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Debt Consolidation Advice, Help and News from Debt Advisers Direct

• Government warns about rising credit card debt March 5, 2010
  The latest figures from the Bank of England (BoE) have shown that in January, the country`s total credit card debt stood at £61.5bn, the Press Association reports. At question time, Tory Lord Marlseford told peers that the total amount of credit card debt in January was £8bn higher than it was a year earlier. He went on to say that "the current int […]
• Debt - the 12-month view March 4, 2010
  In January, UK citizens - between them - borrowed £500 million more than they repaid, in terms of unsecured debt (credit cards, unsecured loans, etc.). After we repaid so much debt last year, this may come as a surprise. We repaid more than we borrowed in seven months of 2009 - when 2010 started, our unsecured debts were worth nearly £8 billion less than […]
• Amount of `bad debt` written off reaches 16-year high March 3, 2010
  The latest figures from the Bank of England (BoE) suggest that individuals and businesses defaulted on £6.1bn worth of mortgages and loans during the final quarter of 2009 - the highest amount since 1993, when the figures were first collected in this format, the Telegraph reports. Although bad debts on mortgages and credit cards did fall slightly, there wa […]
• Deeper into debt: middle-class poverty March 2, 2010
  The recession has also affected a lot of people with comfortable lifestyles, an article in The Independent reminds us. The article is largely based on the experiences of Andrew Newbury, a Manchester-based family solicitor who handles divorces. Mr Newbury explains that `a growing number` of people with a comfortable lifestyle (detached home, two cars, nice h […]
• Debt taken on by individuals increased in January March 1, 2010
  According to the latest figures from the Bank of England (BoE), the total amount of debt owed by individuals increased by £2.0bn in January. The figures revealed that the annual growth rate in the amount of debt taken on by individuals increased to 0.8%. Within the total increase, the amount of debt secured on dwellings rose by £1.5bn. This was above the […]