A report from Lloyds TSB claims 46% of British adults are ‘financially overweight’, and that 10% are the ‘financially obese’. Lloyds TSB is calling this the Bank Mass Index (BMI) which was developed by Stephen McKay of the Birmingham University.
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For many people, the biggest mistake they make financially is having debts with their own bank. Banks have the “right to offset” i.e. they will always take money from a debtor to cover the debts with the bank in preference to any other payments due.
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Almost 40% of people contacting the CAB for debt management advice use credit cards as their primary means to withdraw money from cash points. Read the rest of this entry »
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With So many UK consumer experiencing debt management problems, there is clear need for financial educational from an independent body.
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Credit Action are a national money education charity who collate and publish consumer debt statistics each month. Read the rest of this entry »
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Credit Card Companies may be cancelling cards from reliable customers and offering them to riskier ones to boost their profits, suggests Chairman of the treasury select committee, John McFall Read the rest of this entry »
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The Consumer Credit Counselling service uses its charity status to boost its claim to be champion of the struggling debtor, but is the advice it gives always the best advice?
Posted in Debt Management, Debt in the News, IVAs, Mortgages, Debt Consolidation, Uncategorized | 1 Comment »
Save up to 30% of your grocery spend by planning a weekly menu.
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Check Ebay after Christmas day, you’ll find many, many gift vouchers for sale at knock down prices. Read the rest of this entry »
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Lenders are desperate to get hold of our money as conventional credit streams are harder to come by.
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