January 2011
Consumers `relying on credit card debt to get by`
31 January 2011
Many consumers have been relying on credit cards to help them catch up with the cost of the festive season, according to recent research by the Post Office.
The fourth annual Post Office Consumer Credit Report showed that one
Read more
Consumers continue to turn away from `high street debt`
27 January 2011
The latest figures from the Finance & Leasing Association (FLA) have revealed that consumers continued to avoid taking on debt to fund high street spending in November, the Independent has reported.
The amount of debt taken on through store
Read more
20% retiring in debt
26 January 2011
Over 20% of the people retiring this year will be carrying debts with them into retirement, research from Prudential indicates.
The `Class of 2011` study shows that on average, those debts will total £33,100, while 5% of people retiring
Read more
Households `most pessimistic about finances since early 2009`
25 January 2011
Growing debts and rising costs of living have contributed to a pessimistic outlook amongst households regarding their finances, a new report suggests.
Markit`s latest Household Finance Index - which tracks household spending, saving and debt levels - fell
Read more
One in five `relied on debt for Christmas spending`
24 January 2011
Online banking provider IE has found that one fifth of Christmas shoppers got into debt to fund their festive spending in 2010 and are now unable to repay what they owe, The Telegraph reports.
Overall, more than half of
Read more
December mortgage debt figures - weakest since 2000
21 January 2011
Figures from the Council of Mortgage Lenders (CML) have revealed that the amount of mortgage debt taken on in December (gross mortgage lending) totalled an estimated £11.0bn.
This was 6% lower than the £11.7bn recorded in November and represented
Read more
Cuts and rises to leave pensioners a further £240 a year worse off
20 January 2011
According to research from the Institute of Fiscal Studies (IFS), pensioners will be a further £240 a year worse off due to benefit cuts, fuel duty and the recent rise in VAT, The Telegraph reports.
The findings come just
Read more
Cost of debt could rise in May
19 January 2011
The Bank of England`s base rate could rise as early as May, an article from Reuters indicates, which means the cost of servicing many debts would go up sooner than a lot of people thought.
There`s a `growing minority`
Read more
Billpayers warned to prepare for expensive winter bills
18 January 2011
Billpayers should make sure they are prepared for expensive bills following the coldest December on record, says price comparison website moneysupermarket.com.
With around 40% of annual energy consumption used during winter, customers who pay for their exact energy
Read more
£1,800 a year more required to repay credit card debt by 2015
17 January 2011
Households will need an additional £1,800 per year just to pay the interest on their credit card debts by 2015, if rates increase as forecast, PricewaterhouseCoopers (PWC) has predicted.
With interest rates expected to increase by between two and
Read more
Some students will be paid to study
14 January 2011
According to an article in the Independent, hundreds of students will be paid £20,000 a year to study for a degree.
Under the scheme, which has been agreed between Durham University and management consultants and accountants KPMG, students will
Read more
3 million homeowners would struggle if interest rates rose by 1%
13 January 2011
According to research by MarketGuard, almost three million people would struggle to make payments towards their mortgage debts if interest rates were increased by just 1%, The Telegraph reports.
The news comes amid speculation that the Bank of England
Read more
Personal debt: a look over the Atlantic
12 January 2011
The UK isn`t alone in its debt problems. You may have heard the arguments about when and how quickly interest rates should go up and what the effects could be - but rest assured we`re not the only ones with
Read more
2 million Brits `covered mortgage or rent with credit cards`
10 January 2011
Research by Shelter, the housing and homelessness charity, has found that around 2 million people used credit cards to cover their mortgage or rent payments in the 12 months to August 2010 - an increase of almost 50% in a
Read more
A million `struggling with debt`
5 January 2011
Approximately 961,000 people in the UK are `struggling with debt`. So says R3, according to insolvency expert Louise Brittain, in an article on the BBC website.
After many years of widely available credit, people from all walks of life
Read more
Rise in petrol prices hits motorists
4 January 2011
Today`s VAT increase from 17.5% to 20% led to lengthy queues at petrol stations across the UK over the weekend, as motorists rushed to beat price rises.
With the average price of a litre of unleaded petrol standing at
Read more