2005
04-11-2005: Bad News for Bad Faith Bankrupts
Official Receivers target "Bad Faith Bankrupts" with Bankruptcy Restrictions Orders, enabling them to impose bankruptcy restrictions for up to 15 years.
27-10-2005: Home Repossession Orders Soar 66 Percent
Mortgage repossession orders issued in the three months ending September surge to 19,687, levels not seen since the third quarter of 1993 and the dark days of the property recession.
30-09-2005: Flexi-rate credit card rewards faster repayment with lower interest rate
Barclaycard’s new Repayment Rewards credit card designed to offer a flexible interest rate which reduces the more you pay off your balance each month. Rewarding those who pay off more of their credit card balances and helping them get clear of their credit card balance.
04-08-2005: Bank of England Cuts Rates: When Will It Cut Again?
At midday the Bank of England cut the base rate by 25 basis points to 4.50 percent from 4.75 percent, the rate it has stood at since August 2004. However, the cut is not expected to be the first of many as in a series of aggressive cuts as concern now focuses on when rates will be cut again.
18-01-2005: Tougher Bankruptcy Restrictions for Middlesbrough Man’s Credit Card Spending Spree
A Middlesbrough man has become the first person in the North East region to be subjected to tougher bankruptcy restrictions as he was found guilty of "unreasonable extravagance", the Insolvency Service reported.
14-01-2005: Record Numbers Seeking Help With Debts
The number of people seeking advice for debt problems is at all-time highs as the debt advice sector reports a surge in the number of people seeking help. At the not-for-profit Debt Advice Bureau, people wanting to set up arrangements have more than doubled, with applications up 168% in December.
12-01-2005: More Borrowers Plan to Reduce Their Debts
Nearly half (49%) of people with debts say they plan to cut their borrowing over the next six months, three times the level of six months ago, according to the Nationwide building society’s latest Consumer Confidence Report.
10-01-2005: Zero Rate Balance Transfers: Rest In Peace
It could be the end of 0% balance transfer deals on credit cards as card issuers are forced to introduce charges in order to stem the losses caused by "rate tarts".
07-01-2005: Bonus Cuts Expected for With Profits Policies
Owners of with-profits endowment policies, taken out to pay off their mortgage, could be hit most, the Faculty and Institute of Actuaries warns, as annual bonuses paid on with-profits policies are expected to be cut.
05-01-2005: Don't be Conned: OFT Warns of Loan Fee Scam
The OFT is warning consumers about a Canadian loan scam that charges large up front insurance fees for loans that never appear.
04-01-2005: New Mortgages Lowest Since September 1995
The number of mortgages approved across the UK has fallen sharply according to figures released by the Bank of England today. New mortgages approved fell to just 77,000 in November, the lowest level for more than 9 years.