A new report by think tank Demos has claimed that millions of consumers are now living in ‘credit deserts’. The Good Credit Index Report says consumers are finding that high credit need is overlapping low affordable credit provision making it extremely difficult for them to access the credit they need with an affordable rate of …
Personal insolvencies are on the rise across the UK, affecting more woman than men according to new figures. Research by the trade body R3 has shown insolvencies among women has risen from 30% in 2000 to 54.3% last year. Debt relief orders The increase was revealed after the way insolvencies are recorded. The figures no …
As we approach the start of the third decade of the 21st century official figures show almost a third of all people renting in the private sector are struggling to make their payments. New data from the English Housing Survey shows 29% said they found it either ‘fairly difficult’ or ‘very difficult’ to pay their …
If you’re not already a member of the super-rich, achieving your lifetime goals and enjoying a good standard of living is impossible to achieve without learning how to handle the money you have at your disposal. No-one wants to be stuck in debt and the best way of avoiding the scenario is to develop good …
New figures show that the cost of fraud for both businesses and individuals in the UK has now reached a staggering £130 billion a year. Globally the cost has been calculated at £3.89 trillion. The report, by risk advisors Crowe, said that while fraud awareness has improved among businesses their approach to the threat has …
Fraudsters have ripped off the government’s flagship Universal Credit benefit scheme for an estimated £20 million by making bogus applications. But, worse still, their fake claims were matched up to real benefits claimants who have found themselves thousands of pounds in debt through no fault of their own. Loophole The scammers have been taking advantage …
Continue reading “Bogus Universal Credit claims rake in millions”
The cost of childcare over the school summer holidays is driving families into debt and is particularly difficult for those on Universal Credit says a new report by Save The Children. The charity says parents are being driven into debt as their childcare costs soar when their children are off school. Up to £800 a …
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Thousands of vulnerable borrowers are being pushed into high cost debt through the use of ‘credit builder’ credit cards claims the debt charity StepChange. The cards are designed to help people with poor credit scores, but many of them are being used to pay everyday living costs. Sub-prime cards Officially known as sub-prime cards, they …
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MPs have slammed the proposed roll-out of Universal Credit, saying thousands of claimants could be pushed into debt or made homeless if problems aren’t fixed. The controversial scheme has been designed to replace six existing benefits – Job Seeker’s Allowance, housing benefit, children’s tax credit, working tax credit, income support and employment and support allowance …
Continue reading “Universal Credit creating debt and homelessness say MPs”
Millions of Britons are sitting on top of a ‘social care financial time bomb’ which could drain their life savings and leave nothing for their children to inherit. A new report from the Association of British Insurers (ABI) says 8 in 10 people over 65 have made no plans about how they will pay for …
Continue reading “Millions in danger from social care ‘time bomb’”