Debtors are getting wealthier
An increasing number of wealthier homeowners are seeking debt help as the rise in unemployment and falling property prices puts pressure on household budgets, the Consumer Credit Counselling Service said.…
Tag: debt
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Call for cut in public spending
The Policy Exchange warns the next government that it must be prepared to make âradical and immediate cutsâ to spending, or face a debt crisis. It said that the next…
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Lenders should be named and shamed
Which? magazine has called for the Financial Services Authority to ‘name and shame’ lenders charging customers with exorbitant mortgage arrears charges. Which? wants the list submitted to judges hearing repossession…
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A bad time to save?
Meanwhile, consumers are saving less and paying off debts faster, according to research from Nationwide. Less than half of consumers save money regularly, with 25 per cent saving nothing at…
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Lenders accused of taking payments by stealth
Banks have been accused of leaving mortgage holders unable to pay their mortgages, as they take money out customers’ current accounts to cover credit card and loan payments. Citizens Advice…
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Mentally ill âexploitedâ by lenders
Mental health charities warn that banks provide little support for customers with mental health issues, and in some cases exacerbate their conditions by treating debtors insensitively and selling them unsuitable…
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RBS offers free financial advice
The Royal Bank of Scotland is offering the public free financial advice from every branch from tomorrow. Around 1,000 customer service staff at the bank have been trained by the…
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Action to head off credit crunch stress
A package of measures to help unemployed people who are experiencing depression or anxiety to get back to work were announced on the weekend by health secretary Alan Johnson and…
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Bailiffs to be allowed âreasonable forceâ
The government is proposing wide-ranging new powers to allow bailiffs to break into peopleâs homes and use âreasonable forceâ against householders who try to protect their valuables. The government wants…
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Bail-out banks add £1.5 trillion to debt
The Royal Bank of Scotland and Lloyds TSB, the two banks bailed out by the government, will add between £1 trillion and £1.5 trillion to the public debt – the…