Consumer Minister Ian McCartney recently warned borrowers to take advantage of free debt advice services before resorting to borrowing from a loan shark.  The Minister, who opened a London office for the Money Advice Trust ( MAT ), admitted that many people still do not realise that free debt management support is available.
Mr McCartney, recently […]

Citizens Advice welcomes the new government plans to address the scale of Britain’s financial exclusions.  The charity praised the decision to extend the Financial Inclusion Fund until 2011 as good news for thousands of UK consumers currently unable to access personal loans, credit cards, unsecured loans, bank accounts and other financial products.
Citizens Advice, receives millions […]

The Government has finished the pilot program it started last year and is ready to take on loan sharks  who are preying on the UK’s poorest communities.  The pilots in Birmingham and Glasgow where successful at exposing and prosecuting loan sharks who charge interest rates as high at 400 per cent.
Gangs are preying on poor […]

Consumers cannot find a checklist which will help them identify a reputable loan company or debt management expert.  Recent developments have made it painfully obvious that many people are being victimized by unscrupulous loan companies and
There isn’t a definitive checklist by which you can identify a reputable loan company. However, the following list includes a […]

The new proposals, contained in the Consumer Credit Bill now force lenders to display the real cost of credit before and during the term of the loan. This applies to Bad Credit Loans, an industry that has used appeals to consumer’s desperation to reduce the likelihood of them shopping for a good loan deal.
The new […]

Treasury Select Committee chairman John McFall has said that poor people pay the highest charges for the credit they get, reports MoneyMarketing. He says that action must be taken to address high cost credit and illegal lending. His remarks are made in the context of the government’s announced goal of tackling financial exclusion.
A recent committee […]

Despite the forecast of gloom on the UK financial horizon, there are some strong trends that indicate a healthy respect for credit is shared by most UK consumers. One such statistic states that seven out of ten personal loans are repaid early. This means that consumers are able to afford their debts, and borrow money, […]

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 […]