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Disabled more likely to use doorstep loans

Posted by: Edward Ware, 23 July, 2013

Disabled people are three times as likely to use doorstep loans according to new findings from Scope.

Half of all Brits are worried about debt

Posted by: Edward Ware, 22 July, 2013

More than 20 million people – nearly half the adult population – are worried about their debt levels, according to a new survey by R3, the insolvency trade body.

Vulnerable low income families may be forced to use payday loans

Posted by: Edward Ware, 18 July, 2013

Government changes to financial crisis funding may drive vulnerable low income families further into debt forcing them to use payday loans for emergencies.

PPI claims continue to rise

Posted by: Edward Ware, 16 July, 2013

New figures show that complaints about mis-sold PPI continue to rise.

Payday loan debt problems continue to worsen

Posted by: Edward Ware, 12 July, 2013

More people are struggling with payday loan debts, according to new figures from StepChange Debt Charity.

One in twenty families rely on payday loans

Posted by: Edward Ware, 10 July, 2013

Five percent of British families say that they are now reliant on payday loans, according to the latest Aviva Family Finances report.

Energy firm fined for nuisance calls

Posted by: Edward Ware, 9 July, 2013

A Manchester energy company has been fined for making nuisance calls.

Thousands more people struggling with rent arrears

Posted by: Edward Ware, 5 July, 2013

More people are struggling with severe rent arrears – those more than two months behind on rent payments

Banks must cancel recurring payments like payday loans

Posted by: Edward Ware, 28 June, 2013

The Financial Conduct Authority (FCA) has today “reminded banks of their obligations when cancelling Continuous Payment Authorities (CPAs)”.

Which? mortgage survey finds confusion over fees

Posted by: Edward Ware, 21 June, 2013

New research from consumer group Which? has found that 99.5 percent of people could not identify the best mortgage deal as fees and charges for issues such as falling into mortgage arrears were unclear.

Relax credit union rules to help fight payday loans

Posted by: Edward Ware, 18 June, 2013

A thinktank has urged the government to relax rules on credit unions to help them become a viable alternative to payday loans.

MP announces bill to regulate payday loans

Posted by: Edward Ware, 17 June, 2013

Labour MP Paul Blomfield announced today that he will introduce a Private Members’ Bill that will seek to “regulate payday money lenders” and high-cost credit companies.

Thousands seeking debt help in the middle of the night

Posted by: Edward Ware, 11 June, 2013

Over 10,000 people have sought debt help in the middle of the night according to new figures from StepChange Debt Charity.

Low-income households struggling with rent and mortgage arrears

Posted by: Edward Ware, 7 June, 2013

New findings from StepChange Debt Charity show that households with an income of less than £10,000 struggling to keep a roof over their heads.

Labour announces benefit changes policy

Posted by: Edward Ware, 6 June, 2013

Labour leader Ed Miliband today announced that if his party came to power it would cap the welfare budget.

Millions at risk of energy bill price hike

Posted by: Francesca Toma, 6 June, 2013

Over two million UK households who use electricity to heat their homes may have to pay £282 more a year by 2020, according to a report by Consumer Futures.

Regulation of payday loan industry “timid and ineffective”

Posted by: Edward Ware, 31 May, 2013

The Office of Fair Trading’s (OFT) regulation of the payday loans sector has been described as “timid and ineffective”.

A third of tenants at risk of losing their deposits

Posted by: Francesca Toma, 30 May, 2013

One in three renters is unaware of their right to have their deposit protected to ensure their cash is kept safe, Shelter revealed today.

Sharp increase in consumer complaints

Posted by: Francesca Toma, 29 May, 2013

Consumers’ lack of trust in financial firms led to two million complaints taken up by the Financial Ombudsmen Service (FOS) last year, its 2012-13 annual report shows.

Charity calls for action on payday loans

Posted by: Edward Ware, 28 May, 2013

StepChange Debt Charity calls for clear action on payday loans.

Fuel poverty and utility bill debt concerns for the over 60s

Posted by: Edward Ware, 22 May, 2013

StepChange Debt Charity has raised concerns over the numbers of over 60s struggling with fuel poverty.

Family carers in payday loan debt

Posted by: Francesca Toma, 22 May, 2013

Carers struggling with the financial strain of caring for elderly and disabled relatives are turning to payday loans, selling valuable items and taking on extra work to keep afloat, according to new research.

Crackdown on confusing supermarket deals

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.

Squeeze on household budgets eases

Posted by: Edward Ware, 20 May, 2013

The squeeze on UK household budgets is relenting according to the latest Markit household finance indext.

Debt and mental health problems affect tens of thousands

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.

House repossession and mortgage arrears figures remain flat

Posted by: Edward Ware, 10 May, 2013

New figures from the Council of Mortgage Lenders show little movement in house repossession mortgage arrears.

Debt crisis for the over 60s

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.

Charity sees doubling in numbers with payday loan debts

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

Millions of households turn to credit or savings to pay for food

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?

Bankruptcy and DROs fall as personal insolvency hits five-year low

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.

Millions of people in interest-only mortgage shortfall

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.

Self-employed debt levels far higher than average

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.

Universal Credit launches today in Greater Manchester

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.

One in five deliberately falls into personal loan debt

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.

Payday loan debt chased aggressively

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.

Dramatic increase in council tax debt, utility bill and rent arrears

Posted by: Edward Ware, 25 April, 2013

The squeeze on household budgets is reaching crisis levels according to new findings from StepChange Debt Charity.

Significant increase in demand for UK food banks

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.

Banks are slow to process PPI claims

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.

Shelter sees surge in demand for debt help with rent arrears

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.

Squeeze on household finances prompts debt problem fears

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.

Proposed energy tariffs could increase utility bills

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.

40% of adults expect to sell their home to fund care in retirement

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.

Those with debt problems may be at risk from quick house sale market

Posted by: Edward Ware, 18 April, 2013

The Office of Fair Trading (OFT) has today launched a study into the “quick house sale market”.

Rise in unemployment will lead to increase in debt problems

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.

Scottish government considers bedroom tax law change

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’.

Energy debt problem fears for one in four Scots

Posted by: Francesca Toma, 16 April, 2013

More than 170,000 Scottish households are unable to pay their energy bills.

PPI remains most complained about financial product

Posted by: Edward Ware, 15 April, 2013

Payment Protection Insurance (PPI) remains the most complained about financial product, according to figures released today.

Benefits cap roll out begins in London

Posted by: Francesca Toma, 15 April, 2013

One of the Government’s key benefit changes begins in four London boroughs today.

Young people are less reliant on Bank of Mum and Dad

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.

Benefit changes will take £19bn out of the economy

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.

Eight million people are one payday away from rent arrears

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.

Edinburgh Council opts for no eviction policy over bedroom tax

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”.

Credit card debt fears over automatically increased credit limits

Posted by: Francesca Toma, 10 April, 2013

StepChange Debt Charity has raised concerns that high street banks are automatically increasing credit card limits.

Five million households struggling with energy bill debts

Posted by: Edward Ware, 9 April, 2013

One in five households in the UK is currently struggling with energy bill debts.

More tenants with severe rent arrears

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.

StepChange Debt Charity warns over increased borrowing

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.

Council Tax debts fears following benefit changes

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.”

Four in ten families cutting back on food to avoid housing debts

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.

Scotland suffers worst rise in insolvency in the UK

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.

Utility bill debt fears over incorrect bills

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.

Charity opposes increased use of charging orders

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

Payday loan company shut down by OFT

Posted by: Edward Ware, 20 March, 2013

Payday loan company MCO Capital Limited has been shut down by the Office of Fair Trading (OFT).

Consumer group calls for action on spam texts and calls

Posted by: Edward Ware, 19 March, 2013

Which? has called for tighter restrictions on spam texts and calls.

Universal credit and other changes will leave many worse off

Posted by: Edward Ware, 11 March, 2013

Nine out of 10 families will be worse off under upcoming benefit changes.

Debt Help Direct collapses

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.

Pensions and credit card debts biggest financial regrets for Baby boomers

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.

Payday loan firms warned over conduct

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.

Grandparents’ cash hand-outs to beat debt problems

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.

Charity sees big rise in payday loan debts

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.

Unemployment leaves under 25s struggling with debt problems

Posted by: Edward Ware, 26 February, 2013

Unemployment is a greater cause of debt problems for young people than for any other age group.

Elderly urged to conduct benefits check

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.

Brits risking debt in retirement

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.

Utility debt concerns as Ofgem head warns of further price rises

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.

Falling wages leave many vulnerable to debt problems

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.

Cost of living rises slower for over-55s

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.

Debt problems and money worries affect sleep of one in four

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.

Payday loan debt problems on the rise in Scotland

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.

Debt management to be taught in schools

Posted by: Jessica Miller, 7 February, 2013

Debt management is to be taught in English schools for the first time, it was announced today.

Self-employed numbers rise, but debt advice charity expresses concerns

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.

Claims firms continue to take PPI cut

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.

Utility bill debt worries as average water bills rises

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.

Buy-to-let increase prompts rent debt concerns

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.

Personal insolvencies continue to fall

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.

PPI claim complaints up to 11,000 a week

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.

Shop workers’ charity reports rising fear of debt problems

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.

More Brits consider their debt a burden

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.

New bailiff rules announced

Posted by: Edward Ware, 25 January, 2013

The Ministry of Justice has announced new proposals to control aggressive bailiff conduct.

Warning over free debt advice shortage

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).

UK family budgets eroded by debt

Posted by: Edward Ware, 24 January, 2013

Interest payments on debt are eating away at the disposable income of UK households.

Three in four parents slash costs to afford children

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.

Self-employed face highest debt burden

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.

One in five will start retirement in debt

Posted by: Edward Ware, 23 January, 2013

One in five Britons will enter retirement this year saddled with debt, according to Prudential.

Joint debts cause confusion for couples

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.

Wonga to sell on payday loan debt

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.

Rent arrears debt rises over Christmas

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.

Unexpected bills could push many into debt

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.

Northern Ireland rates debts rise

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.

Third of Britons forced into January credit card debt

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.

Council tax ‘lottery’ could spell debt problems for poorest

Posted by: Jessica Miller, 15 January, 2013

Low-income households could be forced into council tax debt in a benefit shakeup.

Cold snap hits energy bills

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.

OFT warns two banks over charging orders

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.

OFT warns over energy-efficiency firms

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.

Utility bill debt worry for three in five older people

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.

Britons hot for money tips

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.

Ombudsman hires 1,000 to handle PPI claims

Posted by: Edward Ware, 10 January 2013

The Financial Ombudsman Service is hiring 1,000 new staff to handle PPI claims.

Retirement income falls

Posted by: Una Farrell, 9 January 2013

Retirement incomes have declined steeply in the last five years, according to a new survey from Prudential.

Benefit rises may be capped at 1%

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.

Over one million to lose child benefit

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.

One in five still paying for Christmas 2011

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

Soaring utility bills spark debt fears

Posted by: Jessica Miller, 20 December 2012

Record high household energy bills could fuel the need for debt help, warns debt charity.

Family budget worry over inflation squeeze

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.

Half of Britain’s families have debt worries

Posted by: Edward Ware, 18 December 2012

Nearly half of Britain’s families are concerned about their debts.

Christmas debt mountain for UK workers

Posted by: Edward Ware, 17 December 2012

Eight in 10 workers will end up with significant levels of Christmas debt over the festive period.

Spiralling rents set to jump 4%

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.

A third of 25-40 year-olds risking debt problems

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.

House repossessions a third higher in North

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.

E.ON raises prices

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.

Homelessness fear over rent arrears

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.

Budget 2012: No respite for families until 2014

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.

More people seeking help for payday loan debts

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.

Millions getting into debt each month

Posted by: Edward Ware, 4 December, 2012

Millions of people are getting themselves into debt every month, according a new survey from uSwitch.

Fears benefit cuts spell debt problems for millions

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.

Which? find millions need debt help

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.

Council tax debt bailiffs warned

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

Dramatic rise in homelessness risk

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.

Self-employed more vulnerable to problem debt

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.

Debt worry over Christmas credit rush

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.

Energy efficiency funding cut

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.

Working households struggling financially

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.

Downsizing to ease retirement debt worries

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.

Millions of Britons keeping ‘debt secrets’

Posted by: Jessica Miller, 21 November, 2012

Over six million British couples are keeping an average £9,546 in debt hidden from their partners.

Payday loan debt mortgage impact

Posted by: Edward Ware, 19 November, 2012

Payday loan users could find it more difficult to get a mortgage, it has emerged.

People feel worse off than a year ago

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.

Utility bill debt fear over E-ON price hike

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.

Inflation jumps 0.5 percent

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.

Payday loan debt may be set to rise

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.

Nearly half can’t repay payday loan debts

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?

Family budgets hit by food price hikes

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.

Retirement out of reach for many Britons

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.

StepChange Debt Charity rebrands from CCCS

Posted by: Jessica Miller, 5 November, 2012

The leading UK debt charity Consumer Credit Counselling Service (CCCS) has become StepChange Debt Charity.

Free debt advice not known to half of Britons

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

David Cameron adviser joins payday lender

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.

Massive personal loan & overdraft debt surge

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.

Wage rises higher than inflation

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.

Store card debt for over-60s rises

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.

House repossession fear for 1 in 4

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.

Households avoiding new debt

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.

Food deals: 1 in 3 wait for price drop

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.

Retirement financially difficult for many

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.

Women prioritise debt repayments over savings 

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.

Rising rents may cause debt problems

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. 

Ofcom to investigate mobile contracts

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.

Multiple payday loan debt is soaring, says CCCS

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).

Universal Credit: Disabled people fear debt problems

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.

Foodbanks see record numbers

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.

Research compounds bleak youth figures

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.

Unemployment: Youth numbers rise

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. 

Npower announce energy price hike

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.

Overdraft debt rising says CCCS

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.

British Gas hits consumers with 6 per cent price rise

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.

Mis-sold PPI claims still rising

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.

Personal loan rate at lowest level since 2006

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

Utility switching advice as prices hikes loom

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.

Consumers face higher food prices

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.

Retail sales figures improve

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.

Payday loan firms under greater scrutiny

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.

Extra £10bn in welfare benefit cuts expected 

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.

Benefit cuts to hit 1 million working poor

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.

Rent arrears warning as repossession spikes 

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.

Debt problems fear for workers in ‘dire’ economy

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.

Credit card debt evolving

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. 

Britons failing to save for their financial future

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.

Mortgage arrears fear as payments rocket 

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.

Personal borrowing continues to fall

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.

Pensions auto-enrolment begins today

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.

Low-paid workers to feel the squeeze

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

Disposable income rises 1.9 per cent

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.

Average Briton has seven year 'window of wealth'

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.

Money problems force parents to raid children’s savings

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.

Budget advice:£80,000 wasted in a lifetime

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.

Water company complaints fall

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.

Personal loan debt continues to drop 

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.

Equity release in retirement on the rise

Posted by: Edward Ware, September 25, 2012

Equity release appears to be increasingly popular with elderly retirees. 

Utility switching rights extended to most in need

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.

Households see budget pressures easing

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.

Rent arrears drop despite spiralling costs

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. 

HMRC changes may affect elderly and vulnerable

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.

Debt fears as cost of energy set to soar

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.

Record low pension take-up

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.

Squeeze on household budgets set to continue

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.

Low energy users pay more

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. 

Elderly see fastest cost of living rises

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. 

New scheme to help families pay university costs

Posted by Edward Ware, 18 September, 2012

First Direct founders launch new scheme to help pay children’s university costs and other expenses. 

Co-op stops bank accounts for bankrupts

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.

Banks fail to cancel payday loan payments

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.

Young people's finances most affected over last 12 months

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.

Consumers hit by further rises to household bills

Posted by: Edward Ware, 14 September, 2012

BT is to hit some consumers with price rise of up to 5.9% next year.

Calls to save now to avoid Christmas debt

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.

Consumers to be hit with energy price rises

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.

Debt problem fears over spiralling funeral costs

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.

One in four households worried about fuel costs

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.

Children call for debt education in schools

Posted by: Jessica Miller, 12 September, 2012

UK schoolchildren are worried about debt and want lessons in money management, research has revealed. 

Mis-sold PPI complaints still rising

Posted by: Jessica Miller, 11 September, 2012

Complaints about mis-sold PPI continue to flood the Financial Ombudsman Service (FOS).

The debt cost of divorce

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.

Student debt mortgage challenge

Posted by: Jessica Miller, 10 Spetmeber, 2012

Student debt repayments will make it harder for graduates to afford a mortgage, research is warning.

Care home costs spiral

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.

UK unemployment in North-South divide

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.

OFT investigate fuel prices

Posted by: Edward Ware, 6 September, 2012

The Office of Fair Trading is launching in an investigation into petrol and diesel prices.

Money problems for millions of pensioners

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.

One in three expect to remain in debt 'indefinitely'

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.

FSA moves to avoid another mis-sold PPI scandal

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.

One million more underemployed

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.

One in four‘ripped off’when renting a house

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.

Cost of raising a child now over £8000 a year

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. 

Landline calls set to rise

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

MPs call for end to basic account ATM restrictions

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.

Rogue debt management companies still trading

Posted by: Jessica Miller, 31 August, 2012 

Rogue debt management companies who deliberately mislead customers are continuing to trade despite new industry regulations.

Credit card lending falls

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.

Debt in retirement risk for ageing UK

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.

Number of'workless households' falls

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.

Tougher rules for claims management companies

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.

Women most in need of debt help

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.

Family budgets are at breaking point

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.

Credit card spending falls

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.

Consumers hit with mortgage and energy price rises

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%.

Youth unemployment nears 1 million

Posted by: Jessica Miller, 23 August, 2012

Official figures show 968,000 young people are classed as NEETs, not in education, employment or training. 

Disposable income rise by £1

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.

Families turning to each other to beat debt

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. 

Debt problem burden for 61% of households

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.

Which? calls 'free banking' a myth

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’.

Mortgage lending rebounds

Posted by: Una Farrell, 20 August, 2012

New figures from the Council of Mortgage Lenders (CML) show that mortgage lending rebounded in July.

Budgets have not improved in a year

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.

Money saving can ease debt problems

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.

Debt worry as rents continue to climb

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.

Cost of old age care could face £35k cap

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.

Mis-sold PPI demand still massive

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.

Mortgage deals deemed worthless

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.

Concern over high rate of youth unemployment

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.

Rail fares to soar 6.2% by January

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.

Inflation rises to 2.6% in July.

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.

Make or breaktime for private sector jobs

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.

Payday loan firm shutdown by OFT still lending

Posted by: Jessica Miller, 10 August, 2012

A payday loan lender shutdown by the OFT is still lending money despite having its licence revoked.

Rents predicted to rise

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.

Credit card spending sees Olympic boost

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.

Rise in complaints about credit reference agencies

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.

Pleas for mortgage arrears help

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.

Equity release being used to help grandchildren

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.

Bankruptcy fees too high to solve debt problems

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.

Mortgage war intensifies

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.

Insolvency numbers highlight need for debt advice

Posted by: Una Farell, 6 August, 2012

Insolvency has dropped since last year but millions of households remain financially vulnerable, warns StepChange Debt Charity. 

Insolvency in women now as common as in men

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.

New bank loan scheme

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.

Household budgets under pressure

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

Mis-sold PPI bill keeps rising

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. 

Decline in mortgage lending

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.

House prices fall

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. 

Debt problems may grow as recession deepens

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.

British Gas urged to cut prices

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.

Payday loans charter forced on lenders

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. 

Equity release provider pleads for support

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. 

Debt help faces tougher regulation

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.

UK unemployment total falls

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.

Benefits cap 'pushing thousands into work'

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. 

Inflation down to 2.4% 

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.

Energy bills set to rise

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.

UK debt ‘worries’ revealed 

Posted by: Jessica Miller, 16 July, 2012

Over half of the UK public is worried about debt with some considering taking payday loans. 

Retirement in debt worry

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.

Family needs £36k for 'acceptable' living 

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.

Mortgages hit by payday loan history

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.

Unemployment predicted to hit 3 million

Posted by: Una Farrell, 9 July, 2012

UK unemployment will hit three million in the near future according to two new economic surveys. 

Action urged as bogus PPI claims soar 247%

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. 

Concern for financial vulnerability of children 

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.

Families forced into the red 

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.

Savings down

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. 

Saturday jobs in decline 

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). 

Sharp rise in credit debt

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. 

OFT reveal debt firm crackdown

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. 

Signs of good health in UK jobs market

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

Ulster Bank customers still waiting for their money

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.

Shelter identifies UK’s repossession hotspots

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.

Interest debt help for young homeowners

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

Celeb culture fuels credit card debt

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. 

Fall in credit card debt

Posted by: Jessica Miller, 29 May, 2012

Late payments on higher interest credit cards are at a two year low, according to research.

Surge in catalogue debt help

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.

Debt relief order (DRO) boom

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

OFT warn fee charging debt help firms

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.

Young risking retirement in debt 

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.

Sequestration to hit 400 a week

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. 

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