Financial News, Tips and Debt Advice
What would happen to a nation if its citizens were to gradually earn less instead of more? A logical answer to that question would be that they would eventually succumb to debt and that many of them will in the end face bankruptcy. The sad reality is that we are not talking about a theoretical […]
New research by insurance firm Aviva reveals that many of the seven million people in the UK who are currently renting a property are more vulnerable to debt problems should they suffer a sudden and unexpected loss of earnings or incur unforeseen expenditure. The study revealed that, while 13% of those living in a home […]
Last year the Money Advice Service (MAS) carried out a survey the results of which indicated that approximately 34% of Britons feared they would end up in debt after spending too much over the Christmas period. The organisation says all the information at its disposal indicates that this did indeed happen. Getting in debt is […]
In a recent article we reported on research carried out by the British charity StepChange, which showed that problem debt is costing the UK in the region of £8.3 billion a year. Traditionally, debt has been a much bigger problem in the under-40 age group, but a new study recently revealed that debt among the […]
Ever wondered why your pay cheque is simply not going as far as it used to and why you are trapped in a spiral of debt? The reason might not be financial mismanagement as many experts claim. According to a new study by the consumer group Which?, we are currently paying £410 per year more […]
Although the latest figures about per capita personal loan debt in the Chorley region do not cover all building societies and banks, they are nevertheless quite worrying. Data compiled by the Council of Mortgage Lenders and the British Bankers’ Association shows that the average resident of Chorley has a personal loan debt of more than […]
If you ever wonder why you still haven’t figured how to get out of debt after so many years a new study might have the answer: it’s simply because average weekly wages have failed to keep pace with the rising cost of living. Almost everything we buy has suffered from price hikes due to inflation […]
A brilliant move that could help to stimulate the sluggish British economy or a mis-selling scandal in the making? The government’s decision to open up pension funds for people over 55 next year so they can withdraw cash from their fund (partly tax free) has elicited mixed responses from industry experts. Tom McPhail of Hargreaves […]
At last there is some good news for debt-ridden British consumers: instead of the expected increase in mortgage rates, about which we have written repeatedly in the past, the rates might actually be heading down in the near future. The news comes after a survey by the Bank of England released a few days ago […]
A new study reveals that nearly 25% of tenants now have no other choice but to spend half or more of their income on rent. The study also found that 30% of tenants consider their rent bills to be unaffordable. SpareRoom.co.uk, who conducted the study, also discovered that nearly 20% of tenants never expect to […]
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