Archives for February 2008
Over-60s face £43,760 of debt
Article Category: Debt Management Help and AdviceBorrowers in their early 60s have the highest unsecured debts of any age group, with the average amount standing at £43,760.According to online personal-debt solutions firm Newtomorrow.com, this compared with the average caller to its helpline who was aged 41 and owed £30,334.The 66 and over age group had […]
Amnesty declared for debtors
Article Category: IVA (Individual Voluntary Arrangement)An ‘amnesty’ between banks and the sellers of formal debt means that some hard-pressed borrowers will find it easier to pay off their loans thanks to a resolution of an on-going row in the debt management industry.People who are unable to pay off debts but are unwilling to file for […]
Credit seekers should only window-shop
Article Category: Debt Management Help and AdviceBorrowers looking to take out credit should only window-shop as far as store cards are concerned.That is the advice from debt consultancy firm Thomas Charles.It advises anyone who is considering taking one out to "think very carefully" about it.According to recent research by price comparison website uSwitch, shoppers with […]
Young, free and with lower debts
Article Category: Debt Management Help and AdviceSingletons tend to be young, free and have lower debts than their coupled-up counterparts, according to a survey.Research undertaken by personal finance website Fool.co.uk has revealed single Brits are financially better off than those in a relationship to the tune of £3.7 billion.The figures reveal that the average Brit […]
Homeowners securing themselves
Article Category: Debt Management Help and AdviceHomeowners looking for larger amounts of cash are turning to secured loans for the best interest rates.According to new analysis by price comparison website MoneyExpert.com, the average APR on a £15,000 unsecured loan is around 8.44 per cent.However, borrowers who are willing to use their property as collateral can […]
A bridge over troubled financial waters
Article Category: Debt Management Help and AdviceA bridging loan can help someone with short-term financial troubled waters, according to a financial information magazine.Lee Tillcock, editor of Business Moneyfacts said that this type of loan, which enables property-buyers to purchase another house before selling their old home, could also be used by property developers looking to […]
Mum is the financial word
Article Category: Debt Management and AdviceMum is the financial buzzword at present going round corridors of the Financial Services Authority (FSA).Hard-pressed mothers trying to juggle household budgets are set to be given a helping hand by the watchdog.Women in the early stages of pregnancy will be handed packs on how to manage their money.They will […]
Kids miss out as budgets are stretched
Article Category: Debt Management Help and AdviceKids are increasingly missing out as financial budgets are stretched, according to a survey by an insurer.Engage Mutual has undertaken research, which paints a worrying picture of hard-pressed parents struggling to make ends meet, with fears of a recession cutting amounts of money spent on their offspring.According to the […]
Controversial mortgages withdrawn
Article Category: Debt Management Help and AdviceTwo mortgage lenders have today announced they will be withdrawing controversial mortgage products.Alliance & Leicester has announced it will reel in its PlusMortgage and Coventry Building Society said it was no longer going to offer the MOREgage range.These types of mortgages, which combine a mortgage with a personal loan, […]
Bankruptcies on the rise
Article Category: Debt Management Help and AdviceBankruptcies in the Greater Manchester area rose by five per cent last year, according to official figures released by the Ministry of Justice.They show that 2,292 people declared themselves bankrupt last year.This was in line with the general trend in the country as a whole and experts are warning […]