Archives for December 2007
Surf around for credit cards
Article Category: Debt Consolidation Help and AdviceCustomers should do more credit card ’surfing’ to find the best deals.If borrowers do not adopt this attitude they are literally "throwing money away", according to MoneyExtra.com.The comment by the financial advice website was made as a result of the announcement that the Royal Bank of Scotland (RBS) group […]
Brits slamming breaks on spending
Article Category: Debt Management Help and AdviceBrits are slamming the breaks on Christmas spending as less-easily available credit and higher living costs start having an effect.The credit crunch crisis seems to be filtering through to shoppers, as, according to research, they appear to be pulling in their horns this year.ICICI Bank has revealed figures showing […]
Lenders ‘targeting’ better-qualified
Article Category: Debt Management Help and AdviceLenders are "targeting" better-qualified people as a way of maintaining business levels during the current ‘credit crunch’ crisis.Property website FirstRungNow.com says that they are training their sights on graduates and "lower risk" borrowers as they are considered less likely to default on repayments.Specialist products have evolved to cater for […]
Banks ‘pressurising’ borrowers
Article Category: Debt Consolidaton Help and AdviceSome greedy banks are "pressurising" borrowers already in debt to take out additional loans, according to a leading consumer advice group.The Citizens Advice Bureau (CAB) says that although banks are probably aware of their customers’ situations they are still being bombarded with "aggressive" phone calls either demanding money to […]
Young debtors owe £12,790
Article Category: Debt Management Help and AdviceThe average amount owed by youngsters in debt aged between 18 and 24 is £12,790, according to new research.Figures revealed by the Consumer Credit Counselling Service (CCCS) show that 56.4 per cent of this debt consists of personal loans, 28.5 per cent credit card borrowing, 7.3 per cent overdrafts, […]
Household paying 20% of salaries on debt
Article Category: Debt Consolidation Help and AdviceThe spectre of a housing crash appears to be moving ominously closer with the news that households are paying more than 20 per cent of their gross salaries on mortgages and other debts.Research by the Bank of England (BOE) published in its latest quarterly bulletin shows this is the […]
Borrowing against property growing
Article Category: Debt Management Help and AdviceLess choice for borrowers in the loan market has seen a surge in people borrowing against the value of their properties, according to some product providers.Enquiries for equity release loans, sometimes seen as a last resort attempt to raise finance, have soared in recent months as more conventional loans […]
Don’t rush to pay off student loans
Topic: Debt consolidationArticle Category: Debt Consolidation Help and AdviceDebt-laden university graduates should not rush to pay off their student loans.Figures from the high street bank NatWest shows that, as the loans are probably the cheapest form of credit available, they would be wise, unless intending never to take out a loan again, not to pay […]
Tracker ‘nearly always better’
Topic: Debt managementByline text: Article Category: Debt Management Help and AdviceA tracker mortgage is "nearly always" better value for debt-laden borrowers than a fixed rate mortgage, according to a leading mortgage adviser.Ray Boulger, a senior technical manager at John Charcol, also said that it had been recommending trackers for a long time and they were […]
Poll tax lingers on
Topic: Debt managementByline text: Article Category: Debt Management Help and AdviceThe much-hated and long-gone poll tax has still got a sting in its tail with debt resulting from its non-payment still lingering on.Over 600 Lincoln residents were still being chased for it 16 years after its demise.Now the council has relented and decided to write […]