Failing To Pay Off Credit Cards No Longer A Zero Interest Game When Bank Rate Rises!


The relentless rise in consumer debt is causing jitters among many analysts, financial advisers and debt charity groups. A new credit agency report points to the increasing number of consumers who have upped their spending levels by switching credit cards to interest-free deals. As a result, many have been recklessly spending in the belief they [...]

Banks Cash In On Dips Into Pre-Arranged Overdrafts


If you are a low to middle income earner, then you’re probably very used to living with managing debt on monthly repayment interest on loans, credit cards and bank overdrafts. You might imagine that the ongoing period of plummeting inflation and low interest rates would have helped ease the shortfall after all essential bills have [...]

Are Low and Middle Pay Earners Surfing Loan Shark Infested Waters?


Many have seen the recent video of one surfer’s run-in with a Great White shark. It could be happening online too! More borrowers are being excluded from using credit and are managing debt by turning to less scrupulous lenders, according to a new survey by the Financial Conduct Authority (FCA). The report points to changes [...]

IVAs Still Highest In The North But Do Like To Be Beside The Seaside!


North East England continued to have the highest insolvency rates in 2014, while London had the lowest, according to latest annual figures released by the Insolvency Service. The individual voluntary arrangement (IVA) and debt relief order (DRO) have been the highest in this region since the financial crisis of 2008. The rate of IVAs per [...]

13 Million Households Face A Financial Knife Edge As In Work Benefits Are Slashed!


It’s not just workers on low pay who are set to lose the most as a result of the benefit cuts announced in the Summer Budget 2015. Middle income earners will also be affected. As many as 13 million families from working households look likely to be managing debt level problems in making ends meet [...]

Six Million Trapped In “Working Poverty”

Six-Million-Trapped-In -Working-Poverty

“Working poverty” is the not-so-new buzzword that seems to be on every economist’s lips as the government cracks on with £12 billion of welfare cuts. It simply means that those in work managing debt on low pay, who up till now have been supported by tax credits, are in Chancellors George Osborne’s firing line in [...]