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Avoid Common Debt Collection Practices

Debt collection has become an issue with some consumers. Generally, debt collection procedures do not begin until after the lender has tried a variety of ways to get paid what is owed them. Some of the more common methods that lenders use include sending letters of delinquent payment and perhaps placing phone calls to the [...]

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MPC Holds Interest Rates

The Bank of England's monetary policy committee (MPC) has opted to leave interest rates unchanged for the remainder of this month, it has emerged.Standing at 5.25 per cent, the base rate of interest attached to mortgages, loans and other forms of borrowing is to stay consistent until the MPC's next meeting in early April. The [...]

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Consumer Credit ‘Set To Fall’

The consumer credit sector is on track for a downturn over the course of 2007, new figures indicate.According to research conducted by Datamonitor, the amount of money the public borrows - whether this is through secured loans, overdrafts or credit cards - is set to continue to fall over the remainder of this year. The [...]

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Credit Card Debt Reduction Services

Credit card debt reduction services are becoming more popular as more people find themselves in financial trouble. Consumers who believe that credit card debt reduction services may be an option for them should first do some homework. Two things are important before signing up with any company. The first is to know exactly what it [...]

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Repossessions And Arrears ‘To Rise’ In 2008

The Council of Mortgage Lenders (CML) has warned that mortgage arrears and repossessions will increase in 2008, suggesting consumers having trouble with their finances may wish to take out a debt consolidation loan before debt repayments become unmanageable.Michael Coogan, CML director general, has said that the approaching period for the mortgage and housing market could [...]

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Graduates ‘Face Debt Sentence’

Young people are delaying buying a home and starting a family as they face an increasing "debt sentence" after leaving university, it has been suggested.According to a study carried out by uSwitch, those graduating from higher education this year will owe a total of 3.2 billion pounds via student borrowing, more than twice the 1.2 [...]

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Britain Needs ‘Better Education On Borrowing’

More Britons need to be educated when it comes to managing their money, an industry expert has claimed.Speaking earlier this week, Chris Tapp, deputy director of Credit Action, stated that the effect of the five interest rate rises implemented by the Bank of England's monetary policy committee (MPC) since August last year is set to [...]

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