Archives for 2 October 2007
Risk of consumer debt ‘considerable’
Article Category: Debt Management Help and Advice
There is a “considerable” risk of consumers taking on more expensive forms of debt following an Office of Fair Trading (OFT) consultation, it has been warned.
Proposals outlined in the OFT’s approach to consumer credit licences could see some lenders withdraw from the market, according to the Association of Finance […]
Britons ’seek accessible alternatives to pensions’
Article Category: Debt Management Help and Advice
Many consumers are reluctant to invest in a pension as they would not have access to the money until they retired, it has been claimed.
Ian Naismith, head of pensions at financial services provider Scottish Widows, suggests that there are alternatives to traditional schemes.
Such products could allow Britons to access […]
IVAs ‘help debtors to move on’
Article Category: IVA (Individual Voluntary Arrangement) Help and Advice
The security afforded by an IVA helps debtors to get on with their lives, according to an industry spokesperson.
Nick O’Reilly, vice-president of R3 - the Association of Business Recovery Professionals - warns that there is “never ever a release” from debts which are frozen.
But by obtaining an […]
Consumer debt growth ’slowed in August’
Article Category: Debt Management Help and Advice
The rate at which consumer debt is growing slowed by about 0.2 per cent in August, according to the Bank of England.
In a statistical release, the Bank reveals that quarterly and year-on-year growth in net lending fell by the same figure, to 9.2 and 9.9 per cent respectively.
However, consumer […]