Posts Categorized: Money Management

Young People Drowning In Debt

drowning in debt

A new report from Citizens Advice has revealed the startling extent of the unsecured debt problems that are plaguing our nation’s youth. The charity has seen a 21% rise in requests for help from the 17 to 24 age group over the last year, and estimates the average amount owed at £12,215 – more than… Read more »

Have You Been Left In The Red By An Ex?

ex partner debt

New research by price comparison service uSwitch.com has revealed that around 2 million British consumers have been left in debt by their ex-partner after a relationship came to an end. The survey of around 2,000 people also found that many consumers aren’t taking enough precautions to protect their finances and credit rating from potential abuse… Read more »

Soar In Demand For Debt Advice

money advice soars

New figures released by the Money Advice Service have revealed that consumer demand for advice on dealing with debt soared to an all-time high last year. The service, which was set up by the Government but is run independently, provided more than 250,000 free debt advice sessions to British consumers in the 2014/15 financial year…. Read more »

Suffering A Post-Christmas Debt Crisis?

post christmas debts

Christmas is the season of goodwill and festive cheer – but it’s also the season of overspending. It’s all too easy to have a fantastic Christmas on credit…the hard part is paying it all off in the New Year! This article from debt advice specialists, Bankruptcy Clinic, will help you get back control of your… Read more »

Trouble Ahead When Interest Rates Rise

The Bank of England has said that half a million UK homeowners could struggle to keep up with their mortgage payments if interest rates start to rise. The base rate has now been at a record low of 0.5% since March 2009, to help debt-ridden consumers cope with the recession. However, now that economic recovery… Read more »

Quarter Of UK Credit Card Holders Having Payment Problems

A survey commissioned by the Debt Advisory Centre in November 2014 has found that almost 25% of credit card holders in the UK are finding it hard to make the minimum payments on their cards, or to pay anything at all. Carried out by OnePoll, the research involved 2,000 UK adults, including 636 Scottish residents…. Read more »

Festive Food Costs To Cause Debt Misery?

A debt advice charity has revealed that forking out for festive food could push a fifth of British consumers into the red this Christmas. In a recent survey, the Money Advice Trust (MAT) found that 21% of people polled were planning to use credit to fund their seasonal food shop, or had already done so…. Read more »

Insolvency And PPI Claims

If you’ve been mis-sold Payment Protection Insurance (PPI) with a loan or other form of credit in the past, then you’re entitled to claim it back. However, if you’re currently subject to a form of personal insolvency, things become a little more complicated. This article from debt advice experts Bankruptcy Clinic gives an overview of… Read more »

Government Predicts Rise In Household Debt

New figures published by the Office for Budget Responsibility (OBR) predict that levels of household debt in the UK are set to soar above pre-recession levels. Released alongside the Chancellor’s Autumn Statement, the OBR’s report estimates that over the next five years, the ratio of household debts will increase to 184% of incomes – 15%… Read more »

The Hidden Health Costs Of Being In Debt

Health professionals have long believed that there are strong links between being in debt and having, or developing, mental health problems. It’s easy to see how a person who can no longer cope financially with their debts can become worried, anxious and depressed about their financial problems. Feelings of guilt and hopelessness are also common…. Read more »