Archived News & Related Stories

What happens once my IVA is approved?
If you`re struggling with unmanageable debt, an IVA (Individual Voluntary Arrangement) could be right for you. ... >>

Consumers could clear debts with disposable income
The average family was £12 a week better off in June, compared with the same time last year, as cuts in interest rates helped boost disposable incomes, according to new research from ASDA. ... >>

Families in poverty turn to `expensive` debt
According to research by children`s charity Barnardo`s, families living in poverty have to take on `expensive and unaffordable` debt in order to survive. ... >>

IMF warns of rising defaults on credit card debt
The International Monetary Fund (IMF) has warned that Britain`s credit card debt `crisis` will get considerably worse in the months ahead `with a wave of consumer payment defaults`, The Telegraph reports. ... >>

Debt problems `being experienced by all ages`
People of all ages are being affected by debt problems as a result of the ongoing recession.... >>

Shoppers opt for budget products
A recent study suggests that shoppers are swapping more expensive eco-friendly, Fairtrade and organic goods for cheaper products, in an attempt to save money, The Guardian reports. ... >>

Home energy debts partly due to complicated bills
Uswitch.com has claimed that almost half of all households may be paying too much for their gas and electricity because the bills are too complicated to understand, according to The Telegraph. ... >>

Britons avoid debt by `cutting up` credit cards
Around 2 million Britons have cut up their credit cards in the past year to avoid spending too much and falling into debt, The Independent reports. ... >>

Retail sales up again as debt fears ease
June saw a 1.2% boost in UK retail sales, according to new statistics, suggesting that consumers` cautious outlook in recent months may be improving. ... >>

Consumers `reluctant to take on more debt`
Many consumers in the UK do not wish to accrue more debt, it has been suggested.... >>

Unemployment fears reduce `debt-fuelled` spending
According to figures from the Finance & Leasing Association (FLA), consumers are `shunning debt-fuelled spending sprees amid fears over unemployment`, the Press Association reports. ... >>

Nearly 1 million people forced to work part-time
According to figures from the Office for National Statistics (ONS), between March and May this year, 927,000 people were working fewer than 30 hours a week because they couldn`t find full-time employment, The Telegraph reports. ... >>

CML: Mortgage lending up in June
Mortgage lending in the UK rose in June, according to figures produced by the Council of Mortgage Lenders (CML).... >>

Many parents `concerned about mortgage repayments`
A considerable number of parents in the UK are reporting stress due to financial concerns.... >>

Fuel poverty `to increase`
The Government`s Fuel Poverty Advisory Group has suggested that a `clear plan` should be set out to reach the target of eliminating fuel poverty by 2016, The Telegraph reports. ... >>

European car sales `beginning to recover`
New statistics for June have shown a rise in the number of new car sales across Europe, according to the BBC. ... >>

Banks should up mortgage lending, consumers say
Consumers want banks and building societies to increase their mortgage lending, it has been found.... >>

Debt `could still be our undoing`
The economy may be returning to growth, but debt - both public and private - could still `be our undoing`, The Telegraph reports. ... >>

Two in five `not seeking mortgage debt help`
Two in five people (41%) facing difficulty with paying their mortgage are failing to seek debt advice, according to research. ... >>

High demand for free debt advice
Redbridge, London, would be one of the `worst-affected boroughs in the capital` if free debt advice wasn`t available, thisislocallondon.co.uk reports. ... >>

Low base rate good for many people in debt
The Bank of England`s Monetary Policy Committee (MPC) today announced it was keeping the base rate at the historic low of 0.5%. ... >>

Hunts: Downturn bottomed out but personal debt still high
The economic downturn seems to have bottomed out, but `the personal debt crisis may still have a long way to go`, The Hunts Post reports. ... >>

Stay-at-home students `could avoid student debt`
Students who stay at home during their studies could avoid getting into debt, under new plans being considered by the Government, The Guardian reports. ... >>

Youngsters taught about debt
Youngsters at East Specialist Inclusive Learning Centre (SILC), John Jamieson School & Technology College, have learnt skills such as budgeting and debt management through a new interactive financial capability programme, seacrofttoday.co.uk reports. ... >>

High demand for free debt advice
Redbridge, London, would be one of the `worst-affected boroughs in the capital` if free debt advice wasn`t available, thisislocallondon.co.uk reports. ... >>

Over-50s fear pension won`t be enough
According to insurance group Aviva, the findings from the Aviva Cost of Family Care study suggest that 62% of over 50s worry that their pensions and savings won`t be enough to see them through retirement. ... >>

Workers risking debt by not saving enough for pension
A new report by Scottish Widows has claimed that many people are still not saving enough for an adequate income in retirement, according to The Guardian. ... >>

Economic optimism `leads Brits back to debt`
Research from Unbiased.co.uk suggests that Britons are becoming more confident about borrowing as `green shoots of recovery` start to appear. The first quarter of 2009 saw £2.7 billion of new debt taken out, with Britain`s savings levels sinking to £14 billion. ... >>

Cost of housing down 17%
A report by Halifax suggests that the average annual cost of owning and running a home in the UK fell from £8,766 to £7,298 between 2008 and 2009 - a drop of £1,468 (17%). ... >>

Savers `should not make sacrifices to maintain lifestyle`
Insurance company LV= (Liverpool Victoria) has advised consumers not to sacrifice insurance and savings in order to maintain their current lifestyle, according to Moneyfacts.co.uk. ... >>

Debt: credit card customers `receive £8.8bn unrequested credit`
As the Government revealed new measures to help people facing debt problems, including banning credit card cheques, price comparison site uSwitch.com has claimed that 5.7 million people have had their credit card limit raised without their consent in the last 12 months. ... >>

New rules focus on limiting debt
Credit card companies are to be told to stop `luring` customers into higher borrowing, The Times reports. ... >>

Rising unemployment `to cause rise in debt problems`
The rising level of unemployment in the UK is to lead to an increase in debt problems.... >>

CML `overestimated repossession risk`
The Council of Mortgage Lenders (CML) has revised its prediction of the number of repossessions likely to take place this year, having admitted that it overestimated the amount in an earlier forecast. ... >>

Debt: rise in bankruptcies amongst over-45s
New research has suggested that the over-45 age group is experiencing a significant rise in the number of people going bankrupt. ... >>

Londoners` personal debt increases
Financial advice partnership Capitalise has reported a sharp increase in the average level of debt amongst Londoners seeking debt advice, according to The Guardian. ... >>