New proposals have been brought in to try and provide greater protection and flexibility to credit card users in the UK, according to recent reports. Read the rest of this entry

According to reports the decision on a test case relating to debt repayments is set to be made early next year, and once the decision has been made the fate of around 100,000 borrowers who are trying get rid of their debt will have been decided. Like the recently decided bank charges test case, which was started in January 2008 and has only recently been concluded after the banks appealed to the Supreme Court, the current High Court test case into repayment of debts could end up going further. Read the rest of this entry

It has been claimed that the recession in the UK is being made worse by the rising level of credit card defaults that have been seen recently. According to reports families are being forced into a very difficult financial situation, with tens of thousands of families being affected by the high level of credit card defaults. Read the rest of this entry

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 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

Credit cards are responsible for causing countless consumers an immeasurable amount of debt. It is believed that the average debt incurred by American families can be as high as $8,400 but is usually much higher. Credit cards are a useful tool for creating ease and convenience in a world obsessed with material and image. With 40% of households spending more then they earn, credit cards are deemed as a necessity in order to keep up appearances. Read the rest of this entry