Debt & IVA News
Increase in bankruptcies and IVAs predicted
25 Jul 2008 at 11:45am
More British people will declare themselves bankrupt or take out an Individual Voluntary Arrangement (IVA) in the coming year, according to 70 per cent of insolvency practitioners.
A total of 68 per cent expected an increase in the next six months, the survey by R3, published by the Press Associ...
Householders urged to address 20% energy price hike
25 Jul 2008 at 11:40am
Household energy bills will rise by 15 to 20 per cent in September, comparison site Xelector has said.
A further increase of 20 per cent is also predicted for early next year.
Commenting on the findings, financial website Fool.co.uk has recommended homeowners contact their energy providers and c...
NS&I: British savers do not understand inflation
24 Jul 2008 at 7:08am
People have been urged to put money aside for an uncertain financial future, but many are unaware of the effects inflation and tax may have on their savings, a new study has shown.
According to NS&I, nine per cent of people have no understanding of inflation, while nearly a third (31 per cent) sa...
Credit card price hikes ?not fair? for consumers
24 Jul 2008 at 7:07am
The annual percentage rate (APR) has gone up on nearly a third of credit cards in the past year, new research has shown.
Moneysupermarket said some of the big credit card companies – Egg, Lloyds TSB, Capital One, MBNA and Barclaycard – have increased APRs for existing customers. For example, 11 p...
Cash machines can cause credit card debt, study suggests
24 Jul 2008 at 7:06am
Using a credit card to withdraw money from cash machines could accrue debt, new analysis from Money Expert has revealed.
The average annual percentage rate (APR) imposed by credit card companies for not clearing balances built up by ATM use now stands at 25.3 per cent – a rise from 21.27 per cen...
Summer holidays see millions getting into debt
24 Jul 2008 at 7:05am
More than 2.5 million British adults will get into debt after taking holidays this year, Credit Expert has said.
The figure is twice as high as last summer.
Experion’s credit monitoring service also said a quarter (24 per cent) of adults are scrapping their holiday plans for this year – 43 per c...
Share Your Experiences To Help Others In Debt
23 Jul 2008 at 10:55am
Share Your Experiences To Help Others In Debt
Please help us. ReallyWorriedAboutDebt.co.uk and ClearDebt are actively working to get better treatment by the banks and credit card companies for those people who are worried and caught up in debt.
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ADDIDI Wealth: More awareness of money management
23 Jul 2008 at 8:28am
More people are seeking professional advice about their finances, an expert has said.
Independent financial advisory company ADDIDI Wealth has said the government’s attention to financial management has resulted in more people asking for help compared to ten years ago.
This may suggest people w...
Equifax: 35% do not know why they were refused credit
23 Jul 2008 at 8:26am
Equifax has said “apathy and ignorance” about credit files and their effect has meant people are being declined loans without knowing why.
The credit crunch means less money for lenders to offer customers and more stringent lending criteria has been imposed, resulting in fewer people being able t...
Citizens Advice: England struggling to pay for prescriptions
23 Jul 2008 at 8:25am
English people in need of medication are in danger of getting into debt to pay for it or are not purchasing prescriptions at all, Citizens Advice has suggested.
Prescriptions are free in Wales are plans are in place to remove the charge in Scotland from 2011, yet patients in England are yet to r...
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