Despite all the credit watchdog organizations crying wolf for the last couple of years, the British Economy’s credit rating is “extremely strong.”  This is great news for consumers who have been wondering if the ‘panic’ has a solid foundation.
Standard & Poor’s recently revealed facts that show how the country’s diverse and resilient economy, combined with […]

Are you sick of being charged by your bank or credit card company for late fees and missed payments. Well a new statement from the Office of Fair Trading could work to your advantage. The OFT said recently that banks, building societies and credit card providers were entitled to charge customers for unauthorised borrowing and […]

The recent collapse of Farepack, costing its 150,000 customers an estimated £50 million pounds, has commanded the attention of parliament. MPs say that the lack of consumer protection in this entire saga is a disgrace and that steps will have to be taken to ensure that this type of collapse is not repeated.
The issue has […]

The proposed summit between banks and debt consolidation firms is attracting all aspects of the financial community. The summit does not promise to create any viable solutions that will benefit consumers. The summit is only seen as a first step where each side will ‘measure up’ the other, and make future plans to deal with […]

The British government will introduce new legislation in the next year to provide debt relief for debtors in England and Wales, according to last week’s Queen’s Speech. These measures are primarily for those owing a relatively small amounts, but who possess neither the income nor the assets to repay the debt and who, cannot afford […]

Many professionals starting out at the beginning of their career will be all too aware of the time it takes for their career to start paying them dividends. Many of those in the country’s highest paid professions start out their careers on comparatively low salaries, as well as being straddled with the debts of years […]

Yesterday was a hard hitting on for Government. MPs and Other watchdog groups took a stand against unfair personal loan practices followed by many licensed, and unlicensed, brokers.
Liberal Democrat Treasury spokesman Vince Cable said: “After 10 years of this Labour Government endlessly promoting financial inclusion and paying lip service to credit unions, virtually nothing has […]

The Government needs to increase access to “affordable” credit for those living in poverty.   Currently, the poor are paying more for their money than the rest of UK borrowers.
MPs today asked for a crack down on “loan sharks.” They classify these as lenders who exploit the poorest and most vulnerable elements of society to earn […]

The Treasury select committee argues, in its Financial Inclusion report, that the government must prevent the current exclusion of societies poor from access to bank accounts, credit cards and mortgage loans.  Most consumers are taking advantage of the “cashless society”, the report states that “a significant minority of people in the UK, such financial services […]

HSBC Holdings became the first British bank prepare a plan to start charging a current account holders a fee for managing their accounts. Analysts have no doubt that the other lenders will quickly follow the trend and end free current-account banking.
HSBC’s online banking, First Direct, will charge 10 pounds per month. This only applies to […]