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Loans and Credit News

Brits ‘caught in payday loans downward spiral of debt trap'

Which? warns over payday loan 'debt trap'

Consumers relying on payday loans are getting trapped in a downward spiral of debt caused by exorbitant penalty charges, new research reveals.

UK trade deficit narrows helped by non-EU exports

Non-EU exports helped the UK to narrow its trading gap in March

Official data from the Office for National Statistics showed exports to the US, China and Russia helped the UK narrow its trading gap between imports and exports in March.

Boom years under Labour fuelled by household debt and borrowing

A new report says that low income families over-borrowed in the run up to the financial crisis

A new report from the National Institute of Economic and Social Research (NIESR) says that the economic boom of the new Labour years was fuelled by overborrowing.

Wonga to launch loans for small businesses

Wonga enters business loans market

Payday lender Wonga is entering the business loans market, offering up to £10,000 after an application process taking just 15 minutes.

Insolvency figures hide true picture of debt in the UK

The Insolvency Service reported a rise in bankruptcies in the first quarter of 2012

There was a rise in bankruptcies in the first quarter of 2012 but personal insolvencies declined, according to the Insolvency Service but experts believe the true picture may be distorted.

Eurozone unemployment up by almost 500,000 in three months

Unemployment in the eurozone has increased by 493,000 in just three months

169,000 people in the 17 countries of the eurozone lost their jobs in March taking the total in the first quarter of 2012 to 493,000 fuelling concerns of an escalation of the euro debt crisis.

Visa to launch V.me digital wallet in UK in autumn 2012

Visa will launch its new digital wallet V.me in the UK later this year

Visa has announced that it will launch its new digital wallet, V.me in three European countries, including the UK later this year.

Consumer confidence jumps in March but inflation may douse hopes

The Nationwide consumer confidence index for March was 53 points

The Nationwide consumer confidence index for March shows a nine point increase to 53 to reach a nine-month high but remain around 25% below the long-term average.


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