Archives for 2 July 2007
Money laundering ‘adds to personal debt’
Britons could be adding to their personal debt by destroying cash and belongings in the wash, it has emerged.
Figures published by Halifax show that in the past 12 months, £163 million of currency was irreparably damaged in washing machines.
A further £251 million worth of mobile phones and mp3 players valued at £13 million add […]
Interest rates ‘adding to bad debt’
Interest rates are creating bad debt problems for some UK households, research indicates.
Figures compiled by financial analyst MoneyExpert show that 7.4 million households have missed a bill payment in the past six months.
The study comes ahead of the Bank of England’s base rate decision on Thursday, July 5th, where it is widely expected that […]
Students ’should find debt management solution’
Students should find a suitable debt management solution once they enter employment, it has been suggested.
According to the Consumer Credit Counselling Service (CCCS), student debt can pose a problem long after graduation.
The service advised recent graduates to find a debt management solution which is well suited to their employment situation.
Spokesperson Frances Walker explained: “It […]
Costly gifts ‘can add to personal debt’
Expensive gifts for loved ones can increase levels of personal debt, it has been warned.
Figures published by MoneyExpert show the average Briton spends £744 a year buying presents for their partner.
And while the financial analyst recognises there are other causes of personal debt, consumers are advised to check that their expenditure does not add […]
‘More utility switching’ to tackle debt
More Britons should switch energy suppliers as a means of tackling their debt, it has been suggested.
According to uSwitch.com, the majority (51 per cent) of households have now switched provider at least once.
The service indicates that this has led to increased competition in the market as suppliers attempt to retain customers.
Consumer policy director Ann […]