Loan News
Four in ten adults worry about their personal debt
Four in ten adults in Britain (almost 19 million people) are worried about their debt, according to research by R3, the insolvency trade body.
Government launches My Home Finance scheme
Commenting on the launch of the Government's ‘My Home Finance' scheme, Joanna Elson OBE, chief executive of the Money Advice Trust, said: "We welcome this addition to the consumer credit market.
Credit Jungle: Consumer champions?
Ten years ago, John Dobson and his business partner, Mike Green, approached Skipton Building Society with a simple but ambitious plan. They wanted to create Britain’s third credit reference agency and a rival to the giants, Experian and Equifax.
Personal debt burden all too clear for Brits
Over 90% of Brits are aware of their own personal financial position and the level of debt they currently carry, according to research issued by accounting software company, Accountz.
One-third of new debts do not have life cover
A report by independent financial research company Defaqto has found that almost one-third of new debts do not have life cover associated with them.
Savings levels plunge as Brits rush to repay debt
As economic reports warn of a double dip recession, Brits are returning to repaying their debts, a behaviour last seen at the beginning of the financial downturn.
Debt charity warns of rise in repossessions
National debt charity Consumer Credit Counselling Service (CCCS) welcomes the fall in repossessions in the UK for the second quarter of 2010 that was announced today (August 12) by the Council of Mortgage Lenders.
Duchess of York’s debt woes reflected around the country
Commenting on the news that the Duchess of York is facing possible bankruptcy, Louisa Parker, Head of Research and Policy at the Money Advice Trust, said: "Coping with unmanageable debt is a difficult experience no matter what your background.
Over 2 million holidaymakers in debt over holiday
Over 2 million (2,329,500) holidaymakers have had to borrow on average more than £1000 (£1,130) and will spend seven months paying it back, according to R3, the insolvency trade body.
Debt charity welcomes increased protection for homebuyers
Consumer Credit Counselling Service (CCCS) welcomes the ban on self-certified mortgages that has been proposed today (July 13) by the Financial Services Authority (FSA).
Brits show lax attitude to debt
With the Government focusing on reducing the nation's sovereign debt levels, research from moneysupermarket.com has revealed that, with total levels of personal debt standing at over £1,460 billion, some consumers are displaying a worryingly lax attitude to their own personal debt levels.
Brits rack up debt to get away this summer
Over 10 million UK adults going away this year (32%) are racking up debt in order to fund this year's summer holiday, a new survey by Bright Grey has found.
Debt charity sees rise in renters worried about eviction
The UK's leading debt charity, the Consumer Credit Counselling Service (CCCS), has seen a dramatic rise in calls from people in rented accommodation seeking help with eviction.
Struggling debtors risk snowballing debts
More than four in ten (44%) individuals who freely admit to struggling with their debt have not sought advice because they do not believe that their problem is big enough to need help, according to research commissioned by R3, the insolvency trade body.
Desperate times push nearly 70,000 towards loan sharks
As many as 67,000, or 7%, of those struggling with debts say they have already contacted a loan shark or doorstep lender, while a further 13% have considered doing so.