, some people have taken money saving to extremes and turned it into a way of life. But how far should you go with your penny-pinching ways? And isn’t excessively worrying about money bad for you in terms of quality of life [...]
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Category Archives: Debt Management News
Old fashioned money saving tips
These days, money works very differently to how it used to. In the past, people were far more likely to live within their means. But now, the pressures of modern day living have meant that the majority of people end up in some sort of debt and will continue to borrow in order to fund [...]
Recognising that you’ve got a debt problem
The most common characteristic seen in people with debt management problems is denial, where they refuse to face up to the fact that spending is exceeding income and that money is owed to numerous creditors. Put simply, if you can’t afford to pay even the minimum amount you owe, it’s likely that you’ve got a [...]
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 [...]
Debt management and IVA providers worry as jobless on increase
Unemployment in the UK will continue to rise, Alistair Darling warned yesterday. In a break from normal procedures, where chancellors resist the temptation to predict future jobless figures, the Mr Darling told MPs that “unfortunately it will continue to rise for a while“. The announcement has caused concern amongst IVA and Debt Management providers that [...]
Share prices fall due to Dubai debt problems
Debt problems are nothing new to us in these times, however, there are new concerns in the stock markets across Europe courtesy of Dubai. Dubai is a country associated with extreme wealth due to oil and hyper-tourism, but in recent times, many of the luxurious properties built by state-owned companies such as Dubai World have [...]
Debt management misery as banks win at Supreme Court
The ongoing saga of reclaiming bank charges, levied on unauthorised overdrafts for poor debt management, has been dealt a cruel blow today in the Supreme Court. Earlier rulings in favour of the Office of Fair Trading’s investigation into the unfairness of unauthorised overdraft fees, have been overturned by a Supreme Court judgement. The case at [...]
Debt advice needed for lower earners
The government should provide more debt advice for lower earners according to a report from a leading charity. The study, by the Institute of Employment Rights (IER), suggests that people on low wages are currently suffering financially because of the way the complex tax system operates and that they are also suffering most from the [...]
2,000 More Jobs to go at Threshers
381 local off-licences operated by Threshers Group will be closed it has been announced. Threshers is owned by First Quench which went into administration on the 29th October this year because of the combination of reduced sales through the credit crunch, but primarily the affect of supermarket giants like ASDA, TESCO and Sainsburys pricing them [...]
Hard-up hardman needs debt advice
Ex footballing hardman, Vinnie Jones alledgedly is in need of some sound debt advice, after it was revealed that his company – Vinnie Jones Enterprises Limited – has been put into liquidation, as a result of unpaid taxes totalling £128,321 going back to 2006. A team of chartered accountants have been appointed to handle the [...]
More debt advice needed as repossessions rise by 3%
Debt advice was desperately needed during the third quarter of 2009 as the number of repossessions rose compared to last year, according to figures released by the Council of Mortgage Lenders (CML). During the three months from July to Septemeber, the number of homes repossessed increased by 3% on last year’s figures during the same [...]
Debt management worries drive down car usage
Drivers worried about their debt management issues are actively seeking ways to drive more efficiently and lower motoring costs a study has announced today. According to figures released by the RAC, motorists are cutting back on their driving costs by using their vehicles less, opting for smaller cars and running just one car per family. [...]
Even super-rich suffering with debt management issues
An incredible image of a pawnbroker wearing six Rolex watches, in front of sports cars and an aeroplane pawned by businessmen with debt management problems has stunned many Daily Mail readers. The photo on the newspaper’s website, features two Ferraris, a Porsche and a French two-seater Cap 10 stunt plane which illustrates how widespread the [...]