Misleading debt advice sites closed by regulator

The Office of Fair Trading has recently demanded that thirteen debt advice companies be closed down after revealing that they were providing misleading information to consumers. [Read more]

Britain could still go bankrupt

Several weeks ago a leading forecaster from the City predicted that there was still a very real possibility that Britain could go bust. [Read more]

Warning for solicitors over debt clearance firms

A warning has been issued to solicitors over accepting services from firms that claim to be able to write off people’s loans and credit card debts. [Read more]

Consumers in UK cutting back on spending to try and get rid of card debt

At this time of year many people are usually still lumbered with a heap of credit card debt, often on a number of different cards, and this is often as a result of the recent Christmas and New Year period, which for many people involves having to rack up huge levels of debt on their credit cards for things such as food, entertainment, clothes, gifts, travelling, and more. [Read more]

Chancellor admits recession could last two years

The Chancellor of the Exchequer, Alistair Darling, has admitted that the recession that has gripped the UK could last as long as two years, stating that the downturn was likely to be far worse that had originally been anticipated. [Read more]

Many people facing insolvency

A report that was recently released by KPMG claims that the number of people that face insolvency over the course of this year could soar to record levels, as the global credit crunch coupled with the recession and huge job losses wreak havoc across the nation. [Read more]

Demand for debt advice on the rise

A recent report has shown that as the nation continues to battle the recession and the effects of the global credit crunch, the number of people seeking debt advice from industry professionals and groups has been rising. [Read more]

Treasury announces details of homeowner rescue plan

Earlier this month Treasury officials provided further details on the homeowner mortgage rescue plan that has been proposed to help homeowners that are struggling to make their monthly mortgage repayments due to a loss of income. [Read more]

Increased number of people face bankruptcy

Recently released figures have shown that an increased number of people could be facing bankruptcy, with a rise in the number of people facing bankruptcy having already risen in the third quarter of the year. The figures show that there was a 7 percent increase in the number of people facing bankruptcy during the third quarter of the year, reflecting the effect of the global financial crisis on many household struggling to keep up with their financial obligations. [Read more]

Biggest debts now amongst middle classes

According to a recent report the biggest debts in the country are now held by middle class households, with the average middle class household owing around £50,000. The results of a recent study showed that many of those living in middle class areas such as London and the South East have borrowed four times as much money than those living in parts of the North West and Scotland. The study was carried out by the credit referencing agency, Experian. [Read more]

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