Tag: Consumer Credit Counselling Service

Jobless need protection from payday loans, charity says

Jobless need protection from payday loans, charity says

Prior to the Payday loan industry’s launch of a new code of conduct this week, the Consumer Credit Counselling Service (CCCS) is calling for more protection for the unemployed. The charity warns that the number of jobless people struggling to repay short-term, high-interest payday loans is increasing. It wants the payday loan industry to ensure [...]

July 24, 2012 | 0 Comments More
Debt repayment increasingly difficult says CCCS

Debt repayment increasingly difficult says CCCS

Although households reduced their debts last year they face a ‘tide’ of difficulties in repaying them, according to a study by the Consumer Credit Counselling Service (CCCS). The study of 370,000 cases handled by the counselling service suggests that youth unemployment and rising rents are key factors which cause people to fall into debt. 42% [...]

March 15, 2012 | 0 Comments More
UK households falling deeper into debt

UK households falling deeper into debt

UK households will find it increasingly difficult to service their debts in the coming years, according to a report by debt charity, Consumer Credit Counselling Service (CCCS). According to the charity’s research, an average of more than 23 per cent of households’ disposable income went towards interest payments on loans at the end of 2011. [...]

February 27, 2012 | 0 Comments More
Report reveals financial hardship for families

Report reveals financial hardship for families

A report by the Consumer Credit Counselling Service (CCCS) has revealed that many families could be pushed into debt in the coming months. In its 2010 Statistical Yearbook, the charity said higher rate tax thresholds, lower tax credits and higher interest rates could result in thousands of families facing severe debt problems. Families with three [...]

March 16, 2011 | 0 Comments More
Soaring bad debt hits credit card lenders

Soaring bad debt hits credit card lenders

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 [...]

September 1, 2010 | 0 Comments More
Debt charity warns of rise in repossessions

Debt charity warns of rise in repossessions

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 [...]

August 14, 2010 | 0 Comments More
Debt charity warns of impending repossessions rise

Debt charity warns of impending repossessions rise

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 [...]

July 20, 2010 | 0 Comments More
Some borrowers may never pay back debt

Some borrowers may never pay back debt

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 [...]

September 9, 2009 | 0 Comments More
‘Strict budgets’ the best route out of debt

‘Strict budgets’ the best route out of debt

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 [...]

July 29, 2009 | 0 Comments More