Britain’s unsecured debt mountain has reached a new record of £428 billion, according to research done by the TUC. The investigation showed that non-mortgage debt rose by an average of £886 per household to £15,385. Highest ever The TUC arrived at its figure by adding up all forms of unsecured lending including credit cards, store …
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The energy price cap which came into force on New Year’s Day is expected to save millions of people across the UK £76 a year on their energy bills. But consumer groups claim householders could save even more money by switching their supplier. Typical Regulator Ofgem says the new cap means that a dual fuel …
It has emerged that a number of American-owned payday lenders have stepped into the gap left by the collapse of market leader Wonga last year. Wonga, which once considered listing itself on the US stock market for $1 billion, went out of business in September last year after admitting it could not cover the amount …
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Experts say Britain is in the grip of a debt crisis with millions of people struggling to pay their day to day bills. Europe’s largest debt collector Intrum says more than a quarter of Britons don’t have their finances under control with parents struggling to make ends meet. Falling into debt Debt charity StepChange reported …
So you had a great Christmas with lots of nice presents, delicious food and plenty of partying with family and friends – but has it all left you with a Christmas debt hangover? We all love to have a good time over the festive period and are often too busy enjoying ourselves to be worried …
A new survey has claimed that 1 in 10 Brits will never be able to clear their debts as borrowing hits record levels. The poll by Money Supermarket found that household debt in the UK is ‘worse than at any other time on record. Emergency situation Spokeswoman Sally Francis-Miles commented: “Some debts are entered into …
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Plans unveiled by energy regulator Ofgem could cut £45 a year from energy bills across the country. The strategy involves capping the amount of money suppliers can pay their investors, reducing borrowing costs and a range of measures already announced to reform the way the network charges are passed on to consumers. Rate of returns …
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Millions of elderly and vulnerable people could suffer as Britain sleepwalks into becoming a cashless society claims a new study. A report by former Chief Ombudsman Natalie Ceeney says banknotes and coins are a necessity for eight million people. Concern was also expressed for people living in rural areas or struggling with debt. The Access …
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Centrica, owner of British Gas, has claimed the government’s new energy bill price cap will cost it £70 million in the first quarter of 2019. In a trading update the firm said it had lost 372,000 customers in the third quarter of this year after increasing their prices twice since January. On track Chief executive …
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The government has no chance of meeting its 2020 deadline for fitting more than 46 million smart meters claims the National Audit Office (NAO). In a report officials said there was ‘no realistic prospect’ of the deadline being met, despite government assurances that the job would be completed on time. Slowing Official figures show the …
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