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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.
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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.
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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.
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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.
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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.
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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.
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10-01-2005: Zero
Rate Balance Transfers: R.I.P.
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".
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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.
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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.
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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.
