News Tag: CCCS
September 1, 2010
UK banks are facing mounting losses from credit card customers, with figures from the Bank of England showing write-offs rising to £2.1 billion in the three months to the end of June, up from £1.3 billion in previous quarter.
According to a BBC report, the 2010 total for bad credit card debt now looks set to exceed the record £4.1 billion ...
Soaring bad debt hits credit card lenders
by Gill Montia
August 14, 2010
The Consumer Credit Counselling Service (CCCS) has warned of a likely rise in repossessions in 2011.
Latest figures from the Council of Mortgage lenders show a fall in the number of homeowners repossessed.
However, the CCCS has on its books a number of clients with suspended repossession orders, lenders having shown forbearance and not enforced orders, despite borrowers failing to meet repayments ...
Debt charity warns of rise in repossessions
by Gill Montia
July 20, 2010
A leading debt charity has warned that repossessions could increase, despite a rallying of the UK economy.
The Consumer Credit Counselling Service (CCCS) believes that a recovering housing market could make lenders less lenient and more likely to repossess.
The charity is aware that a "large number" of its clients have suspended repossession orders on their homes, which lenders have chosen not ...
Debt charity warns of impending repossessions rise
by Gill Montia
February 26, 2010
UK consumers who never manage to escape their overdraft should seek debt advice, the Consumer Credit Counselling Service (CCCS) said this week.
It issued the guidance after research by moneysupermarket.com found one in ten British adults live on their overdraft.
CCCS said relying on credit for day-to-day expenses is one of the signs of a debt problem, and those ...
Relying on your overdraft is a debt problem, claims CCCS
by David Masters
February 5, 2010
Consumers struggling to manage their debts risk falling prey to expensive debt management companies, moneysupermarket.com warned this week.
Research by the price comparison site found that 20,000 people are signing up to debt management plans every week in an effort to get their finances under control.
Many are using free services such as the Citizen's Advice Bureau and the Consumer Credit Counselling ...
Debt management firms play on money fears
by David Masters
September 9, 2009
Three in ten people who seek debt advice are so far in the red that they will never find a way out of debt unless they earn more money, the Consumer Credit Counselling Service (CCCS) said this week.
Frances Walker, CCCS spokesperson, said that although it’s "good news" many people are starting to pay off debt in the recession, for a ...
Some borrowers may never pay back debt
by David Masters
July 29, 2009
Sticking to a tight budget is the best way out of crippling credit card debts, a financial advice charity has claimed.
The Consumer Credit Counselling Service (CCCS) said making "a strict and truthful budget" is the "first step" to getting finances in order.
Using a credit card to withdraw cash is a key sign of a consumer in financial difficulty, ...
‘Strict budgets’ the best route out of debt
by David Masters
Credit card News
