Statistics from the Department of Energy and Climate Change have revealed that fuel poverty has more than doubled in the last five years amid rising energy prices. Anyone spending over 10% of their household income on heating their homes are said to be in fuel poverty. The figures show that an increasing amount of people [...]
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 [...]
Research has revealed that the number of people contacting the Citizens Advice Bureau (CAB) for help with debt problems has surged by 20% in the last 12 months. The independent charity, which was established 70 years ago to help people with war-related problems, provides information and advice to help people with their money, legal, consumer [...]
The Citizens Advice Bureau (CAB) said there is a growing increase in the number of consumers struggling with fuel debts. During April to September 2009, the CAB in England and Wales reported a 46% increase in the number of clients with fuel debts compared to the same period a year ago. David Harker, chief executive [...]
The number of people struggling with debt problems has been highlighted by the Citizens Advice Bureau (CAB) after it emerged that the independent charity is taking around 9,300 new debt cases each day. The figures have been released to celebrate 70 years of the charity, which was originally established to help people with war-related problems. [...]
The Citizens Advice Bureau (CAB) claims that lenders are increasingly threatening customers in England and Wales with charging orders, in attempts to intimidate debtors into making unaffordable repayments. A charging order is a means of securing an unsecured loan against equity in the debtor’s property. In a new report entitled “Out of order” the charity [...]
Two documentary-style short films released this week aim to educate young people on how to avoid the debt trap. Produced by the Citizens Advice Bureau (CAB), the films were created in response to recent research highlighting the detrimental effect that debt worries have on the lives of young people. The study by YouthNet found that [...]
The Citizens Advice Bureau (CAB) has warned of a “worrying gap” in the availability of affordable financial advice for people approaching retirement. People over 50 are often asset rich, but cash poor, and cannot afford to pay for the financial advice they need, the CAB said. Many people in this age group have complex questions [...]
Consumers are increasingly struggling to pay off debts, according to figures released this week by the Citizens Advice Bureau (CAB). Debt enquiries to the Bureau increased 11% on year between April 2008 and March 2009, with the CAB advising 1.93 million people struggling to pay back debts. Redundancy enquiries during the same period soared by [...]
The Office of Fair Trading (OFT) has shut down thirteen websites for misleading consumers. The watchdog said these debt management companies, which have not been named, are using website addresses similar to non-profit organisations and are deliberately misleading customers. Ray Watson, OFT credit director, said “We believe they are misleading consumers by holding themselves out [...]
The average person seeking debt advice from the Citizens Advice Bureau (CAB) is nearly £17,000 in the red and would need 93 years to pay back the money at an affordable rate. This is compared to an average debt of £10,600 in 2001, and CAB expects the situation to deteriorate further in the year ahead. [...]
Latest figures from the Citizens Advice Bureau (CAB) show a steep rise in the number of enquiries about arrears on mortgages or secured loans, over the past three months. The number of people falling behind with their homeloans and seeking help from the charity increased by 51% over the three months to the end of [...]
M&S Money launches 3% cash ISA
M&S Money has launched an Advantage Cash ISA paying 3 per cent, and which allows transfers in from other ISAs. It can be opened with a minimum deposit of £100 lump sum followed by minimum monthly deposits of £25. The 3% rate is variable, but there is no short-term bonus so the return won’t plummet [...]
Google suspends UK Compare Mortgages site
Google has closed its UK mortgage comparison site which it launched in July last year, after it proved to be less popular than expected. Mortgage comparison sites are designed to allow visitors to compare mortgages quickly and easily without having to visit each lender’s individual site. Google was competing with several well-established comparison sites, including [...]
AA launches ‘black-box’ policy for young drivers
The AA is launching an innovative car insurance policy called Drivesafe which could help younger drivers save up to £850 a year. Younger drivers already pay substantially higher premiums than other motorists and these costs are increasing. A new study by Confused.com suggests insurance costs for younger driver have gone up by 5.7 per cent [...]
ATOL scheme updated to protect online bookers
ATOL, a financial protection scheme managed by the Civil Aviation Authority, is being extended to protect up to six million more holidays a year. The scheme ensures that holiday makers do not lose out financially if a travel company collapses, and that they are not stranded abroad. An increase in the number of holidays booked [...]
Home repossessions lowest for four years
The number of UK homes repossessed fell to 36,200 in 2011, significantly below the Council of Mortgage Lenders’ forecast of 40,000, and lower than 2010 when 37,100 homes were repossessed. With interest rates remaining low and lenders adopting a sympathetic attitude to customers in financial difficulty, repossessions fell to their lowest level since 2007. However, [...]
Monthly pay lasting just 17 days
Workers are running out of money just 17 days after receiving their monthly pay, according to new research by the Halifax bank. This means that the average UK worker spends half the month worrying about money. The study, based on the responses of more than 2,000 adults, found that 10 per cent of workers start [...]
Women disadvantaged by auto-enrolment changes
Government proposals to increase the auto-enrolment threshold to £10,000 could put 1.8 million women at risk of missing out on a pension, the TUC has warned. Under the auto-enrolment scheme, which will be phased in from October, private sector employers will automatically enrol workers between the age of 22 years and the state pension age, [...]
Emergency household repairs company Homeserve is taking longer than expected to get back on track after its operations were suspended last October. The company expected customer numbers to fall by 5% this year but it has increased this estimate to 8% and announced the loss of 200 jobs. It estimates that renewal revenue in 2013 [...]
Sale rumoured for Yorkshire and Clydesdale banks
There is growing speculation that National Australia Bank (NAB) may sell Yorkshire Bank and Clydesdale Bank after the Australian parent company announced a strategic review of the two banks’ operations. The Australian economy is performing well and NAB reported strong profits for the final quarter of 2011 but with the UK economy at a virtual [...]
More women experiencing debt difficulties
Women in Debt, which offers female-focused debt advice, has warned that the number of UK women facing serious debt has grown significantly over recent years. The organisation believes that more women will need advice on solving debt problems in the future because they are building up an unsustainable level of indebtedness. Women in Debt’s director, [...]
About | Privacy | Disclaimer | Resources | XML Feeds | Press Releases | Directory | Contact us
