Archives for December 2007
Be wary of going into red
Article Category: Debt Management Help and AdviceMany current account holders must be wary of going overdrawn, as they may be charged interest on their overdrafts.According to financial comparison website MoneyExpert.com, nearly 40 per cent of all current accounts on the market offer an interest-free limit, however less than half of that number will automatically set […]
Don’t mention the R-word
Article Category: Debt Management Help and AdviceThe UK economy is heading for a slowdown and not the R-word, according to the Institute of Directors (IoD).In is 2008 UK economic forecast, published today, it says the economy is entering a period of ’stickyflation’ - a period of weaker growth and sticky inflation as opposed to a […]
Credit card rates on the rise
Article Category: Debt Consolidation Help and AdviceCredit card interest rates look set to rise as companies try to recoup profits lost as a result of the credit crunch.According to financial information organisation, Moneyfacts, there were 125 increases in rates and fees on various credit cards in the two months preceding November 2005.It also says that […]
Act now to cut debt
Article Category: Debt Management Help and AdviceWith the Christmas orgy of spending over it’s time to take stock of any expensive debts and cut back on outgoings now.According to the MSN Money website, over £50 billion was spent using cards, cash or cheques in December last year.That amount of spending, it says, can leave many […]
Brits rein back on new year spend
Article Category: Debt Consolidation Help and AdviceThe average Brit will be reining back on their spending on New Year’s Eve, splashing out only £30.Fool.co.uk, a personal finance website says it has conducted a study revealing over 71 per cent of people will spend hogmanay at home with their nearest and dearest and only two per […]
‘About half’ of loan applications declined
Article Category: Debt Consolidation Help and Advice"About half" of all personal loan applications are being turned down as a result of the credit crunch, according to a money education charity.Credit Action says the situation has resulted in a tightening of lending criteria as lenders become more risk averse.They also warn that more applications for credit […]
Merry Christmas and a lethargic new year
Article Catergory: Debt Mangement Help and AdviceNew year lethargy will set in regarding buying houses unless you are a first-time buyer or an investor, according to a survey by a property information website.Propertyfinder.com says that, according to a ‘resolutions’ survey it carried, out respondents were less likely to move up the housing ladder in 2008 […]
Chelsea debt wiped out
Article Category: Debt Management Help and AdviceAfter years of being in hock to the banks Chelsea can finally claim to be free of debt.Billionaire proprietor Roman Abramovich this week finally paid off the remaining £36 million outstanding on a Eurobond, initially taken on by previous owner Ken Bates to help him purchase the club, the […]
Loan debt total hits £1,391 billion
Article Category: Debt Consolidation Help and AdviceTotal UK personal debt as at the end of October 2007 stood at a mind-boggling £1,391 billion.Research by business solution experts Equifax revealed figures showing the growth rate increased to 9.7 per cent for the previous 12 months - a rise of £122 billion.It also shows that the average […]
Not all ‘doom and gloom’ if facing repossession
Article Category: IVA (Individual Voluntary Arrangement) Help and AdviceThe threat of repossession is not a "doom and gloom" situation if borrowers take adequate measures early enough.There are "options" available to struggling homeowners behind on their mortgage repayments but they must not act as if it is not happening, the Repossessions Advice Centre said today.Director Paul […]