Debt

Common Financial Mistakes You Should Try To Avoid

April 23, 2012

Every day, UK debt management agencies field hundreds of calls from consumers looking for help. The particulars of their story are different but the tales feature several common themes. Though making mistakes is part of the financial learning curve, being aware of the most common pitfalls can help you avoid them. These tips may even [...]

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Christmas Debts Remain For One In Five Young Adults In UK

April 8, 2012

Though Christmas presents have been in use for months, some young people in the UK are still paying for them. New research released by Halifax reflects that one in five UK residents between the ages of 18 and 44 is still repaying debts amassed last Christmas. Holiday misery has taking on a new meaning for [...]

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UK People Going To Extremes To Repay Debt

April 8, 2012

Just when you think you have seen it all, along comes BuyMyFace. The brainchild of two UK students in debt, this venture involves using human faces as advertising space. After realizing that they owed loans worth a combined $80,000, the two students set out to create a plan for repaying the money. They launched their [...]

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UK Consumers Are Quickly Repaying Debt

April 1, 2012

According to a report released by the British Bankers’ Association (BBA) on Friday, UK overdraft, credit card, and personal loan repayments have surpassed new borrowing. For more than one year, UK consumers have been repaying these debts at the fastest rate, resulting in a £305 million net repayment, the highest figure since January 2011. Some [...]

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Banking On Lottery Or Gambling Winnings To Cover Debt Is Risky

March 7, 2012

The Co-operative Bank recently released some very disturbing research findings regarding UK consumer debt. Approximately 70 percent of UK adults said they had debt problems, many finding themselves in this situation for at least five years. Even more alarming is the fact that a lot of them do not recognize the issue until it has [...]

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UK Debt Situation Worsens Due To Interest Payments

February 29, 2012

For many UK consumers with loans, debt has become an unpleasant fact. Households report using one-quarter of their income to repay interest on their debts, according to the Consumer Credit Counseling Service (CCCS). The average household pays nearly £200 per month for interest alone. When this is combined with high inflation, soaring fuel costs, and [...]

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UK Mothers Sacrificing Food To Feed Children

February 18, 2012

In a very unfortunate development, one in five UK mothers is reportedly skipping meals so her children do not go hungry. Netmums discovered this in its recent study, which indicates that as many as 70 percent of UK families are facing a financial crisis. A decrease in income or additional price increases for basic items [...]

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UK Families Increase Personal Loan And Credit Card Debts

January 28, 2012

UK families have increased their average amount of debt by nearly 50 percent in just one year, according to recent research from the insurance company Aviva. As of early January 2012, the average family in the UK had £7,944 in financing, including credit card and personal loans debt. In January 2011, this figure stood at [...]

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As Millions Seek Help With Debt, Some Subprime Lenders Make Things Worse

January 14, 2012

New research conducted by the Money Advice Trust reveals that many UK residents are in financial dire straits. According to the study, approximately 1.54 million people in the UK sought debt assistance during 2011. The previous year, this figure was 1.4 million. The research also uncovered that nearly ten million UK residents are engaged in [...]

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