Posted by: Francesca Toma, 21 May, 2013
Consumers are often confused by supermarket deals and special offers as price labels are misleading, inconsistent and unclear, according to the government.
Posted by: Edward Ware, 17 May, 2013
StepChange Debt Charity is raising concerns over the numbers of people struggling with debt problems who may also be suffering with associated mental health problems.
Posted by: Edward Ware, 10 May, 2013
New figures from the Council of Mortgage Lenders show little movement in house repossession mortgage arrears.
Posted by: Francesca Toma, 9 May, 2013
StepChange Debt Charity believes a growing number of older people are experiencing a debt crisis. It has seen a dramatic rise in people aged 60 and over seeking its help with their debt problems.
Posted by: Edward Ware, 8 May, 2013
New figures show the number of people seeking the StepChange Debt Charity's help with payday loan debts has doubled
Posted by: Francesca Toma, 7 May, 2013
Five million households are struggling to pay for their monthly food shop and are turning to credit or their savings to make ends meet, according to new research from Which?
Posted by: Edward Ware, 3 May, 2013
Figures released today by the Insolvency Service show that personal insolvencies have fallen to a five-year low.
Posted by: Francesca Toma, 2 May, 2013
More than a million people with interest-only mortgages do not have sufficient savings to pay the final amount when the time comes, research from the Financial Conduct Authority (FCA) suggests.
Posted by: Edward Ware, 1 May, 2013
Self-employed people are racking up alarming levels of problem debt according to new findings from StepChange Debt Charity.
Posted by: Francesca Toma, 29 April, 2013
Benefit claimants living in Ashton-under-Lyne in Greater Manchester will now receive Universal Credit, which merges several benefits and tax credits into one monthly pay-out.
Posted by: Francesca Toma, 26 April, 2013
Credit reference agency Experian has suggested that one in five British people have missed a loan repayment on purpose because they couldn’t afford to pay the minimum amount.
Posted by: Francesca Toma, 25 April, 2013
The Office of Fair Trading has closed down two payday loan lenders, Loansdirect2u.com and B2B International UK, due to aggressive practices as well as being owned by a former offender.
Posted by: Edward Ware, 25 April, 2013
The squeeze on household budgets is reaching crisis levels according to new findings from StepChange Debt Charity.
Posted by: Francesca Toma, 24 April, 2013
Almost 350,000 people across the UK have received at least three days’ worth of emergency food aid in the last 12 months, according to food crisis charity Trussell Trust.
Posted by: Francesca Toma, 23 April, 2013
High street banks have been accused of rejecting legitimate PPI (payment protection insurance) claims and slowing down the process in the hope that customers will give up their request for a refund.
Posted by: Edward Ware, 23 April, 2013
The housing charity Shelter has seen a 40 percent increase in the numbers of people calling its helpline with problems related to housing costs in the last year.
Posted by: Edward Ware, 22 April, 2013
The squeeze on household finances has intensified for the first time in 2013 according to the latest Markit Household Finance Index.
Posted by: Francesca Toma, 22 April, 2013
Consumer rights charity Which? has warned that proposals to simplify energy tariffs could see 3.4 million households paying too much for their electricity and gas.
Posted by: Francesca Toma, 19 April, 2013
Two in five adults over the age of 45 believe their only option is to sell their home to pay for care costs in retirement.
Posted by: Edward Ware, 18 April, 2013
The Office of Fair Trading (OFT) has today launched a study into the “quick house sale market”.
Posted by: Francesca Toma, 17 April, 2013
StepChange Debt Charity fears that the latest rise in unemployment will exacerbate debt problems for financially vulnerable households.
Posted by: Edward Ware, 16 April, 2013
The Scottish Government is considering measures that would prevent people being evicted as a result of the so called ‘bedroom tax’.
Posted by: Francesca Toma, 16 April, 2013
More than 170,000 Scottish households are unable to pay their energy bills.
Posted by: Edward Ware, 15 April, 2013
Payment Protection Insurance (PPI) remains the most complained about financial product, according to figures released today.
Posted by: Francesca Toma, 15 April, 2013
One of the Government’s key benefit changes begins in four London boroughs today.
Posted by: Francesca Toma, 12 April, 2013
New research from StepChange Debt Charity reveals that young people are borrowing less from the Bank of Mum and Dad than previously thought.
Posted by: Edward Ware, 12 April, 2013
New research has found that recent and upcoming benefit changes will take up to £19bn from the economy each year.
Posted by: Francesca Toma, 11 April, 2013
One in three workers could not pay their mortgage or rent for more than one month if they lost their job.
Posted by: Edward Ware, 10 April, 2013
Edinburgh Council is set adopt a ‘no eviction’ policy for those people who fall into rent arrears as a result of the so called “bedroom tax”.
Posted by: Francesca Toma, 10 April, 2013
StepChange Debt Charity has raised concerns that high street banks are automatically increasing credit card limits.
Posted by: Edward Ware, 9 April, 2013
One in five households in the UK is currently struggling with energy bill debts.
Posted by: Edward Ware, 5 April, 2013
The number of tenants with severe rent arrears has risen by 4000 in the first three months of 2013, according to new figures from LSL Property Services.
Posted by: Edward Ware, 4 April, 2013
StepChange Debt Charity has called on banks to ensure that any increases in lending on credit cards and loans does not come at the expense of financially vulnerable consumers.
Posted by: Edward Ware, 2 April, 2013
StepChange Debt Charity has raised concerns that the recent changes to Council Tax benefit risk pushing “a number of households into further financial difficulty.”
Posted by: Edward Ware, 28 March, 2013
New findings from the housing charity Shelter have found that four in ten families are cutting back on what they spend on food in order to pay their housing costs.
Posted by: Jessica Miller, 27 March, 2013
The rise in personal insolvencies has been faster in Scotland than anywhere else in the UK, Experian has announced.
Posted by: Edward Ware, 26 March, 2013
A quarter of households are being incorrectly billed for their gas and electricity, according to new research from uSwitch.
Posted by: Edward Ware, 21 March, 2013
StepChange Debt Charity has come out against an announcement contained in the Budget that HM Revenue and Customs (HMRC) will increase its use of charging orders
Posted by: Edward Ware, 20 March, 2013
Payday loan company MCO Capital Limited has been shut down by the Office of Fair Trading (OFT).
Posted by: Edward Ware, 19 March, 2013
Which? has called for tighter restrictions on spam texts and calls.
Posted by: Edward Ware, 11 March, 2013
Nine out of 10 families will be worse off under upcoming benefit changes.
Posted by: Edward Ware, 8 March, 2013
John Taylor-Groom, managing director of Debt Help Direct, was reportedly arrested yesterday, with his company subsequently going into liquidation.
Posted by: Edward Ware, 8 March, 2013
Britain’s baby boomers say that they their biggest financial regrets were failing to start saving for a pension earlier and running up credit card debts.
Posted by: Edward Ware, 7 March, 2013
The Office of Fair Trading (OFT) has issued a stark warning to some of the country’s biggest payday loans companies.
Posted by: Jessica Miller, 4 March, 2013
One in six grandparents are helping their grandchildren battle debt problems by giving them cash hand-outs, new research has shown.
Posted by: Edward Ware, 27 February, 2013
The numbers of people seeking help from the charity National Debtline with payday loans has risen by significanlty.
Posted by: Edward Ware, 26 February, 2013
Unemployment is a greater cause of debt problems for young people than for any other age group.
Posted by: Edward Ware, 21 February, 2013
Many retirees are missing out on claiming pension credit and council tax benefit and are being urged to undergo a full benefits check.
Posted by: Edward Ware, 20 February, 2013
A new report from HSBC has found that Brits are the worst in the world at saving for their retirement.
Posted by: Edward Ware, 19 February, 2013
The head of the energy regulator Ofgem has warned that households could face rising bills as supplies tighten and global demand increases.
Posted by: Jessica Miller, 14 February, 2013
The average UK worker is earning no more now than they were in 2003, according to the Office for National Statistics.
Posted by: Edward Ware, 12 February, 2013
The cost of living is rising at a slower rate for the over-55s than for the average UK resident.
Posted by: Edward Ware, 11 February, 2013
One in four are kept awake by debt problems and money worries, while over a third of people don’t know where to turn for debt advice, according to a new report from Circle Housing Group.
Posted by: Edward Ware, 8 February, 2013
The number of people seeking debt advice for payday loan debts in Scotland is rising dramatically, according to new figures released by StepChange Debt Charity.
Posted by: Jessica Miller, 7 February, 2013
Debt management is to be taught in English schools for the first time, it was announced today.
Posted by: Edward Ware, 7 February, 2013
New figures released by the Office for National Statistics (ONS) show a dramatic rise in the number of people who have become self-employed since the beginning of the economic crisis.
Posted by: Edward Ware, 6 February, 2013
The number of people making claims for mis-sold payment protection insurance (PPI) from failed firms rose by 70 percent in 2012.
Posted by: Edward Ware, 5 February, 2013
The average household water bill is set to rise by 3.5 percent, according to the regulator Ofwat.
Posted by: Edward Ware, 4 February, 2013
Buy-to-let investors are expecting to add to their portfolios this year, according to a forecast from rightmove.co.uk.
Posted by: Edward Ware, 1 February, 2013
The number of people going insolvent in the UK has fallen to its lowest level since the financial crisis began, according to the latest statistics released by the Insolvency Service.
Posted by: Jessica Miller, 30 January, 2013
Complaints over mis-sold Payment Protection Insurance (PPI) hit a record breaking 11,000 a week between October and December, the Financial Ombudsman Service (FOS) has said.
Posted by: Edward Ware, 30 January, 2013
Shop workers’ charity the Retail Trust says it is preparing for a huge surge in calls from retail staff concerned about debt problems.
Posted by: Edward Ware, 29 January, 2013
More Britons consider their debt to be a burden, according to a new report from the Office for National Statistics.
Posted by: Edward Ware, 25 January, 2013
The Ministry of Justice has announced new proposals to control aggressive bailiff conduct.
Posted by: Jessica Miller, 25 January, 2013
Parts of the UK could be denied free debt advice if planned cuts go ahead, warns the Money Advice Service (MAS).
Posted by: Edward Ware, 24 January, 2013
Interest payments on debt are eating away at the disposable income of UK households.
Posted by: Jessica Miller, 24 January, 2013
Three quarters of UK families are being forced to slash costs in order to cope with the spiralling cost of raising a child, a study has shown.
Posted by: Edward Ware, 23 January, 2013
The self-employed are struggling under a debt burden over four times greater than those in full or part-time employment.
Posted by: Edward Ware, 23 January, 2013
One in five Britons will enter retirement this year saddled with debt, according to Prudential.
Posted by: Edward Ware, 21 January, 2013
The majority of adults (61 percent) are unaware of who would be liable for their joint loan debts if they were to break up with their partner.
Posted by: Jessica Miller, 18 January, 2013
Payday loan lender Wonga is to use a collection agency to chase customers for outstanding debt for the first time.
Posted by: Edward Ware, 18 January, 2013
Rent arrears reached their highest level for a year in December as the impact of Christmas was felt on family budgets.
Posted by: Edward Ware, 17 January, 2013
Over a third of Britons (36.6 percent) say they would be unable to afford “an unexpected but necessary financial expense” such as an unanticipated bill.
Posted by: Edward Ware, 16 January, 2013
Rates debts in Northern Ireland have doubled over the last five years, according to a report from the assembly’s public accounts committee.
Posted by: Jessica Miller, 16 January, 2013
A third of Britons will slip deeper into credit card debt this January simply to cover essential daily buys, research from the Post Office has shown.
Posted by: Jessica Miller, 15 January, 2013
Low-income households could be forced into council tax debt in a benefit shakeup.
Posted by: Edward Ware, 15 January, 2013
The recent cold snap is set to have an adverse impact on household energy bills, according to uSwitch.
Posted by: Edward Ware, 14 January, 2013
The Office of Fair Trading (OFT) has warned Royal Bank of Scotland (RBS) and NatWest over the way they enforce the payment of unsecured debts through charging orders.
Posted by: Edward Ware, 11 January, 2013
The Office of Fair Trading (OFT) has announced that it is concerned about the conduct of a number of double glazing, insulation and solar panel firms.
Posted by: Jessica Miller, 11 January, 2013
More than half (58 percent) of older people are worried about paying their heating bills this winter, research from Saga has shown.
Posted by: Jessica Miller, 10 January 2013
Britons are embracing frugal living and using money tips to balance their household budgets, a study has revealed.
Posted by: Edward Ware, 10 January 2013
The Financial Ombudsman Service is hiring 1,000 new staff to handle PPI claims.
Posted by: Una Farrell, 9 January 2013
Retirement incomes have declined steeply in the last five years, according to a new survey from Prudential.
Posted by: Jessica Miller, 8 January 2013
MPs will vote to cap annual working ages benefit rises at one percent until 2016, breaking the traditional link between benefit rises and inflation.
Posted by: Edward Ware, 7 January 2013
Changes to child benefit which took effect at midnight will result in more than a million better-off families losing out.
Posted by: Edward Ware, 3 January 2013
Seventeen percent of British consumers will begin 2013 still paying off their debts from Christmas 2011.
December 2012
Posted by: Jessica Miller, 20 December 2012
Record high household energy bills could fuel the need for debt help, warns debt charity.
Posted by: Edward Ware, 19 December 2012
The average family budget is continuing to be squeezed by the rising cost of living, sparking concern over household debt levels.
Posted by: Edward Ware, 18 December 2012
Nearly half of Britain’s families are concerned about their debts.
Posted by: Edward Ware, 17 December 2012
Eight in 10 workers will end up with significant levels of Christmas debt over the festive period.
Posted by: Jessica Miller, 13 December 2012
Rents will jump by 4% in 2013, double the rate of UK house price growth, according to surveyors.
Posted by: Jessica Miller, 13 December 2012
Nearly a third of 25-40 year-olds have no money management plans or savings, according to a new report.
Posted by: Jessica Miller, 12 December 2012
House repossessions reflect a real north-south divide in the health of the country with the gap widening 25 percent in just six years.
Posted by: Edward Ware, 11 December 2012
Energy bills are going up for E.ON customers, after the company announces that the average dual fuel bill will rise by 8.7 percent for its customers.
Posted by: Jessica Miller, 11 December 2012
One in five renters would have to sleep on the street if they were evicted in the next month, new research has shown.
Posted by: Jessica Miller, 6 December 2012
Austerity cuts are to squeeze family budgets for two years longer than expected as Britain continues to struggle through the economic downturn, experts warn.
Posted by: Edward Ware, 5 December, 2012
StepChange Debt Charity has seen a dramatic rise in the number of people seeking its help with payday loans.
Posted by: Edward Ware, 4 December, 2012
Millions of people are getting themselves into debt every month, according a new survey from uSwitch.
Posted by: Jessica Miller, 4 December, 2012
Campaigners fear benefit cuts set to be announced by Chancellor George Osborne on Wednesday could cause serious debt problems for Britain’s poorest households.
Posted by: Edward Ware, 3 December, 2012
Consumer group Which? has found that millions of households are struggling and getting further into debt simply to make ends meet.
Posted by: Jessica Miller, 3 December 2012
Heavy handed bailiffs have been charging excessive fees and not explaining those fees when collecting council tax debt, the Local Government Ombudsman (LGO) has warned.
November 2012
Posted by: Edward Ware, 30 November, 2012
Housing and homeless charity Shelter has seen an 80 percent increase in the number of people who are either homeless or at risk of losing their home in the last three years.
Posted by: Jessica Miller, 29 November, 2012
According to new findings from StepChange Debt Charity the self-employed are the most dependent on credit and vulnerable to a problem debt cycle.
Posted by: Jessica Miller, 28 November, 2012
Many festive shoppers could risk a Christmas debt hangover with 36 percent planning to put purchases on credit or store cards, new research shows.
Posted by: Edward Ware, 27 November, 2012
Funds for energy efficiency programmes that would benefit poor households have been cut significantly, according to a new report.
Posted by: Una Farrell, 23 November, 2012
StepChange Debt Charity has released figures showing that many working households have council tax, energy, and rent arrears.
Posted by: Jessica Miller, 22 November, 2012
Research has shown 3.2 million homeowners are planning to ease debt worries in retirement by downsizing to a cheaper property.
Posted by: Jessica Miller, 21 November, 2012
Over six million British couples are keeping an average £9,546 in debt hidden from their partners.
Posted by: Edward Ware, 19 November, 2012
Payday loan users could find it more difficult to get a mortgage, it has emerged.
Posted by: Edward Ware, 15 November, 2012
Forty-nine percent of people feel that they are financially worse off now than they were 12 months ago, according to a new survey from GoCompare.com.
Posted by: Jessica Miller, 15 November, 2012
Five million E-ON customers are to be hit by an 11 percent hike in utility bills sparking concerns more households could fall into debt.
Posted by: Edward Ware, 14 November, 2012
Inflation unexpectedly rose by 0.5 percent last month and experts are warning that it could reach 3 percent by the end of the year.
Posted by: Una Farrell, 13 November, 2012
More than five million people are considering taking out a payday loan in the next six months, according to a new report from insolvency firm R3.
Posted by: Edward Ware, 8 November, 2012
Nearly half of people with payday loan debt can’t afford to pay back the money they owe, according to new findings from consumer group Which?
Posted by: Edward Ware, 7 November, 2012
British family budget are being hit by food price rises of 4%, according to new figures from the British Retail Consortium (BRC) and Nielsen.
Posted by: Una Farrell, 13 November, 2012
According to new research from Now: Pensions, 35 percent of Britons are not contributing to any kind of savings plan.
Posted by: Jessica Miller, 5 November, 2012
The leading UK debt charity Consumer Credit Counselling Service (CCCS) has become StepChange Debt Charity.
Posted by: Edward Ware, 5 November, 2012
Many people who could benefit from free debt advice are simply unaware that it exists, according to new research from the Money Advice Trust and Lloyds Banking Group.
October 2012
Posted by: Jessica Miller, 31 October, 2012
A senior adviser to David Cameron has left to join controversial payday lender Wonga. Jonathan Luff, the Prime Minister’s adviser on digital strategy, will head up Wonga’s government affairs team.
Posted by: Jessica Miller, 29 October, 2012
Consumer debt in September saw the biggest surge in over four-and-a-half-years fuelled by almost £1.2bn in extra personal loan and credit card debt.
Posted by: Edward Ware, 26 October, 2012
There was welcome news for struggling households today, as figures from Income Data Services (IDS) showed that annual pay deals were now running ahead of inflation.
Posted by: Una Farrell, 25 Ocotber, 2012
Leading debt charity Consumer Credit Counselling Service (CCCS) has found an alarming rise in the amount of store card debt held by the over-60s.
Posted by: Jessica Miller, 24 October, 2012
A study has found that one in four homeowners with mortgage arrears live in fear of house repossession.
Posted by: Edward Ware, 24 October, 2012
Households have “no appetite” for new debt according to the British Bankers Association (BBA). In the past year, the level of unsecured borrowing has contracted by 2.5 per cent.
Posted by: Jessica Miller, 23 October, 2012
One in three shoppers wait until the end of the day for food deals as the ‘sell-buy’date nears, research from Poundland shows.
Posted by: Edward Ware, 23 October, 2012
Almost 1.5 million people over 65 are still working, over half of whom say they have no option but to continue working as they have insufficient savings to retire, according to a new report from NFU Mutual.
Posted by: Frances Walker, 19 October, 2012
According to a new report from Scottish Widows, the gap between men’s and women’s pension savings has grown in the last year. Women are now saving £776 less per year than their male counterparts.
Posted by: Jessica Miller, 19 October, 2012
Rents have risen by a record breaking 1.1% in September sparking debt fears for tenants, a survey has shown.
Posted by: Edward Ware, 18 October, 2012
Mobile phone companies who raise their prices in the middle of a contract are to be the subject of an Ofcom investigation.
Posted by: Jessica Miller, 18 October, 2012
The number of people seeking debt help for five or more payday loans is soaring, according to debt charity Consumer Credit Counselling Service (CCCS).
Posted by: Jessica Miller, 17 October, 2012
A new report by the Children’s Society, Citizens Advice and Disability Rights UK suggests the majority of disabled people due to be affected by Universal Credit fear changes will push them into debt.
Posted by: Edward Ware, 16 October, 2012
Record numbers of people have used foodbanks in the last six months, according to the Trussell Trust charity.
Posted by: Jessica Miller, 16 October, 2012
The Prince's Trust has said the number of young-people who are long-term unemployed has doubled in four years.
Posted by: Edward Ware, 15 October, 2012
According to new figures from the TUC, the number of young people in long-term unemployment has risen steeply in the last two years.
Posted by: Jessica Miller, 15 October, 2012
Npower has become the latest major energy supplier to raise its prices, adding an average of£9 to monthly bills.
Posted by: Una Farrell, 12 October, 2012
Leading debt charity Consumer Credit Counselling Service (CCCS) has found that credit card and personal loan debt are being replaced by the increased use of overdrafts.
Posted by: Edward Ware, 12 October, 2012
Fuel bills are set to rise after British Gas hit customers with a six per cent hike in gas and electricity bills.
Posted by: Jessica Miller, 11 October, 2012
Mis-sold PPI claims continue to flood the Financial Ombudsman Service (FOS) with 66,882 new claims in the last three months.
Posted by: Edward Ware, 11 October, 2012
Derbyshire Building Society has launched a new personal loan with a rate of 5.6 per cent on amounts between £7,500-£14,999, the lowest rate seen since 2006, according to MoneySupermarket.com
Posted by: Jessica Miller, 10 October, 2012
Scottish and southern Energy (SSE) customers who are set to be hit by nine per cent tariff hike are being advised to consider utility switching as a way of avoiding soaring costs.
Posted by: Edward Ware, 10 October, 2012
Consumers face higher food prices as a result of poor harvests caused by the unseasonably wet summer, according to the British Retail Consortium.
Posted by: Edward Ware, 9 October, 2012
The squeeze on disposable income is easing and consumers are returning to the shops, albeit cautiously, according to new figures from the British Retail Consortium.
Posted by: Edward Ware, 8 October, 2012
Payday loan companies are coming under greater scrutiny from the Office of Fair Trading according to new figures uncovered by law firm Pinsent Masons.
Posted by: Jessica Miller, 8 October, 2012
A further £10bn of welfare benefit cuts are expected to be announced later today, on top of the £18bn already underway.
Posted by: Edward Ware, 05 October, 2012
Benefit cuts will be applied to almost 1.2 million workers if they do not look for extra work under Universal Credit, according to a new report from the Resolution Foundation.
Posted by: Jessica Miller, 05 October, 2012
Housing bodies are warning rental tenants in Wales after a 15% increase in evictions due to rent arrears.
Posted by: Jessica Miller, 04 October, 2012
Union leaders say the average worker is £1,600 worse off than three years ago because of the‘dire’ state of the economy.
Posted by: Jessica Miller, 03 October, 2012
Fewer people contacting CCCS for help with credit card debt but debt problems are starting earlier, research reveals.
Posted by: Edward Ware, 03 October, 2012
According to a new survey by Now: Pensions, Britons are significantly underestimating the amount of time they will spend in retirement, and that only 55 per cent are saving for their financial future.
Posted by: Jessica Miller, 2 October, 2012
Mortgage arrears fears were sparked yesterday with news that 1.5million families are being hit with the highest repayments in three years.
Posted by: Edward Ware, 2 October, 2012
Consumers are continuing to pay off loans, credit cards and mortgages, whilst banks are reluctant to lend amid concerns about the wider economy, according to the latest Bank of England figures.
Posted by: Edward Ware, 1 October, 2012, 2012
Automatic enrolment into workplace pensions begins today, the changes to the system will affect millions of workers across the UK.
Posted by: Jessica Miller, 1 October, 2012
Low-paid workers will suffer despite an increase in the national minimum wage, union leaders warn.
September 2012
Posted by: Edward Ware, 28 September, 2012
Britons saw the largest leap in disposable incomes in three years between April and June, according to figures released by the ONS. The figures represent welcome news for consumers as the squeeze on personal finances may be slowing.
Posted by: Edward Ware, 27 September, 2012
The average Briton will only have a brief ‘window of wealth’ between the ages of 58 and 65, according to new research by the Skipton Building Society.
Posted by: Jessica Miller, 27 September, 2012
Money problems force three in ten parents with children under 18 to take money from their child’s savings, research has found.
Posted by: Jessica Miller, 26 September, 2012
A survey has revealed the average British person wastes £107 a month buying things they do not need, amounting to nearly £80,000 over a lifetime.
Posted by: Edward Ware, 26 September, 2012
Complaints about the water industry fell by 12 per cent in the last year, and the fall means that complaints are now at their lowest level since 2005.
Posted by: Jessica Miller, 25 September, 2012
Personal loan debt repayments continue to outstrip new borrowing as consumers look to tackle their debts, latest figures show.
Posted by: Edward Ware, September 25, 2012
Equity release appears to be increasingly popular with elderly retirees.
Posted by: Jessica Miller, 24 September, 2012
Utility switching rules are to be relaxed to allow pre-payment meter customers who are debt with their supplier by up to £500 switch to a cheaper deal.
Posted by: Edward Ware, September 24, 2012
According to a new survey, households are beginning to feel that the financial pressure may be easing. The Markit index found that 29 per cent of households expect to see an improvement in their finances in the next year.
Posted by: Jessica Miller, 21 September, 2012
UK rent arrears reduced in August despite spiralling private rents increasing for the fifth consecutive month, a study has found.
Posted by: Edward Ware, 21 September, 2012
According to a leading accountancy firm, HM Revenue and Custom is proposing changes to policy that will likely hit the elderly and vulnerable, the very groups the existing rules are designed to protect.
Posted by: Jessica Miller, 20 September, 2012
The cost of energy is set to soar by up to 30 per cent in the next two weeks as cheap energy deals come to an end.
Posted by: Edward Ware, 20 September, 2012
The number of people paying into private sector pensions has fallen to an all-time low, according to official figures.
Posted by: Edward Ware, 20 September, 2012
Despite the recent fall in the pace of inflation, Britons will still continue to see their household incomes squeezed due to higher energy bills and rising commodity prices, according to the Bank of England’s interest rate committee.
Posted by: Edward Ware, 19 September, 2012
A new report from consumer watchdog Which? has found that households using the least energy are paying up to 30 per cent more than those who are using more units.
Posted by: Una Farrell, 19 September, 2012
According to Saga, the over 60s have seen a 22 per cent increase in the cost of living since the failure of Northern Rock in 2007.
Posted by Edward Ware, 18 September, 2012
First Direct founders launch new scheme to help pay children’s university costs and other expenses.
Posted by Edward Ware, 18 September, 2012
The Co-operative bank has announced that it will no longer offer bank accounts to new customers who are in un- discharged bankruptcy, Barclays are now the sole provider of accounts to those recovering from bankruptcy.
Posted by Edward Ware, 17 September, 2012
According to a BBC investigation a number of bank customers are being told that they cannot cancel payments to payday lenders, despite a legal requirement to do so.
Posted by Edward Ware, 17 September, 2012
A new MoneySupermarket report has found that 18-34-year-olds are the group whose finances have been most affected over the past 12 months.
Posted by: Edward Ware, 14 September, 2012
BT is to hit some consumers with price rise of up to 5.9% next year.
Posted by: Jessica Miller, 14 September, 2012
CCCS welcomes a campaign from debt charity Christians Against Poverty (CAP) which urges people to save early for Christmas.
Posted by: Edward Ware, 13 September, 2012
Annual energy bills may be set to rise by £120 next year and hit a new record of over£1400, according to a new report from energyhelpline.com.
Posted by: Jessica Miller, 13 September, 2012
The Cost of Dying report from insurer Sun Life Direct shows funeral costs have risen 6.2 percent in the last year alone.
Posted by: Edward Ware, 12 September, 2012
Almost four in 10 people this year are concerned about the cost of their heating bills, according to a new report from Consumer Focus.
Posted by: Jessica Miller, 12 September, 2012
UK schoolchildren are worried about debt and want lessons in money management, research has revealed.
Posted by: Jessica Miller, 11 September, 2012
Complaints about mis-sold PPI continue to flood the Financial Ombudsman Service (FOS).
Posted by: Edward Ware, 11 September, 2012
CCCS is concerned that separation related debt problems could spike as new research suggests divorces tend to rise in the period following the summer holidays.
Posted by: Jessica Miller, 10 Spetmeber, 2012
Student debt repayments will make it harder for graduates to afford a mortgage, research is warning.
Posted by: Edward Ware, 7 September, 2012
The cost of a care room has risen 5.6 per cent, double the rate of inflation, according to a new report from Prestige Nursing + Care.
Posted by: Jessica Miller, 7 September, 2012
UK unemployment is hitting northern parts of the country hard with four out of Britain’s five worst arrears for joblessness located in the North of England and Scotland.
Posted by: Edward Ware, 6 September, 2012
The Office of Fair Trading is launching in an investigation into petrol and diesel prices.
Posted by: Jessica Miller, 6 September, 2012
Money problems are the daily reality for millions of pensioners hardest hit by record low interest rates, poor pension pots and spiralling inflation, a report is warning.
Posted by: Edward Ware, 5 September, 2012
One in three adults in the UK expects to remain in debt indefinitely according to new research from myvouchercodes.co.uk.
Posted by: Jessica Miller, 5 September, 2012
The City watchdog has moved to prevent bank staff ‘selling’ unsuitable products for bonuses in light of the mis-sold PPI scandal.
Posted by: Edward Ware, 4 September, 2012
A new report from the TUC has found that one million more people are underemployed since the eve of the recession in 2008.
Posted by: Jessica Miller, 4 September, 2012
Almost a quarter of people feel they have been ‘ripped off’ at some point by letting agents, Shelter has revealed.
Posted by: Edward Ware, 3 September, 2012
The cost of raising a child has increased to just over £8000 a year, according to a new report from the Halifax.
Posted by: Jessica Miller, 3 September, 2012
The price of landline calls for Orange customers are set to increase, in some cases quite sharply, from September 19.
August 2012
Posted by: Edward Ware, 31 August, 2012
In a new Treasury committee report, MPs have called on RBS and Lloyds TSB to allow basic bank account customers to be able to use their cards in all rival’s cash machines.
Posted by: Jessica Miller, 31 August, 2012
Rogue debt management companies who deliberately mislead customers are continuing to trade despite new industry regulations.
Posted by: Edward Ware, 30 August, 2012
Credit card lending experienced its largest drop in six years this July, as consumers continue to pay down what they owe and remain reluctant to take on more debt, new Bank of England figures show.
Posted by: Jessica Miller, 30 August, 2012
Demand for debt help in retirement will grow as many fail to factor increasing life expectancy into their saving and pension plans, experts warn.
Posted by: Edward Ware, 29 August, 2012
New figures from the Office of National Statistics (ONS) show that the number of households where no adult aged 16-64 is in work has fallen for a second consecutive year.
Posted by: Edward Ware, 28 August, 2012
The Ministry of Justice announced today that consumers who receive poor service from claims management companies (CMCs) will be able to take their case the Legal Ombudsman.
Posted by: Jessica Miller, 28 August, 2012
Millions of couples are hiding debts from each other with women the most in need of debt help owing an average £8,000 more, a report has found.
Posted by: Jessica Miller, 24 August, 2012
Family budgets are so squeezed by utility price hikes, soring food prices and salary freezes that one in three say they could not afford even a £50 increase in bills.
Posted by: Edward Ware, 24 August, 2012
Credit card spending has fallen as households continue to choose to pay off debts, new figures from the British Bankers Association (BBA) have shown.
Posted by: Edward Ware, 23 August, 2012
Thousands of consumers have been hit by an unexpected rise in their mortgage payments following Santander’s announcement that it was increasing its standard variable rate by 0.5 percentage points to 4.7%.
Posted by: Jessica Miller, 23 August, 2012
Official figures show 968,000 young people are classed as NEETs, not in education, employment or training.
Posted by: Edward Ware, 22 August, 2012
The latest Asda income tracker finds that last month the average household was £1 better off than in July 2011. This equates to a 0.6% rise from last year, the largest annual increase since March 2010.
Posted by: Jessica Miller, 21 August, 2012
More families are relying on each other to ‘survive and thrive’ in tough economic times, according to research by Aviva.
Posted by: Jessica Miller, 21 August, 2012
Debt problems are such a worry for most British households that 61% would say they ‘don’t feel financially secure at all’, according to research by uSwitch.com.
Posted by: Edward Ware, 21 August, 2012
Consumer group Which? has uncovered large variations in the cost of ‘free’ current accounts in a new piece of research that it claims ‘shatters the myth of ‘free’ banking’.
Posted by: Una Farrell, 20 August, 2012
New figures from the Council of Mortgage Lenders (CML) show that mortgage lending rebounded in July.
Posted by: Jessica Miller, 20 August, 2012
Weak income growth is squeezing household budgets so much that spending power was no stronger in July than it was a year ago.
Posted by: Jessica Miller, 17 August, 2012
Money saving shopping for just 30 minutes a week can result in a saving of nearly £1,000 a year that could be used to ease debt problems.
Posted by: Una Farrell, 17 August, 2012
New research by letting group LSL has found that the average rent paid by private tenants in England and Wales has reached a new record high.
Posted by: Una Farrell, 16 August, 2012
People may still only have to pay a maximum of £35,000 for their care in old age.
Posted by: Jessica Miller, 16 August, 2012
Mis-sold PPI is still a massive issue as the Financial Ombudsman reveal they are dealing with 1,500 new cases a day.
Posted by: Jessica Miller,15 August, 2012
Mortgage deals are being offered with perks that offer little return simply to tempt borrowers into expensive home loans.
Posted by: Una Farrell, 15 August, 2012
As UK unemployment figures for the three months to June show that youth unemployment remains high, concerns have been raised about the prospects for young people.
Posted by: Jessica Miller, 14 August, 2012
The cost of train travel is set to rise at twice the rate of inflation, spiking by 6.2 % in January.
Posted by: Una Farrell, 14 August, 2012
The Office for National Statistics (ONS) have revealed the consumer prices index (CPI) measure of inflation rose to 2.6% in July from 2.4% in June.
Posted by: Una Farrell, 13 August, 2012
A new survey by the Chartered Institute of Personnel and Development (CIPD) has found that a third of private sector companies are keeping on more staff than they need.
Posted by: Jessica Miller, 10 August, 2012
A payday loan lender shutdown by the OFT is still lending money despite having its licence revoked.
Posted by: Una Farrell, 10 August, 2012
The Royal Institution of Chartered Surveyors (RICS) is predicting a 3.9% rent rise over the next year. It says that this is after a 4% rise over the last 12 months.
Posted by: Jessica Miller, 9 August, 2012
Visa has released figures that show credit card spending was up during the first week of the Olympic games.
Posted by: Una Farrell, 8 August, 2012
New figures from consumer watchdog the Financial Ombudsman Service (FOS) reveal a rise in the number of complaints about credit reference agencies over the past year.
Posted by: Jessica Miller, 8 August, 2012
Home owners with mortgage arrears should continue to receive temporary benefits to help avoid repossession for at least another year, lenders have urged.
Posted by: Una Farrell, 7 August, 2012
Grandparents are being forced to release equity from their homes in order to help out struggling children and grandchildren according to a new report from the Equity Release Council.
Posted by: Jessica Miller, 6 August, 2012
Bankruptcy figures have fallen but this is not because household budgets have improved but that the fees are too high, a leading debt advice body is warning.
Posted by: Una Farrell, 6 August, 2012
Lower bank borrowing costs and the government's new Funding For Lending scheme has led to an intensification of the mortgage price war as more lenders cut rates.
Posted by: Una Farell, 6 August, 2012
Insolvency has dropped since last year but millions of households remain financially vulnerable, warns StepChange Debt Charity.
Posted by: Jessica Miller, 02 August, 2012
Insolvency figures show that in the early part of this year, for the first time ever, as many women as men were declared insolvent.
Posted by: Jessica Miller, 1 August, 2012
It is hoped a new scheme launched today will encourage banks to lend more money to help ease household budgets.
Posted by: Una Farrell, 1 August, 2012
New data from the Office for National Statistics has revealed that UK households' real spending power fell by 0.6% in the first three months of 2012 leaving families' finances as the lowest level since 2005.
July 2012
Posted by: Jessica Miller, 31 July, 2012
Mis-sold payment protection insurance (PPI) is to cost HSBC a further £341.6 million tipping the total cost over the £1 billion mark.
Posted by: Una Farrell, 31 July, 2012
New figures from the Bank of England suggest that mortgage lending is declining. Mortgage repayments outstripped new lending in June for the first time in a year.
Posted by: Una Farrell, 30 July, 2012
A rise in the number of properties on the market combined with shrinking demand has led to a fall in house prices, property analyst Hometrack said.
Posted by: Jessica Miller, 27 July, 2012
More people may suffer from debt problems in the coming months as figures show the recession has deepened.
Posted by: Una Farrell, 27 July, 2012
It has been announced that Centrica, the parent company of British Gas, has seen a 23% rise in revenue from its residential energy business in the first half of 2012.
Posted by: Jessica Miller, 25 July, 2012
Payday loans companies are to be forced to offer more help to struggling borrowers under a new charter.
Posted by: Jessica Miller, 20 July, 2012
Equity release provider JustRetirement is calling for the government to boost awareness of equity release as an option to fund retirement in the wake of a declining market.
Posted by: Jessica Miller, 19 July, 2012
The government today announced The Office of Fair Trading (OFT) are to get new powers to immediately shut down rouge debt help firms who are exploiting clients.
Posted by: Una Farrell, 18 July, 2012
Office for National Statistics published today show that the unemployment rate has fallen to 8.1% in the three months to May, down from 8.3% in the previous quarter.
Posted by: Jessica Miller, 17 July, 2012
The Coalition are to publish new figures which they claim show the plan to cap benefits is already starting to push people back into work.
Posted by: Una Farrell, 17 July, 2012
New figures from the Office for National Statistics reveal that Consumer Prices Index inflation has dropped to 2.4% in June, down from 2.8% in May.
Posted by: Una Farrell, 16 July, 2012
Industry regulator Ofgem have said that household energy bills will rise by £11 a year by 2020 as a result of developments it is making. This is an increase of more than 8% on current costs.
Posted by: Jessica Miller, 16 July, 2012
Over half of the UK public is worried about debt with some considering taking payday loans.
Posted by: Jessica Miller, 11 July, 2012
A retirement spent in debt could be the harsh reality for the average pensioner who owes 128% of their monthly income on credit cards, a report has found.
Posted by: Una Farrell, 10 July, 2012
Research by the Joseph Rowntree Foundation has found that a couple with two children now need to earn £36,800 a year to have a "socially acceptable" standard of living.
Posted by: Jessica Miller, 10 July, 2012
Borrowers risk having their mortgage application rejected if they have recently taken out payday loans, regardless of whether it was paid back.
Posted by: Una Farrell, 9 July, 2012
UK unemployment will hit three million in the near future according to two new economic surveys.
Posted by: Jessica Miller, 9 July, 2012
Building societies are calling for tougher regulation as firms continue to bombard them with bogus payment protection insurance (PPI) claims.
Posted by: Una Farrell, 6 July, 2012
There could be more than one million children living in vulnerable families by 2015. That is the warning from charities the NSPCC, Action for Children and The Children's Society.
Posted by: Jessica Miller, 5 July, 2012
Household budgets are so stretched that families are being forced to fall back on credit just to pay bills, a charity has suggested.
Posted by: Una Farrell, 4 July, 2012
The latest National Savings & Investments' quarterly savings survey has found that people are saving less than they were a year ago.
Posted by: Una Farrell, 3 July, 2012
The number of teenagers with Saturday jobs has decreased sharply since the late nineties according to the UK Commission for Employment and Skills (UKCES).
Posted by: Jessica Miller, 3 July, 2012
New borrowing on credit cards, personal loans and overdrafts increased sharply in May, according to the Bank of England.
Posted by: Jessica Miller, 2 July, 2012
The Office of Fair Trading (OFT) has been forced to close 90 debt help firms in 18 months as part of an on-going crackdown on poor standards.
Posted by: Una Farrell, 2 July, 2012
New research from recruitment company Reed has revealed that new job vacancies increased by more than seven percent last month compared with a year ago.
June 2012
Posted by: Una Farrell, 28 June, 2012
Many NatWest and Royal Bank of Scotland branches will be open over the weekend to tackle the ongoing problems faced by customers following the IT meltdown at the banks.
Posted by: Una Farrell, 28 June, 2012
New research from housing and homelessness charity Shelter has pinpointed the UK’s repossession risk hotspots to show where homeowners are most likely to be repossessed.
Posted by: Jessica Miller, 6 June, 2012
Low interest rates are helping young homeowners move out of debt and improve their household budgets, StepChange Debt Charity can reveal.
May 2012
Posted by: Jessica Miller, 31 May, 2012
Shoppers are falling into credit card debt trying to emulate high profile celebrities like Cheryl Cole, a consumer survey has found.
Posted by: Jessica Miller, 29 May, 2012
Late payments on higher interest credit cards are at a two year low, according to research.
Posted by: Jessica Miller, 23 May, 2012
More people seek debt help for money owed to catalogue companies than those struggling with rent, mortgages and payday loans, according to a debt charity.
Posted by: Jessica Miller, 4 May, 2012
A sharp increase in struggling borrowers choosing a debt relief order (DRO) to solve their debt problem has caused overall personal bankruptcy figures to rise for the first time in a year.
March 2012
Posted by: Jessica Miller, 23 March, 2012
Debt help firms that charge a fee for their service have been given more details on how they must operate amid rising complaints.
Posted by: Jessica Miller, 27 March, 2012
Britain's youth are not saving enough so will have to work harder for longer to avoid a retirement in debt, warns the Bank of England.
Posted by: Jessica Miller, 15 March, 2012
400 Scottish people will enter sequestration every week in 2012 because of poor economic conditions, an accountancy firm has predicted.
