Loans
Better help for consumers in financial difficulty from payday loans
Payday lenders have agreed to improve their codes of practice to increase transparency and better protect vulnerable borrowers, Business Minister Norman Lamb announced today.
Catalogue debt warning
Debt advice charity the Money Advice Trust is reporting that its National Debtline took more than 25,000 calls for help from people with debts to catalogue companies last year, which is a record.
Rise of the ‘greyday' loans
Over 1.7 million grandparents and parents are being pushed into debt by ‘greyday loans'; the financial assistance they provide to their adult children and grandchildren, research from MoneySupermarket.com has found.
Rein in ‘payday lenders', say 93% of GB population
Changes need to be made in order to protect consumers from ‘payday loan' lenders, according to new research by insolvency trade body R3.
Struggling Brits caught in a payday loans debt trap
Over 60% of people who took out payday loans were using the money to pay for household bills or buying other essentials like food, nappies and petrol, a survey by Which? has revealed.
Sainsbury's Bank offers personal loan Price Promise Guarantee
Sainsbury's Bank is offering a Price Promise Guarantee whereby if any customer successfully applies for its standard personal loan but secures a better rate elsewhere with another provider, the supermarket bank will beat it.
5.9 per cent personal loan rate marks a five year low
The launch of a new personal loan rate of 5.9 per cent from Sainsbury's Bank for borrowing between £7,500 and £15,000 taken over 1-3 years, marks the first time rates have fallen below 6.0 per cent since September 2007.
borro sees 661% rise in property related loan applications
borro, UK personal asset lender, has seen a 661% rise in property related loan applications from customers, with one in seven enquiries to the business now related to a property issue.
Serious debt only starts at £14,416
Britons only see themselves in serious financial difficulty once they are in £14,416 worth of debt according to Bright Grey's latest financial safety net report.
How to deal with bailiffs: what they can and can’t do
Steve Rees, Managing Director of debt consultant Vincent Bond & Co, says: “When you think about a bailiff or debt collector coming to your door, you invariably conjure up visions of a burly bouncer who will use intimidating tactics to get money or personal items of value from you to pay off the debt you owe.
Derbyshire offers market leading personal loan
Derbyshire Building Society, part of the Nationwide Group, is offering a personal loan with a market-leading rate of 6.0% APR Representative for loans of between £7,500 and £14,999.
Only one in thirteen with debt concerns intend to seek advice
Although debt concern now affects over 18 million (39%) of GB adults, only 1.4 million individuals (or 3%) intend to seek debt advice in the next six months.
Debt problems affecting 70% of UK adults
Over two thirds (70%) of UK adults have admitted to having debt problems with almost a third of people (29%) not prepared to confront their debt issues according to new research released today by The Co-operative Bank.
OFT review into payday lending
The OFT has launched an extensive review of the payday lending sector. This is in part prompted by concerns that some payday lenders may be taking advantage of people in financial difficulty.
Have you been the victim of a #bailiffblag
Debt advice charity the Money Advice Trust is launching a week long (Monday February 6th - Sunday February 12th) initiative to encourage consumers to stand up for their rights against bailiffs.