Archived News & Related Stories

Debt: 1 in 10 Britons permanently overdrawn
Research by moneysupermarket.com has revealed that one in 10 Britons are permanently overdrawn, the Guardian reports. ... >>

14m people take on credit card debt every day
According to a survey from moneysupermarket.com, more than 14m people are using their credit cards for day-to-day spending, with 20% carrying three or more cards, the Telegraph reports. ... >>

Average household debt `five times annual income`
The average household owes five times its annual income in debt, according to The Times. ... >>

Debt Freedom Day - a month earlier than last year
The `time people spend repaying their debts` has fallen by more than a month, the Telegraph reports. ... >>

Two thirds aim to be mortgage debt free by 50
According to research by The Co-operative Bank Mortgages, almost two thirds (62%) of mortgage holders are aiming to have repaid their mortgage debt in full by the time they reach 50, headlinemoney.co.uk reports. ... >>

Borrowers could be denied credit for not taking on debt since 2000
According to an article in The Times, `the details of millions of mortgages, bank accounts and credit cards that were opened or taken on before 2000 do not appear on credit reports`, which could affect the ability of thousands of borrowers to obtain credit. ... >>

Debt: repossessions climb to 14-year high
According to figures released by the Council of Mortgage Lenders (CML), the number of people falling behind with payments to their mortgage debt and being evicted from their homes has reached a 14-year high, the Telegraph reports. ... >>

4.5 million Brits plan to transfer credit card debt in the New Year
According to research by Santander Cards, more than 4.5 million Britons are planning to transfer over £3.2bn of debt between credit cards in the first three months of 2010, myintroducer.com reports. ... >>

Almost one million struggle without seeking debt help
According to insolvency trade body R3 (the Association of British Recovery Professionals), the recent insolvency statistics revealing record personal insolvencies are `just the tip of the debt iceberg`, as nearly one million people struggle without seeking debt help. ... >>

Debt news: personal insolvencies up by almost 25%
Figures released by the Insolvency Service have shown that the number of people declared insolvent in the final quarter of 2009 was almost 25% higher than it was a year earlier, the BBC reports. ... >>

British Gas cuts gas prices by 7%
British Gas has cut its standard gas prices by 7% with immediate effect, in a move that could convince other suppliers to follow suit. ... >>

Cost of mortgage debt payments fell 20% last year
According to the Woolwich, monthly mortgage debt repayments fell by 20% last year - from an average of £607 in December 2008 to £497 in December 2009, the Telegraph reports. ... >>