News

Last month the Treasury Committee released its report on Household finances. On Debt. Among some of its key findings it reported that many households lack a ‘rainy day’ savings buffer and were over-indebted. It also found that ‘uncompromising’ local and central government debt collection should be reformed and the Financial Conduct Authority (FCA) should move ...

Payday lender, Wonga, the short-term loan provider, has been talking with accountancy firm Grant Thornton to handle a potential administration of the company, should its board believe it is unable to avoid falling into insolvency, come only weeks after shareholders injected £10mllion into the business to save it from going bust. The report from Sky ...

What is the Debt Arrangement Scheme (DAS)? DAS is a Scottish Government-backed debt management scheme. The scheme allows you to repay your debts through a Debt Payment Programme (DPP). Launched in November 2004 it is only available in Scotland They are often designed as a ‘ legally binding Debt Management Plan.’ which helps you repay ...

Over 30% of ‘Loan Searches’ are for debt consolidation. Recent research from a leading comparison site has shown that over 30% of loan searches for the past two years have been for loans for debt consolidation The credit score site Experian have said that those consumers have an average score of 749, which is in ...

The charity, the Citizen’s Advice Bureau(CAB) recently revealed the struggle that many households and families face with rising costs and their ability to pay household bills.  Its recent statement showed the hidden mountain of debt in unpaid bills, standing at nearly £19bn. Behind this mountain of debt, much of it owed to the state in ...

CAB, the Citizen’s advice bureau has estimated that UK households have a hidden debt mountain of almost £19bn.  This is thought to be the amount households owe in missed council tax payments, utility bills and overpaid benefits. The charity say that missing bill payments has overtaken worries about spending on credit cards and has become ...