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 the rest of this entry

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 the rest of this entry

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 the rest of this entry

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 the rest of this entry

According to a recent report there has been an unexpected fall in insolvency figures in the second quarter of this year, with officials stating that consumers appear to be getting far more cautious over their spending and borrowing in light of the global credit crunch and the current difficult financial conditions and rising costs that most are experiencing. The first quarter of this year saw a rise in insolvency levels for the first time in years, and this was a trend that many thought would continue. Read the rest of this entry

A recent report has shown how many Brits will retire whilst still owing a fair amount of money, and the data suggested that collectively Brits could retire with collective debts of around £66 billion. For the many that hoped their retirement would involve relaxing, seeing the world, spending time with loved ones, and not worrying about work or money this news comes as a blow, and reflects a worrying trend amongst those that are nearing retirement age. Read the rest of this entry

Officials from a debt advisory service have been urging homeowners to seek advice from industry officials as early as possible if they are finding it difficult to keep up with mortgage repayments and debts. With house prices due to continue falling over the coming year homeowners are set to face a challenging time, according to the group, and this could be made worse by the fact that more recently property purchasers could find themselves plunged into negative equity, where they owe more on their property than the property is worth. Read the rest of this entry

The economy has been faltering lately, but the news is not so new. Up until more recent developments, hundreds of thousands of Americans have been struggling to keep up with their debt payments, while their personal financial matters have been barely floating above ruinous water amidst such morose issues as extravagant gas prices, expensive food and consumables, utilities, car payments, and many more concerns that the average American deals with on a daily basis. Read the rest of this entry

According to a recent report economic optimism in the UK has dropped to its lowest level in a quarter of a century, with a number of factors all pointing to the increasing risks of recession. Many are wondering whether the UK is heading the same way as the United States in terms of the economic downturn, and the matter has been made worse by the fact that for the past couple of months interest rates have been left on hold at 5% whilst borrowing costs, in many cases, have continued to rise. Read the rest of this entry

Financial experts are offering consumers some sage words of wisdom for 2008. One key message: Put some thought into the next credit card offer you agree to accept.

Experts in the field note that selecting a credit card can be nearly as crucial as choosing the right mortgage. In order to get the most out of your credit card, you need one that fits well into your financial lifestyle. Read the rest of this entry