Debt

Payday lenders sign up to voluntary guidelines

Payday loan companies have pledged to improve transparency and better protect vulnerable borrowers, the Government has announced.

Catalogue debt on the increase, warns money advice charity

A UK debt helpline received more calls from consumers struggling with catalogue debts than with rent, mortgages or payday loans, it has emerged.

Which? warns over payday loan 'debt trap'

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

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

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

Insolvency figures hide true picture of debt in the UK

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.

Some mums have to cut maternity leave short

Maternity leave ‘pushing new mums into debt’

Almost a third of first time mums have been forced into the red through a drop in income during maternity leave, typically racking up around £2,500 of debt.

Homeowners in Northern England are more likely to be in negative equity

Negative equity "four times more likely in north than south"

New research reveals that negative equity - when a homeowner owes more than their home is worth - is almost four times as likely to occur in the north of England than the south.

One in five young people are still paying off Christmas debt

One in five young people still owe debt from Christmas

New research suggests that one in five people aged between 18 and 44 still owe debt from spending incurred paying for last Christmas.

BBA: Cautious consumers continue to pay back debt

The British Bankers Association reports that UK consumers made a net repayment on credit card and loan debts of £305 million, whilst mortgage approvals fell from January.

UK has 1 in 2 chance of losing its AAA status, says Fitch

A second credit ratings agency has warned that the UK could lose its triple A status. Fitch said there is a 50:50 chance of being downgraded.

George Osborne is considering a gilt plan that would take advantage of low interest rates

Budget plan for 100-year loans to save billions on govt debt

George Osborne is considering a plan to issue 100-year bonds to take advantage of the UK's low interest rates and save billions on debt repayments in the coming years.

A government committee has criticised debt management and payday loan companies

Government says payday loan sector is "opaque and poorly regulated"

A government committee says that previous government consultations have done little to improve the regulation of consumer debt and payday loan firms and that swift action must be taken.

Household debt burden fuelled by living costs

Average UK family spends 25% of disposable income on debt interest

The average UK household is paying almost £200 per month in interest alone, representing nearly a quarter of available income, latest figures show.

Manchester United report a rise in revenue and fall in debt for the final six months of 2011

Manchester United report 12% rise in revenue and 13% fall in debt

Premier League champions Manchester United has published its financial results for the final six months of 2011 and report revenue rose from £156.m to £175m.

Disciplined use of credit cards can boost your finances

Ten of the best credit cards for your finances in 2012

If Christmas blew a hole in your finances a 0% interest credit card could be worth switching to so you have time to repay your debt before interest is applied.

Consumer confidence rises as borrowing falls by record sum

There was a slight rise in consumer confidence this month, while personal debt levels fell by the largest figure ever seen, new statistics have shown.

Aviva: UK households saving nothing hits record as debts rise

More people than ever are failing to set aside any money in savings as they use the cash to pay back debts and meet the cost of bills, Aviva has found.

Prudential study finds 25% of new pensioners retire in debt

Retirees could be losing large amounts of their monthly income because they are struggling to pay off debts.

Looking back at past financial decisions can help you avoid future mistakes

How to learn from financial mistakes of the past

As the first month of 2012 draws to a close and credit card bills from Christmas arrive, now is a good time to analyse your finances and see if you can learn from past mistakes.

Millions cut back on essentials to pay mortgages

Families may be going without food and heating as they struggle to pay mortgages.

How to survive January's cashflow nightmare

January is traditionally a tough month financially after the expense of Christmas and the New Year. Our guide provides top tips to get through the month and reduce debt.

Millions rely on loans and credit to pay mortgage or rent

Mortgages and rent cheques are increasingly being paid for using credit, which could lead to people losing their homes, a charity has warned.

The Co-operative Bank cuts interest on overdrafts

Customers with The Co-operative Bank who are worried about debt have been offered a lifeline by the financial services provider if they already have an agreed overdraft.

Insolvency Service urges young people with debt to seek help

Young people in Britain may be facing more debt than ever, but they have been advised that help is available.

Markit survey shows sharp decrease of household finances

UK households suffer fastest drop in incomes for nearly 3 years

Households in Britain have seen a sharp drop in disposable income and a further deterioration in their financial situation last month, according to a new study.