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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.
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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.
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24-12-2004: New
Year to Herald Record Bankruptcies
The combination of Christmas overspending and already excessive
borrowing is expected to result in as many as 5,000 bankruptcies by
the end of January 2005.
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11-03-2004: Debt
Consolidation: Who's to Blame?
The OFT has published the results of it’s eight month study into
debt consolidation loans, the loans taken out by people in a bid to
reduce their monthly payments by incorporating their debts into one place.
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01-03-2004: Interest
Rates or Taxes
Rising borrowing figures and house prices have put interest rates
back on the agenda. But if interest rates aren't the answer, what
else is there ... Tax.
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12-11-2003: Economic
Recovery or Bust
As the global economy gathers momentum the Bank of England has
another problem, the British consumer. To be accurate, the indebted
British consumer.
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10-11-2003: Water
Bills Set to Mount
Water bills could rise by 30% from 2005 as water companies increase
spending to meet continued regulatory requirements, and even bigger
increase could be on the way.
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07-11-2003: Personal
Bankruptcies Hit Decade High
Provisional figures released today reveal 9,094 people in England and
Wales were declared insolvent between July and September, the highest
quarterly count for more than a decade.
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06-11-2003: Warning
Shot Across the Bows
The first rise in Base Rates since 10th February 2000 is no more than
a warning shot across the bows of the British consumer and is a
signal that rates can rise and will rise if need be.
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01-11-2003: Plea
for Debt Advice Funding
Consumer minister Gerry Sutcliffe has asked lenders to put their
hands in their pockets so that more free debt advice can be offered.
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31-10-2003: House
Prices Jump ... and so do the Chances of a Rate Rise
House prices rose by 2% in October taking the year-on-year to 16.1%
and the average house price to £131,947, according to figures
released by the Nationwide Building Society.
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30-10-2003: More
Choice for Energy Debtors
Energy companies vote to allow many customers on prepayment meters
who are in debt to switch suppliers.
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29-10-2003: Mortgage
Borrowing Soars as Rate Rise Looms
As new mortgage lending hits a record £16.9bn, the Bank of
England looks set to increase interest rates for the first time in
nearly four years.
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21-05-2002: Record Debts
for Britain's Borrowholics
The addiction grows as cheap credit and eager-to-supply banks ensure
that borrowers can always get another fix.
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03-05-2002: Current
Account Apathy Costs Customers MIllions
25 million Britons could save about £500 million a year by
switching their current accounts from the Big Four banks to internet
and high street alternatives.
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28-05-2001: Pensions
Betrayal by Big Business
Hundreds of thousands of workers are on the verge of loosing many of
their pension benefits, before they are even retired.
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18-05-2001: Borrowers
still miss the main benefit of cheaper mortgages
With another cut in interest rates, borrowers are still missing the
main benefit of cheaper mortgages . . . they can be paid off sooner.
