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Debt Consolidation Advice, Help and News from Debt Advisers Direct
- Consumers took on more mortgage debt in July August 26, 2010Consumers took on £2bn more mortgage debt than they repaid in July, according to the latest figures from the British Bankers` Association (BBA). This represented a 4.1% annual increase in net mortgage lending by banks, the report adds. Gross mortgage lending came to £8.4bn in July, but this was down on the £8.6bn seen both a month earlier and on average […]
- Debts called in by parents August 26, 2010According to research, `the bank of Mum and Dad` is now calling in its debts - as parents ask for larger amounts of money back from their children, The Telegraph reports. The findings revealed that one in 10 grown-up children either gave or lent, on average, £8,250 to their parents last year. This figure is £1,750 higher than it was in 2008. More than on […]
- Teenagers `scared of debt` August 19, 2010Nearly two thirds of teenagers are `scared` of debt, according to a survey for discount website MyVoucherCodes.co.uk. Fully 64% of 1,482 teenagers (aged 14-17) questioned said that they`re actually scared of debt. 53% said they don`t trust lenders. 21% said that they didn`t plan to take out a loan or have a credit card - ever. Of the people who didn`t wan […]
- Rising household costs could pressure people in debt August 10, 2010The UK may be about to see a rise in food price inflation that could put extra pressure on already-stretched household finances, The Independent reports. Kantar Worldpanel, a market research firm, has forecast a rise from 2% to 4% in grocery-price inflation by the end of the year. The firm attributes this to growing wholesale prices of things like wheat an […]
- Pensions debt may impact workers` retirement funds August 5, 2010According to a report by actuaries LCP, an entire generation of workers may be left with little money to retire on because companies haven`t reduced their pension debts, lv.com reports. £17.5bn was paid into employee pension pots by large firms during 2009 - which helped slash the top 100 firms` overall pension debt by around 50%, to £51bn. However, as t […]