Banks ‘write-off’ rising debt levels
Levels of personal debt in the UK seem to have reached alarming levels with banks now having to write-off bad debt records from last year. The figures that will be published by the Bank of England on Thursday are expected to illustrate the stunning heights fourth quarter write-offs had touched in 2004, setting a record with levels amounting more than £6bn a year.
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Mon, 28 Mar 2005 00:00 GMT |
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MBNA relieves bad-debtors of £200
After the entire hullabaloo about debt ridden customers, somebody seems to have finally come to the rescue of debtors struggling to make repayments.
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Fri, 25 Mar 2005 00:00 GMT |
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Borrowers need certain degree of protection
With personal debt in Britain standing at over one trillion pounds to date and rising, which equates to a massive £17,000 of borrowed money debt for every person living in the UK, a new report has suggested that borrowers are and more importantly need to be made fully aware of the details and implications of borrowing in particular, should things go wrong.
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Tue, 22 Mar 2005 00:00 GMT |
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Personal debt levels in the UK ready to ‘explode’
Rising Debt levels in the UK have been a constant cause of worry, of late. A report by the Conservative Party termed the UK personal debt levels as a ‘time bomb’ which was ticking away for the millions of borrowers and their kin.
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Mon, 21 Mar 2005 00:00 GMT |
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Trial run on new debt repayment underway
The Department of Constitutional Affairs is planning to test a scheme that provides people with six months' grace from debt repayments if their financial circumstances change unexpectedly.
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Sat, 19 Mar 2005 00:00 GMT |
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Simple tips to improve your debt management
Ignoring the proper management of debt can lead you into big trouble. A study conducted last December by Alliance & Leicester Personal Loans said that although consumer debt was sky-rocketing, only 8 per cent of the people were really planning to consolidate their debts in the coming years. More than two-thirds said they saw debt consolidation as a ‘bad deal’ for the consumer.
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Tue, 15 Mar 2005 00:00 GMT |
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Mounting debt making people blue
The Consumer Credit Counselling Service along with the World Health Organisation and the Office for National Statistics revealed that there was a serious link between highly indebted people and clinically depressed patients. This was observed with more than half of the people in debt found to be diagnosed with mental depression.
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Mon, 14 Mar 2005 00:00 GMT |
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British consumers on a personal debt spree
This decade has witnessed conspicuous increase in a British adult’s debt almost by 50% with each adult having about £4,000 outstanding in loans, overdrafts, credit cards, store cards and finance deals this year, against £2,767 in the year 2000. The money due on credit cards accounteds to approximately £1,302 on credit cards, £1,892 in unsecured personal loan balances and £812 on overdrafts and motor and retail finance deals by each adult.
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Sat, 12 Mar 2005 00:00 GMT |
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