According to a recent report by the Bank for England up to 40% of people are having issues keeping up with repayments on unsecured debts (loans and credit cards), with many more seriously worried about being able to keep up with future repayments. The pending rise in VAT to 20% is likely to have an impact on many "borderline" cases as more people find they slip into the red and are unable to service their debt commitments. Get Free Debt Advice Today Complete the form below and a … [Read more...]

Recently a number of lenders were criticised by the office of fair trading for excessive pursuit of debtors through the courts. Several lenders including American Express Services Eurome, Alliance and Leicester Personal Finance, Welcome Financial Services and HFC Bank all singled out for criticism. Get Free Advice Regarding Charging Orders Today Complete the form below and a professional debt advisor will call you back. They were accused of sending ‘oppressive’ and … [Read more...]

As a result of the credit crunch and subsequent recession the profile of those seeking debt advice has changed significantly. Increasingly the kind of people seeking debt advice are "well off" professionals. All to often people who took on large debts whilst the economy was growing, only to face pay cuts or redundancy during the recession. According to a recent BBC report: "In the past it was almost uniquely people on benefits, people in social housing who went to debt advice agencies. … [Read more...]

£9.34 billion in individual / personal debts were written off during 2009, which is a significant increase from the £6.85 that was wiped out in the previous 12 months. The last quarter of 2009 produced a record high number of debts that were written off by building societies and banks. Private companies and individuals were unable to pay on £6.1 billion worth of loans and mortgages during the last quarter which is the highest level of default seen since the Bank of England started … [Read more...]