Repossession orders increase
UK, July 27th, 2008 - A recent report has shown that there has been a 17% rise in the level of repossession orders in the UK in the space of a year.
First time buyers plan to make their very first property purchase abroad
UK, March 26th, 2008 - One third of all first time buyers plan to make their very first property purchase abroad. This particular statistic highlights two interesting facts about the lack of property affordability in the UK and about the increasingly strong desire felt by many Britons to expatriate and seek a new life abroad.
Should I be worried about my debts?
UK, March 21st, 2008 - Unfortunately, yes. While the mortgage market is bearing the brunt, banks also have to fund lending on credit cards and personal loans, so anyone with lots of debt is likely to be hardest hit.
Repossession fears increase
UK, March 19th, 2008 - There has been a 21 per cent increase in the number of repossessions in the UK over the last year, taking the total number to 27,100.
Debt burdened home owners face repossession
UK, February 13th, 2008 - The number of homeowners being repossessed may rise next year says the debt solution company DebtFC
Missed mortgage payments - debt concerns
UK, January 30th, 2008 - Missing a mortgage payment could cost borrowers even more than they think, depending on which lender they are with.
Mortgage rate to go below 5.5%
UK, January 15th, 2008 - Almost 70 per cent of mortgage brokers believe the Bank of England base rate will finish the year below 5.5 per cent, it has been claimed.
Payment protection insurance - reclaiming
UK, October 31st, 2007 - If you have a mortgage, a loan or a credit card then you may also have a Payment Protection Insurance policy (a PPI policy).
Open Door Solutions Scotland
UK, October 9th, 2007 - Open Door Solutions Scotland was very delighted to win best mortgage packager (Scotland) at the recent mortgage introducer awards and we would like to thank everyone who voted for us to win such a prestigious award.
House price slow down
UK, October 7th, 2007 - Evidence of a slowdown in house prices has come from the UK's biggest mortgage lender, the Halifax.
Increase in people seeking debt advice
UK, September 12th, 2007 - A record number of people have sought advice for help with unmanageable debts during the past year.
Teenagers are to take lessons in debt
UK, July 16th, 2007 - Teenagers will be given formal lessons in how to manage their debts, under sweeping changes to the curriculum to be announced this week.
Britons resist saving but take on record amount of debt
UK, June 29th, 2007 - Household budgets are showing signs of strain after it emerged Britons saved the smallest slice of their incomes since early 1960.
Debt CCJ's at at 10 year high
UK, June 04, 2007 - The number of County Court Judgments (CCJs) against consumer debtors has reached its highest level in almost 10 years, figures show.
Debt concerns - slow borrowing
UK, May 23, 2007 - Increasing financial concerns among UK consumers are contributing to a slight decline in borrowing, as people seek to reduce debt and prevent themselves from relying on loans.
DebtFC and "Wild Women" Talk 107 Radio
UK, May 14, 2007 - Last week I was invited on Talk 107 radio station “Wild Women” presented by Liz Clark and Hayley Matthews to discuss debt problems.
Debt culture 'forcing mothers into work'
UK, May 04, 2007 - High levels of debt in British society mean millions of UK households need two salaries to stay financially afloat, a survey has claimed.
Technology boost for debt agency
UK, May 03, 2007 - The Merthyr Tydfil family behind one of Britain’s most successful debt-and-fine collection agencies is using number plate recognition technology to drive its ambitions.
Mothercare has agreed to buy the Early Learning Centre for 85 million pounds including debt
UK, April 30, 2007 - Mothercare has agreed to buy the Early Learning Centre for 85 million pounds ($170 million), including debt, uniting two of Britain's best-known retailers that focus on children and parenting.
Debt-a-Holics find insane reasons to borrow
UK, April 27, 2007 - While most UK consumers are crying over their ‘mountain of debt,’ many debt counsellors are noting that many adults are spending on luxury items regardless. On one side of the fence are those who are borrowing money to pay council taxes or heating bills. Borrowing a loan to pay for an ‘expendable purchase.’
A quick sale at Rent-It-Back
UK, April 25, 2007 - Where a speedy sale is important, Rent-It-Back make every effort to complete the sale as quickly as possible on behalf of our clients.
Excessive levels of household debt pose a serious threat.
UK, April 24, 2007 - Consumers must rein in their borrowing levels if a downturn in the UK economy is to be avoided, a report has warned. The report advised that the strong UK economy rests upon shaky foundations, with excessive levels of household debt posing a serious threat.
The 'friends’ generation are the UK’s biggest debtors
UK, 22 April, 2007 - 18 to 30s are much less reliant on credit – but they are far less likely to get on the housing ladder. The ‘Friends’ generation – those in their early 30s – have the highest borrowing of any age group and they also have a tendency to miss repayments.
EMI uses catalogue to reduce debt cost
UK, April 20, 2007 - EMI hopes to shave £5m a year from its £100m annual interest bill by borrowing cheaply against the deep royalty streams of songs such as Blue Moon and Imagine.
Debt not a worry for interest - only first time buyers
UK, April 17, 2007 - One-in-five first-time buyers took out an interest-only mortgage with no specified repayment vehicle last month, a four-fold increase from five years ago, the latest figures from the Council of Mortgage Lenders (CML) have shown.
“Stealth Tax” - that will saddle every man, woman and child in Britain with a debt of £1,700.
Uk, April 16, 2007 - Gordon Brown is being forced to come clean over a “stealth tax” that will saddle every man, woman and child in Britain with a debt of £1,700.
Millions fail the debt cover test
UK, April 13, 2007 - Millions of UK adults do not have adequate life insurance to cover their debts, even though this is one of the easiest financial problems to deal with.
Rising debt 'bad for house market'
UK, April 11, 2007 - Threats of a housing "boom and bust" should not be dismissed amid rising personal debt and risky lending by some mortgage firms, a report has warned.
'Debt crisis' facing UK pensioners
UK, April 09, 2007 - In the future, more of the UK's pensioners could need debt consolidation options such as an IVA, or a Trust Deed as they are increasingly finding themselves in financial trouble, suggests DebtFC.
DebtFC advice - Look out your dormant bank accounts this Easter
UK, April 08, 2007 - Banks are making a determined effort to encourage customers to reactivate old accounts ahead of plans by the government to use money in accounts that have not had any transactions for 15 years for community purposes.
Credit Card Company loss of £1.5 billion in bad debt
UK, March 28, 2007 - Credit card companies are getting tough with up to 2.8 million people seeing applications turned down in the past six months, shock new research reveals.
Concerns re level of debt being taken on by private equity firms
UK, March 27, 2007 - A quarter of the AA's staff have been axed since the 2004 takeover. Trade union leaders are to hold talks with bosses at top private equity firm Permira over demands for changes to pay and working conditions at the AA.
Women in UK incur huge debt through unsecured personal loans
UK, March 25, 2007 - Women in UK incur huge debt through unsecured personal loans which they spend on shopping and fashion.
Beware low rate, high fee mortgages
UK, March 24, 2007 - Homeowners have been warned to beware mortgages with low interest rates, but exorbitant fees. In recent weeks a string of lenders have launched home loans with cheap interest rates, but with fees running into thousands of pounds.
One in five lenders unsure - Interest only mortgages
UK, March 23, 2007 - Interest-only mortgages can save borrowers money on a monthly basis though one in five lenders refuse to offer them, recent research reveals.
Brown May Boost Debt for Health and Education
UK March 21, 2007 - Chancellor of the Exchequer Gordon Brown, in what probably will be his final budget, may borrow 6 billion pounds more than he forecast four months ago to fund health and education spending, an economist survey shows.
More over - 60s in debt as they reach retirement
UK, March 20, 2007 - The baby-boomer generation is running in to debt as its members enter retirement, figures showed yesterday. The number of over-60s with money worries grew faster than any other age group last year.
Barclays take stance against bad debts
UK, March 17, 2007 - For the first time the number of people in the UK seeking insolvency in 2006 broke the 100,000 barrier, illustrating the high consumer debt level problems that have emerged, with nearly one and a half trillion pounds worth of consumer debt in total.
Fixed rate mortgages in record numbers
UK, March 14, 2007 - First-time house buyers are flocking to fixed rate mortgages in record numbers over fears of an imminent increase in borrowing costs, according to data compiled by the Council of Mortgage Lenders (CML).
Ads not allowed to depict gambling as a solution to a person's debt
UK, March 13, 2007 - In September of this year (2007) the UK will see the implementation of the Gambling Act that was passed in 2005. The law allows gambling operations to operate online and it also lifts a lifelong ban on TV and radio advertisements for gambling in general.
UK opting for homeowner loans over credit cards
UK, March 11, 2007 - According to recent figures more and more people in the UK are looking to borrow money in the form of secured finance rather than borrowing on credit cards.
Interest rate rises put pressure on UK's debt
UK, March 07, 2007 - The increases in interest rates are making the UK's consumers more concerned about their future finances, according to a new survey.
Subprime mortgage defaults fears
UK, March 06, 2007 - The collapse of the giant US subprime mortgage sector gathered speed on Monday as shares in several leading lenders plunged and HSBC said it would take at least two years to fix its portfolio of bad home loans in the US.
Scots students will graduate with a lesser degree of debt, says Executive
UK, March 03, 2007 - Students are graduating from Scottish universities with debts averaging £7,561, £500 less than their English counterparts, figures revealed yesterday. However, they also showed student credit card debt, overdrafts, and commercial loans were all rising in Scotland.
Mortgage lenders will repay tens of millions of pounds paid by homeowners in “unfair” mortgage exit fees
UK, March 01, 2007 - Most banks and building societies said yesterday that they would compensate millions of borrowers over exit fees, levied when they moved to a rival lender.
Bank Charges - Payouts may be cut. Act Now!
UK, February 28, 2007 - Bank Charges Reclaiming. Payouts may be cut. Act now! In April, the Office of Fair Trading will give its opinion on the appropriate amount for bank charges.
Six million Brits take out debt consolidation loans
UK, February 27, 2007 - More than six million UK residents have taken out debt consolidation loans in the last three years, new figures reveal. Data shows one adult Briton in seven has decided to bring their debts together in an effort to lower their monthly payments with the average debt consolidation loan standing at £13,000.
Glasgow fashion spending second top in UK
UK, February 26, 2007 - It may not be sweet music to the ears of spouses and partners of women in Scotland's biggest city, but a new survey has revealed its fairer sex are ranked among the highest spenders on fashion in Britain.
Pre-pay card to go on trial in Liverpool
UK, February 24, 2007 - The high levels of consumer debt in the UK have resulted in many people seeing their credit rating go through the floor as a result of being unable to keep up with repayments on loans and credit cards, and for many this means being unable to enjoy the convenience and ease of debt or credit card facilities, and in some cases being unable to open a bank account.
8 0ut of 10 UK home mortgages now have terms more than 25 years
UK, February 21, 2007 - As little as two decades ago, the longest repayment term any UK home mortgage lender would give you on your UK home mortgage loan was 25-years. According to a new report published by Moneyfacts.co.uk, one in four UK mortgage lenders will now offer you repayment terms spread over 40 years or more, and as many as 8 out of ten lenders now offer maximum mortgage repayment terms in excess of 25 years.
Banks to write off record £6.6 bn of bad personal debt
UK, February 20, 2007 - Barclays is expected to announce that it is writing off a record £1.67 billion because of defaulting British consumers as it reports its full-year results today.
Bankruptcy or IVA? With creditors at the door, take the right escape route
UK, February 18, 2007 - Insolvency is on the increase. Almost 30,000 people in the UK entered into bankruptcy or an individual voluntary arrangement (IVA) during the last three months of last year - nearly 300 a day. That was 60 per cent more than in the same period in 2005 and 7 per cent up on the previous quarter, according to figures from the government's Insolvency Service.
Older males 'have large debts' in UK
UK, February 17, 2007 - According to recent research older British men have the worst debt problems. There has been a boom in demand for debt advice for older people in the past year, with a 65 per cent increase in clients.
Fear of debt lead to a drop in number of Scots in postgraduate courses
UK, February 15, 2007 - The number of Scots students taking postgraduate courses has slumped since devolution. Official figures show there were 10,205 students on postgraduate courses in 1999-2000, but the figure had fallen to 9,640 by 2004-5 - down 6 per cent.
Teenage attitudes towards debt
UK, February 13, 2007 - Educational charity the ifs School of Finance the only provider of GCSE, AS and A level equivalent qualifications in Personal Finance, has welcomed the results of a survey into young peoples views on debt and money in general.
Refund bank charges - DebtFC 100% success rate
UK, February 10, 2007 - Get a refund on your unfair bank charges now. Direct debit or cheques returns, slipping into the red, going into your overdraft or late payment fees. Did you know you can claim back these unfair charges back for the last 6 years?
One million bills missed in January
UK, February 7, 2007 - Christmas spending and an early salary payment in January, says MoneyExpert.com. The financial comparison site predicts that many of the 1.145 million bills will remain unpaid well into February.
Tynecastle debt rises to £28.4m
UK, February 6, 2007 - Debt has risen since Vladimir Romanov took charge at Hearts. Hearts have notified shareholders that the club debt has risen by £6.9m to £28.4m in the last year.
In majority shareholder Vladimir Romanov's first year in charge, the club has posted losses of £5.2m for the year to the end of July 2006.
Repayment warning on 0% credit card deals
UK, February 5, 2007 - Consumers hunting down cheaper credit cards could be stung for hundreds of pounds if they miss a repayment, research showed today.
Mortgage repossessions up by 29 per cent
UK, February 4, 2007 - The number of Britons plunging into insolvency broke the 100,000 barrier during 2006 for the first time in the worst ever year for the country's "debt crisis".
Debt crisis grows as 100,000 declared insolvent
UK, February 2, 2007 - Britain’s spiralling debt crisis reached new levels today as figures showed that more than 100,000 people declared themselves insolvent last year.
Scottish and Southern energy to cut prices
UK, January 31, 2007 - Scottish and Southern Energy has written to its seven million domestic customers to confirm that it will cut gas and electricity prices "within the next few months".
Report exposes banks tactics to avoid penalty refunds
UK, January 30, 2007 - Consumer watchdog Which? has accused unnamed UK banks of employing 'underhand' tactics in an attempt to avoid refunding consumers who have contested their overdraft charges.
Founder to "buy back debt - hit Focus"
UK, January 29, 2007 - The founder and chairman of DIY giant Focus is understood to be planning a bid to buy back the chain as it struggles to overcome a £280m debt mountain.
Households rise above higher level of debts
UK, January 27, 2007 - Household money woes have not worsened in recent years despite increased levels of debt, a think tank has reported. The Institute for Fiscal Studies (IFS) says that financial difficulties are not as bad as are often painted, although for low-income families, access to high-quality credit remains a problem.
Two million evading road tax in the UK
UK, January 26, 2007 - The number of people not paying their road tax has topped two million. According to figures released by the Department for Transport, an estimated 2,193,000 drivers failed to pay their vehicle excise duty last year, up from 1,549,000 in 2005.
Good saving habits undone by lingering culture of debt
UK, January 23, 2007 - In the third quarter of 2006, the UK tucked away almost £32 billion according to new figures from Unbiased.co.uk.
Out of university and straight into debt
UK, January 21, 2007 - The years between 18 and 30 are meant to be carefree, but a record number of young adults are full members of Club Debt.
Personal debt is growing by £1m every 4 minutes
UK, January 18, 2007 - The personal debt mountain is increasing by £1 million every four minutes, experts have warned. Huge mortgages are mainly to blame for the soaring levels of debt, with the average size of a new home loan now £142,000.
Over 50 families a day lose their home in the UK
UK, January 16, 2007 - According to new data released by the Royal Institution of Chartered Surveyors, more than 50 families a day will lose their homes in the UK during 2007 because they can no longer maintain their debt repayments.
Housing equity significantly outweighs UK mortgage debt
UK, January 15, 2007 - Over the last five years the UK housing market has seen such dramatic growth that the value of the country’s private housing stock has now risen to a staggering £3.8trillion.
Banks expect debts to shoot up in the first quarter of the year
UK, January 13, 2007 - Banks and building societies are expecting debts to soar in the first three months of the year, as financially struggling borrowers face tremendous monetary strain.
Tenants owe more than their annual income
UK, January 05, 2007 - According to a research by the Bank of England, nearly one in ten non homeowners who have taken unsecured loans owe more than their annual income.
Christmas credit card debt warning
Consumers who have added to their credit card debt in the run-up to Christmas are being urged to take action now before it is too late.
Debt warnings show sign of hitting home in UK
Concern that the UK’s “debt crisis” was spiralling out of control increased in 2006 with a record number of people failing to keep their heads above water.
Doorstep lenders must share borrowers credit records
Britain's controversial doorstep lending industry has been ordered to start sharing customer data to bring down charges.
Debt levels worse among older age group
People aged between 40 and 59 have the highest levels of debt - owing an average of £34,456 - with their numbers increasing at a faster rate than any other group, research from the Consumer Credit Counselling Service reveals.
More households struggle with mortgage payments
The number of households struggling to repay their mortgage debt has risen, according to figures released today by the Bank of England.
The Bank's quarterly bulletin revealed that 7.7% of homeowners reported problems paying for their accommodation.