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News Room
65% drop in mortgage approvals
26 August 2008
The number of mortgages approved last month has declined by 65 per cent on last year according to figures released by the British Bankers’ Association (BBA).
Credit card repayments set to soar
26 August 2008
Credit card users could soon see minimum repayments soar on their debts to £25, which could push many struggling households over the edge.
5 per cent declined credit
22 August 2008
One in 20 people have been turned down for credit in the past 18 months, according to a recent survey by GE Money Home Lending.
E.ON bring further misery to 5.5m customers
21 August 2008
Energy company E.ON became the latest supplier to raise prices, inflating gas bills by 26 per cent and electricity by 16 per cent.
“Hard-up” can still reclaim unfair bank charges
21 August 2008
The court case between the Office of Fair Trading (OFT) and the banking institutions may run until next year, however those in financial difficulty can reclaim charges now.
Families forced to let un-sellable homes
19 August 2008
Many families who can’t sell their homes are being forced to let properties and move into rental accommodation, figures from the Royal Institution of Chartered Surveyors (RICS) suggests.
Families can’t cope with new gas price hikes
18 August 2008
Many families are already struggling to pay utility bills, and millions more will be unable to cope with the price rises that gas companies have introduced this summer, according to a recent survey.
Repossession orders up by a quarter
18 August 2008
The number of homeowners in England and Wales threatened with having their property repossessed has risen by almost a quarter, official figures show.
Shoppers squeezed by shrinking goods
18 August 2008
Shoppers are paying more for their goods without realising - as manufacturers shrink the sizes of popular grocery packs.
15 Per cent worse off than 2003
4 July 2008
The average household is now 15 per cent worse off than it was five years ago, according to a study by Ernst & Young.
Debt funding mortgage payments
3 July 2008
Rising living costs are forcing people to take out loans or use their credit cards to pay for mortgages and rent, a study from Moneysupermarket has found.
One in three Britons 'unable to save'
30 June 2008
A third of Britons can’t afford to save for their retirement, research from Scottish Widows has found.
Living costs up 26 per cent in two years
20 June 2008
The cost of everyday living has risen by more than a quarter in the last two years, according to a study by Combined Insurance.
Reckless lending as incomes go unchecked
18 June 2008
High street lenders are issuing credit cards without sufficient credit checks, according to comparison website uSwitch.
Two thirds think 'country is in recession'
9 June 2008
Consumer confidence has slumped to an all-time low, with almost two-thirds of consumers believing that the country is in recession, according to a survey by the British Retail Consortium (BRC).
Lenders overcharge by £1.4bn for payment cover
5 June 2008
Consumers taking out Payment Protection Insurance (PPI) to cover loans and credit cards have been overcharged by £1.4bn a year according to a study released today by the Competition Commission.
Third of payment protection cover mis-sold
29 May 2008
Almost two million payment protection insurance (PPI) policies have been mis-sold according to consumer organisation Which.
Petrol fuels debt worries
23 May 2008
More than 96 per cent of Brits are worried that they won’t be able to cope if fuel prices keep increasing, according to a survey by moneysupermarket.com.
30 days from disaster
22 May 2008
More than a third of all adults are only a month away from financial hardship, a study from credit agency Callcredit has revealed.
Middle-class misery
22 May 2008
More of the UK’s middle-classes are feeling the pinch of the credit crunch according to a report aired on BBC Radio 5 live.
Payday loans increase
19 May 2008
There has been a 55 per cent increase in the number of people taking out payday loans since September last year, according to research from moneysupermarket.com.
17 per cent more face losing home
9 May 2008
The number of people who face losing their home has increased in England and Wales according to a Ministry of Justice report.
Insolvencies on the increase
2 May 2008
Only three months into the year and already over 25,000 people have become casualties of the insolvency epidemic, a report from The Insolvency Service reveals.
Credit crunch fuels loan lies
30 April 2008
More people are deceiving lenders by lying on credit card and loan application forms, to try and cover up poor credit histories, according to UK fraud prevention service CIFAS.
42 per cent rise in secured loan court orders
25 April 2008
The number of lenders trying to secure loans and credit card debts against borrower's properties has increased dramatically according to provisional Ministry of Justice figures.
Banks lose OFT charges test case
24 April 2008
Seven of the biggest UK banks lost a landmark test case today at the High Court regarding their unauthorised overdraft charges.
Over half a million credit card rejections a month
21 April 2008
There have been more than half a million credit card rejections each month for the last six months, according to figures released by financial website moneyexpert.com.
Abolished 10p tax rate hits low-paid
7 April 2008
New tax changes launched this week are set to punish the low-paid, MP's have said.
More people seeking debt advice
20 March 2008
Mortgage and household bill fears have caused a surge in the number of people seeking debt advice from the Citizen's Advice a BBC report has found.
6.5m People forced to consolidate debts
17 March 2008
Almost 6.5 million people have had to consolidate their debts in the last three years to keep debts under control, according to research from financial website MoneyExpert.
Home repossessions up 21 per cent in 2007
11 February 2008
2007 saw house repossessions at their highest level since 1999 the Council of Mortgage Lenders (CML) has revealed, with over 27,000 homes reclaimed.
Third of adults spend all of their wages or more each month
22 January 2008
Nine million Brits spend everything they earn each month...
Over quarter of adults ‘likely' to struggle with monthly payments this year
22 January 2008
Almost 13m adults are likely to struggle keeping up with monthly commitments this year...
Almost half million mortgage payments missed
22 January 2008
Almost half a million mortgage payments were missed in the last six months...
Over a fifth of adults ‘maxed out’
21 January 2008
More than a fifth of adults have ‘maxed out’ on at least one of their sources of credit...
7m missing household bill payments
15 January 2008
During the last six months over a million household bills a month were unpaid
Millions set for double digit energy bills rise
7 January 2008
Almost six million people face energy bill rises of up to 17 per cent, as one of the largest suppliers announces increases.
Families hit by doorstep debt
24 December 2007
Over two million households are taking out loans from door-to-door salesmen...
Mortgage costs highest in over 26 years
21 December 2007
In October mortgages became the most expensive to repay since 1991...
Millions still paying for last Christmas
21 December 2007
Over four million people are still paying for last Christmas...
Millions failing to cope with debts
4 December 2007
Nearly six million people may need to go into further debt just to meet their living costs
Over 10 million people financially ‘on the edge’
29 November 2007
More than ten million adults in Britain accept their current borrowing level is unmanageable or worse
More than half of wages already spent
29 November 2007
Over half of monthly take home pay is swallowed up repaying debts
More people to fall behind with mortgage payments
8 November 2007
The slowing housing market could spell disaster for many homeowners
125 higher credit card charges in two months
8 November 2007
More than 125 separate credit card charges and rates have been increased in the last two months according to recent research.
Over a million people pay for their home on plastic
17 October 2007
In the last 12 months, over one million householders have resorted to using credit cards to pay for their rent or mortgage, according to leading charity Shelter.
60% more mortgage rejections
16 October 2007
As lending conditions have tightened, over 738,000 mortgage applicants have had their mortgages rejected, research from internet financial site MoneyExpert.com has revealed.
Writing cheques may soon come at a price
15 October 2007
Borrowers who use their cheque books to delay payments from leaving their accounts until after payday are set to have to pay for the privilege, according to research from financial research company Defaqto.
More people set to be turned down for mortgages
12 October 2007
Sub-prime mortgage borrowers will see their applications turned down following lender's new restrictions
More pensioners in need of debt help
27 September 2007
The number of pensioners in Wales seeking help with their debts has doubled in the last five years according to a recent report.
Millions going deeper in debt after consolidation
19 September 2007
Two thirds of people who consolidate their debts with a loan will then go on to develop even more debt
Lenders punishing those missing mobile phone payments
14 September 2007
Lenders are scrutinising consumer’s credit histories even closer following the recent US scare.
Debt warning from the Chancellor
13 September 2007
Chancellor Alistair Darling has warned banks to be more careful when it comes to lending money
Record numbers seeking debt advice
12 September 2007
The number of people seeking debt advice has soared
Increase in balance transfer fees
11 September 2007
The average fee for transferring a balance to a 0 per cent credit card has risen
Unfair mortgage charges penalising those in need
5 September 2007
Lenders are making it even more difficult for customers to clear their arrears on their mortgage payments
Repossessions fuel home auction numbers to highest level in years
3 September 2007
Chiltern is urging people who face losing their home through repossession to seek help
Millions entering in to the unknown on overdraft charges
29 August 2007
Around 30m people are unaware how much they will be charged when they go overdrawn
Which? Attacks credit card fees
29 August 2007
According to the consumers association Which? Credit card companies are continuing to increase their fees.
Are long term 0% credit cards such a good idea?
23 August 2007
Customers need to be confident they can meet the repayments required
2.4 million Brits are worried about their debts
23 August 2007
A quarter of adults have taken on additional debt in the last three months
15m people don't know how much they owe
20 August 2007
More than 15m people in the UK don't know how much money they owe
Brits get into debt to keep up with the Joneses
17 August 2007
One in five Britons is spending beyond their means each year
Beware of the student credit card!
16 August 2007
The average APR (annual percentage rate) on a student credit card is around 18%.
Parents £5 billion worse off after summer holidays
15 August 2007
Parents risk sinking into debt as they spend over £5 billion pounds during the summer holidays.
Brits borrow £4.4m a year to see them through to pay day
14 August 2007
Interest rates to rise again
9 August 2007
The August inflation report from the Bank of England has suggested interest rates will need to rise again
Millions using credit to gamble out of debt
8 August 2007
Millions of gamblers are funding their habit by borrowing on their credit cards.
Home repossessions and insolvencies increasing
3 August 2007
The number of people having their properties repossessed has jumped by 30 % at the same time as the number of insolvencies has increased according to official figures released today.
Britons rack up £1m in debt every four minutes
31 July 2007
Virgin Money boost 0 per cent credit card
19 July 2007
Interest rate rise leads to millions of missed bills
2 July 2007
Motorists urged to shop around and beat 7.9 per cent hike in premiums
28 June 2007
Credit Card Confusion costs Consumers £500m
27 June 2007
One million CCJ’s a year!
1 June 2007
Manchester capital of financial stress in the UK
31 May 2007
British Gas price cuts
27 April 2007
Chiltern unveils free financial health check
16 April 2007
Credit card cash costs extra £41m
20 March 2007
Credit card providers slap consumers with extra charges
14 March 2007
Third of Brits taking consolidation loans are trapped by debt
12 March 2007
Interest rate rise could spell disaster for UK's over-indebted
7 March 2007
Millions of children see parents arguing over money
13 February 2007
A third of couples with children in the UK argue over money according to research from CreditExpert, the online credit report monitoring service.
Banks fail to check income before granting credit
13 February 2007
Banks are failing to carry out enough income and affordability checks for many credit card applications - an issue that is fuelling the UK's debt problem, a new report claims.
Repossessions rocket
13 February 2007
Home repossessions rocketed by 65 per cent last year as interest rate rises hit owners already struggling to keep up with monthly repayments.
A trillion reasons to worry
20 December 2006
Personal debt in the UK is rising by £1m every four minutes according to research from the national money education charity, Creditaction.
Debt rising
7 December 2006
Household debt has risen by more than 30 per cent to an average of £13,153 over the last three years according to figures from the Citizens Advice Bureau (CAB).
Tories get set to tackle tossers
7 December 2006
The Conservative party has launched an anti-debt campaign that urges young people to “ignore their inner tosser” and cut out unnecessary spending to reduce the likelihood of serious debt problems.
Avoid the store card discount sting this Christmas
24 November 2006
With shoppers across the UK gearing up for one final frenzied present buying push before Christmas, Chiltern Debt Management has warned buyers to beware the false economy of store cards.
Brits binge spending culture sparks financial health warning
21 November 2006
With close to £52bn* set to be spent before Christmas, Chiltern Debt Management is warning British shoppers not to binge spend now and face dire financial health issues in 2007.
Check your credit file for free with Chiltern
17 November 2006
Debt management specialist, Chiltern, has launched a free online credit report service in order to give people worried about debt the chance to review their credit history without having to spend more money to do so.
Christmas spending to top £50bn
15 November 2006
Christmas spending is set to rise to more than £50bn in December according to the latest figures from APACs which monitors UK spending habits.
Citizens Advice Bureau helps 1.4m with debts
15 November 2006
The number of people in the UK seeking help with debt problems has jumped by 11 per cent to 1.4m according to the latest figures from the Citizens Advice Bureaux (CAB).
Remember, remember the fifth of November
31 October 2006
Chiltern Debt Management is warning families to avoid their finances going up in smoke this bonfire night by checking the small print in their home insurance policies before lighting even a sparkler.
Credit rejection – A warning sign
31 October 2006
Consumers who are turned down for credit should take control of their borrowing rather than applying for more according to Chiltern Debt Management.
Bailiffs should be regulated
27 September 2006
The Citizens Advice Bureaux is calling for bailiffs to be regulated after it discovered the debt collectors use intimidation, harassment and excessive fee charging to drive vulnerable people further into debt.
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