Archives for March 2007
People with joint debts ’should inform creditors’
Divorced couples who have shared debt should inform their creditors about their position, according to one expert.
Chris Tapp, associate director of Credit Action, states that individuals are often faced with the entirety of a couple’s debt since the accounts are only in opened in one person’s name.
Mr Tapp advised people that whenever there is […]
Parents ‘keep mum about money’
Parents are not tackling the subject of finances with their children, according to latest research.
Data from moneysavingexpert.com suggested that parents are not comfortable in discussing money matters with their children, because they are put off by their children’s attitudes towards finances.
Common fears were coming across “like a nag”, which was expressed by 48 per […]
Single parents ‘unable to save’
Though the chancellor’s latest budget saw an increase in child benefit and an improvement in child tax credits, single parents in the UK are finding it increasingly difficult to save money, new research has found.
According to a study undertaken by Engage Mutual Assurance, single parents are managing to save, on average, £122 per child […]
‘Lenders get tough on credit cards’
With bad debt within the UK having steadily risen over the past few years, increasing numbers of credit card applications are being rejected by lenders, a recent study has revealed.
According to statistics released by the financial comparison website MoneyExpert.com, around 2.8 million card applications were rejected over the course of the last six months, […]
Consumers ‘missing out on the joys of credit cards’
Shoppers in the UK are not reaping the benefits of credit cards, according to latest research.
Nearly half of people under the age of 30 own credit cards that do not provide perks, according to research from Goldfish.
Additionally, 53 per cent of those over-50 do not hold credit cards that have a reward scheme.
Charlotte Hogg, […]
Britain’s poorest ‘hit worst by inflation’
The most financially vulnerable British citizens are being hit hardest by current inflation rates, according to reports.
A study from the Alliance Trust Research Centre showed that inflation for the poorest members of British society has been 34 per cent higher than measures, such as the consumer price index, would suggest.
Moneyhighstreet.com reports that households with […]
3.5m victims of online fraud in 2006
More than 3.5 million people were victims of online fraud last year, according to latest research.
Data from the Get Safe Online campaign suggests that the average money lost to internet fraudsters was about £875 in 2006.
Tony Neale, managing director of Get Safe, states that consumers should treat the internet with the same amount of caution […]
Consumer savings ‘hampered by debt’
Last year was a record for consumer savings, though the good work could be undone by rising debt, according to research.
About £136 billion was saved in 2006, which is a rise of £25 billion on the 2005, suggests a study from unbiased.co.uk.
However, the company adds that the increase in savings has coincided with a […]
Elderly heading for ‘mortgage timebomb’
Pensioners in the UK could be heading towards a £98 billion mortgage “debt time-bomb”, according to research.
Data from Key Retirement Solutions found that a quarter of people are taking mortgage debts of more than £98 billion collectively, which amounts to an average of £31,000 per head.
The survey estimates that average debt among mortgage holders […]
Caerphilly branded a “personal finance disaster”
Caerphilly has been declared a “blackspot” for personal finance, after research revealing the amount of consumer debt afflicting the town.
A survey from internet directory service locallife.co.uk found that Caerphilly has more debt collectors and insolvency practitioners per capita than almost anywhere in the UK.
Tony Martin, chairman of the website, told the Western Mail that […]