No More Interest Free Student Loans
No more interest free student loans - could this push people further into debt
Banks Write off up to £40 Million of Debt Every Day
Alarming amount of debt written off by banks every day in the UK - are we only now beginning to see the true outcome of the credit crunch?
OFT Warning Against Borrowing from Loan Sharks
New leaflet campaign will warn people about the dangers of borrowing from a loan shark
Over 5 Million UK Homeowners Cannot Afford a Rise in Interest Rates
A staggering 5.4 million UK homeowners would not be able to afford a rise in interest rates according to new research from Shelter, the housing and homeless charity.
2.4 Million Additional Debt Management Enquiries
The Citizens Advice Bureau (CAB) annual statistics reported that an additional 2.4 million enquiries for debt advice were received by its call centres in 2009 compared to 2008.
UK Interest Rates Held at 0.5% Record Low
Interest rates are kept on hold at record low levels but this means little for people already struggling with debts.
£55bn of Secret Debt
According to a survey by OnePoll for the Post Office £55bn of debt is kept secret by people in the UK.
Student Loan Interest Rates Will Increase
On 1st September the Student Loans Company will reset the interest rate payable and this is based on the Retail Prices Index (RPI) rate of inflation in March.
5.4 Million Spend More Than They Earn
A staggering 11% of the population or 5.4 million people spend more than they earn every month. In addition to this 13% break even and 53% end up with less than £100 in their current account when all expenditure for the month has been covered. With Credit Action reporting that current personal debt in the UK is £1.64bn this is surely a massive cause for concern.
Extended Opening Hours at Debt Advisory Line
Debt Advisory Line, based in Stockport, Cheshire and Keighley, North Yorkshire will be able give more debt advice to people thanks to new Sunday opening hours.