It has been revealed that millions of low-income families are turning to doorstep lenders in order to shore up their debt, with some rates as high as 200%.
The report which was published by Save the Children has revealed that as many as 2.3 million borrowers are taking out unsecured loans provided by door to door […]

The global credit crunch that financial institutions are currently suffering is partly a result of the collapse of the sub-prime mortgage sector in the US. This situation has led to massive losses for many financial institutions.
Repossessions in the UK could hit as much as 70,000 in the coming year, which will be the highest rate […]

£50m has been paid out by us in missed payment fines in the first half of this year. This is despite the fact that many card companies have dramatically cut their penalty charges.
It is estimated that roughly 4.1m monthly card payments were missed since the beginning of the year coming to a combined total value […]

A consequence of Britain’s heavy reliance on financial services has meant that it is far more vulnerable to the impact of the credit crunch than most other economies, that’s according to the Organisation for Economic Co-operation and Development (OECD)
OECD Chief economist, Jorgan Elmeskov, has warned that the financial turmoil which is going to force many […]

The Banking Code specifies that if a bank customer becomes a victim of fraud then they should be refunded any money that they have lost as a result of fraud, so long as the bank is fully satisfied that the reason for the fraud was not the result of the victim’s negligence. Negligence in this […]

It has been revealed that more than 10 million British adults are living on the edge of financial ruin as a result of being unable to deal with the rising mortgage prices and other debt they have incurred over the past few years.
There are currently large portions of the UK population gripped by money problems […]

Figures just released show that the average Briton is now £33,000 in debt, a figure almost twice as much as it was in 2000, when the average Briton then owed £17,000.
The bulk of the increase in debt comes mostly from spiralling house prices and the resultant large increase in mortgages. Many experts are now warning […]

Banks are desperately trying to weed out bad debts and as a result some borrowers are facing the prospect of having to repay their debts early and suffer pre-emptive cuts in their borrowing.
It has become increasingly apparent in recent months that banks have become extremely wary of bad debt and in response to this fear, […]

It has been revealed that credit card companies are continuing their practice of increasing interest rates on borrowers who have never made a late payment.
Some of the worst cases are examples of credit card companies putting up rates on borrowers who have never made a late payment by as much as 100%. That could mean […]

In a move to repay government lending, Northern Rock are set to slash 60% of their home loan customer base.
Since the government bailed out the beleaguered lender earlier this year, it has been holding £24bn of government funds, a figure it aims to reduce to £1bn by 2009.  It aims to do this by refusing […]