Debt - News | moneyfacts.co.uk

News

Moneyfacts.co.uk News brings you the latest financial & economic news & reviews of the best products in the UK by our team of money experts.

Debt News Stories

Credit card debt among over-55s hits 6yr high

Updated: 11th October 2017 - First Published: 11th October 2017 Credit card debt can impact all ages, but it’s perhaps when approaching retirement that it becomes particularly worrying, which is why it’s so concerning that the amount of credit card debt held by over-55s has hit a post crisis high of £1,052. Read More...

Daily debt anguish impacts a third of Brits

Updated: 06th September 2017 - First Published: 06th September 2017 If you’re in debt, you’ve probably found that it’s never far from your thoughts. Indeed, new research has found that 33% of UK consumers worry about their finances at least once a day, with women, single parents and carers among the worst affected. Read More...

Credit card companies adding to problem debt

Updated: 30th August 2017 - First Published: 30th August 2017 There’s nothing worse than being stuck in a spiral of debt, yet with nearly one in five of those struggling with debt having had their credit limit raised without requesting it, it could be even harder to get out of the cycle. Read More...

“Generation debt” vulnerable to financial shocks

Updated: 02nd August 2017 - First Published: 02nd August 2017 It can be difficult to save at the best of times, but there are some generations that find it even tougher – so much so that concerns have been raised over the financial resilience of those aged 25-34. Read More...

11% of credit card holders maxed out

Updated: 29th June 2017 - First Published: 29th June 2017 A new study shows that a worrying number of Brits are becoming increasingly dependent on credit, and as a result, 11% have maxed out one of their credit cards. Read More...

Credit card interest cut for those in problem debt

Updated: 12th April 2017 - First Published: 03rd April 2017 Credit card debt can be tough to deal with, and companies haven’t been required to do that much to help. Happily, that could change: new rules could help those in persistent debt, which could even include interest and charges being waived. Read More...

Record numbers seek debt help

Updated: 28th March 2017 - First Published: 28th March 2017 There’s nothing worse than being in debt and not sure which way to turn, yet it seems to be a growing problem, with figures from a debt charity revealing that record numbers of people sought debt help last year. Read More...

Got credit card debt? Don’t pay more than you need

Updated: 01st March 2017 - First Published: 01st March 2017 If you’ve got a credit card, the last thing you want to be doing is pay more interest than you need. Yet that’s exactly what thousands of people are doing across the UK, and they’re missing out on some great deals in the process. Read More...

Brits owe more but pay less in interest

Updated: 19th January 2017 - First Published: 19th January 2017 New figures have revealed that, while Brits tend to have a high level of debt, they’re paying less in interest than at any time since 2003. The question is, will it last, and if not, can Brits’ credit commitments be comfortably maintained? Read More...

Millions are borrowing to buy essentials

Updated: 15th December 2016 - First Published: 15th December 2016 Many of us use credit from time to time, and when used wisely, it can be a valuable way to help make the most of your money. However, over-reliance on credit can be dangerous, particularly when people are forced to borrow to buy essentials. Read More...

Millennials losing sleep over debt

Updated: 18th November 2016 - First Published: 18th November 2016 Money worries can keep people up at any age, but new research has found that a staggering one in four adults under 34 have lost sleep over financial troubles. Many are feeling pressure not just from their bank account, but also their loved ones. Read More...

Would you go into debt to bag a bargain?

Updated: 16th November 2016 - First Published: 16th November 2016 It can be hard to resist the lure of a bargain, particularly at this time of year. However, while it should be a way to cut costs, it seems that some get carried away, and end up spending far more than they should – and get into debt as a result. Read More...

Overdraft charges add millions to problem debt

Updated: 12th October 2016 - First Published: 12th October 2016 Charges on unarranged overdrafts are spiralling, says StepChange Debt Charity, adding millions to problem debt – and there are calls for them to be capped as a result. Read More...

Debt problems hit record high

Updated: 08th September 2016 - First Published: 08th September 2016 Do you struggle with debt? You’re not alone. It seems that debt troubles are becoming increasingly prevalent, and in fact, research shows that the number of people seeking help with debt problems has already hit a record high in 2016. Read More...

Do you worry about debt? You’re not alone

Updated: 04th August 2016 - First Published: 03rd August 2016 Being in debt can be a difficult time. It can have physical as well as mental effects, with all that stress taking its toll on everything from general health to sleep and even relationships, and new research shows how much of an impact it can have. Read More...

Average Brit juggles £2,300 worth of debt

Updated: 18th July 2016 - First Published: 18th July 2016 Using credit can at times be a great way to balance the books, as long as you’re organised when it comes to repayments. Unfortunately, many people aren’t, and find themselves caught in a juggling act of unmanageable debt. Read More...

Concerns over the treatment of those in debt

Updated: 09th June 2016 - First Published: 09th June 2016 Being in debt can be a difficult thing to go through, but unfortunately, many people seem to be having that situation exacerbated by poor and inconsistent treatment by debtors – and it’s making their financial hardship even worse. Read More...

Are you in debt to the Bank of Mum & Dad?

Updated: 11th May 2016 - First Published: 11th May 2016 At some point or another we’ve probably all found ourselves in a bit of a financial pickle, and what better way to get out of it than to turn to the benevolent Bank of Mum & Dad? Read More...

Concerns growing about consumer reliance on credit

Updated: 16th March 2016 - First Published: 16th March 2016 New research from credit provider Sunny shows that 29% of UK adults have already used unsecured credit so far this year, fuelling concerns that many people could find themselves trapped in a cycle of unsustainable debt. Read More...

Credit card debt becoming urgent issue

Updated: 15th March 2016 - First Published: 09th March 2016 There are growing concerns over the extent of credit card debts, with research from StepChange Debt Charity finding that, rather than being used for short-term borrowing, credit cards are increasingly becoming long-term problems. Read More...

Growing debt fears for those who rely on credit

Updated: 14th December 2015 - First Published: 14th December 2015 A recent survey found that many consumers are relying too heavily on credit and are failing to put aside sufficient savings, but this could have long-term consequences – and our figures show just how easy it could be to get trapped in debt. Read More...

More people choose to deal with debt online

Updated: 30th November 2015 - First Published: 30th November 2015 If you’re struggling with debt, what’s your preferred method of management? A growing number of people seem to be heading online in the hopes of settling their debt without having to talk to anyone they owe money to. Read More...

Take control of debts ahead of Black Friday

Updated: 24th November 2015 - First Published: 24th November 2015 Are you hoping to snap up a great deal this Black Friday? Then you need to make sure that you don’t lose your head when it comes to your finances, as our data shows how much extra you could be spending if you don’t go about things the right way. Read More...

Could a £240 bill put you in the red?

Updated: 16th September 2015 - First Published: 16th September 2015 Balancing the budget is always a tricky task, and sometimes an unexpected bill can push you out of the black and into debt. But according to research, an average of just £240 could tip the balance away from being in credit. Read More...

Do you feel in control of your debt?

Updated: 07th May 2015 - First Published: 07th May 2015 Being in debt can be stressful, but the key to managing it is to stay in control. If you can do that, then credit can be used to great effect, and happily the vast majority appear confident in their ability to stay on top of their credit commitments. Read More...

Don’t lose sleep over your finances

Updated: 23rd April 2015 - First Published: 23rd April 2015 Being in debt can be a stressful time, so it’s little wonder that people lose sleep over it. But, just how much people lose could surprise you, with research finding that those with money worries lose an average of 2.1 hours sleep per night. Read More...

Household debt rising at fastest rate for 10yrs

Updated: 26th July 2017 - First Published: 10th February 2015 Household debt is increasing, and it’s rising at its fastest rate since 2004, new research has revealed. The figures show that households in the UK took on an average of £395 of additional consumer debt last year, the biggest increase in a decade. Read More...

Store card shoppers behind on payments

Updated: 25th August 2017 - First Published: 19th January 2015 Store cards and catalogue repayment schemes can be an appealing source of credit for shoppers. However, this type of credit can easily push you into debt, which could have consequences for your credit rating and future borrowing needs. Read More...

How much do you spend on debt repayments?

Updated: 03rd May 2017 - First Published: 14th January 2015 Paying off debt should be at the forefront of any financial plan, but some people find that they’re so entrenched that they spend a large proportion of their income simply making minimum repayments. So, just how much do you spend on debt? Read More...

Are you still paying off 2013 Christmas debt?

Updated: 04th November 2014 - First Published: 04th November 2014 Christmas may be the most magical time of the year, but paying for it can be a nightmare. People often turn to credit to fund the festivities, but that means many will be paying for it well into the new year – and some are still feeling the effects. Read More...

Have you got yourself in “social debt”?

Updated: 27th June 2017 - First Published: 25th June 2014 Do you feel obliged to take part in activities even if you perhaps can’t afford them? Do you feel embarrassed to say no, despite the fact it is going to mean overspending as a result? Read More...

Top tips to clear your debt

Updated: 05th June 2017 - First Published: 28th May 2014 It can be all-too easy to see debts mount up, but there are things you can do. We've put together a few top tips to help you clear your debt once and for all. Read More...

Do you worry about debt?

Updated: 16th October 2017 - First Published: 13th May 2014 Do you find yourself worrying about your finances? Is debt playing on your mind? Money problems can hurt a lot more than the pocket, as they increasingly affect people’s mental health. Read More...

Got spare cash? Then pay off your debts first…

Updated: 08th April 2014 - First Published: 08th April 2014 You’ve budgeted, paid all your bills, lived comfortably for the month and still have a bit of money left over by payday. Congratulations! But just what should you do with it? Well, paying off any debts would be your best bet. Read More...

More people relying on credit to pay for utilities

Updated: 07th April 2014 - First Published: 07th April 2014 Not only have consumers had to do battle with ever-increasing utility bills over the last few years, but it seems many could be putting themselves in even bigger financial difficulty by turning to credit to pay for them. Read More...

Looking to solve your debt problems?

Updated: 13th March 2014 - First Published: 13th March 2014 These days a lot of consumers find themselves struggling with mounting debts, but if you’re ready to take charge of your debt problems and tackle them responsibly, you need to find the best solution to meet your circumstances. Read More...

Getting on top of mounting debts

Updated: 04th September 2017 - First Published: 10th March 2014 With the rising cost of living, from paying the mortgage and energy bills to putting food on the family’s table, it seems debts are getting pushed down the priority list - something that could be costly in the long run. Read More...

Worried about debt? Then don’t wait too long

Updated: 20th January 2014 - First Published: 20th January 2014 Today marks the start of Debt Awareness Week 2014, and with many people still feeling the pinch after excessive festive spending it could be a great time to take a look at things. Read More...

Credit check your finances

Updated: 16th November 2015 - First Published: 15th January 2014 We’re two weeks into 2014 and hopefully you’ve already started to look at your finances for the year ahead, but what about your credit commitments? It’s vital to stay on top of things to make sure you don’t end up paying more than you need to. Read More...

A third of Brits to use credit to fund Christmas

Updated: 01st November 2013 - First Published: 01st November 2013 According to research from the Money Advice Service, one third (32%) of UK adults will turn to credit cards to pay for this year’s festive spend, highlighting the financial pressures that families face as they struggle to make ends meet. Read More...

Cut the cost of Christmas

Updated: 07th December 2016 - First Published: 26th September 2013 As Christmas creeps nearer, Moneyfacts.co.uk has listed the top ways you can cut the cost of this year’s festive season, from getting paid to switch bank accounts to taking out a credit card you won’t have to pay any interest on till 2015! Read More...

5 Christmas borrowing tips

Updated: 28th March 2017 - First Published: 08th November 2012 Christmas is coming and for many of us that means getting the credit cards out. If you really have to borrow to finance Yule, here are some practical tips. Read More...

The top five considerations when seeking credit

Updated: 11th May 2017 - First Published: 08th November 2012 A familiar air of excitement, panic and mild hysteria is beginning to fill high streets across the UK as the Christmas shopping season begins in earnest. Read More...

New laws to tackle debt

Updated: 20th June 2017 - First Published: 16th October 2012 New laws that will enable Government departments to share information on people and businesses that owe them money will soon be introduced. Read More...

Lower number of cardholders seeking debt help

Updated: 02nd October 2012 - First Published: 02nd October 2012 Fewer people are seeking help for credit card debt issues, as paying off existing credit takes priority. Read More...

Millions using credit to make ends meet

Updated: 12th September 2012 - First Published: 12th September 2012 As the cost of living rises a worrying number of people are turning to credit cards, overdrafts and even payday loans to cope with paying off their monthly bills. Read More...

Nearly a third expect to remain in debt

Updated: 05th September 2012 - First Published: 05th September 2012 Debt remains an ongoing issue for the majority of consumers in the UK, with eight out of ten people rating their level of financial stability as ‘fairly bad’. Read More...

Thousands keeping ‘debt affairs’ secret

Updated: 29th August 2012 - First Published: 29th August 2012 A shocking number of people are hiding debt issues from their partners, with secret debts totalling £41 billion. Read More...

Repossessions fall to two year low

Updated: 17th January 2013 - First Published: 09th August 2012 Fewer homes were repossessed during the second quarter of this year, suggesting homeowners are taking active steps to avoid falling behind on their mortgage payments. Read More...

Personal insolvencies down by 10.2%

Updated: 03rd August 2012 - First Published: 03rd August 2012 Despite the tough economic climate, latest figures have shown that fewer people are declaring themselves bankrupt. Read More...

Consumers warned over catalogue debts

Updated: 23rd May 2012 - First Published: 23rd May 2012 Consumers are being warned to be wary over running up large debts with catalogue companies. Read More...

People falling into payday loan ‘debt trap’

Updated: 18th May 2012 - First Published: 18th May 2012 The Government and regulators are facing calls to improve protection for customers falling into a ‘downward spiral of debt’ through payday loans. Read More...

OFT to crack down on misleading business names

Updated: 29th January 2013 - First Published: 20th April 2012 Businesses have been warned that they will not be allowed to use misleading trading names such as ‘helpline’ or ‘debtline’. Read More...

Consumers look to pay down debts

Updated: 14th December 2012 - First Published: 23rd March 2012 Consumers looked to give their finances a boost in February, with paying down debts the order of the day. Read More...

Debt management firms warned on future conduct

Updated: 22nd March 2012 - First Published: 22nd March 2012 The Office of Fair Trading (OFT) has warned debt management firms that they face losing their licences if they do not follow new guidance set out by the regulator. Read More...

First time buyer activity hits three year high

Updated: 07th March 2012 - First Published: 07th March 2012 First-time buyers looking to beat the stamp duty deadline on March 24 have boosted activity levels to a three year high. Read More...

Debt management and payday loans poorly regulated

Updated: 07th March 2012 - First Published: 07th March 2012 Parts of the credit market are ‘opaque and poorly regulated’ and require urgent attention, the Government has been told. Read More...

Debt affecting 70% of UK adults

Updated: 22nd January 2013 - First Published: 29th February 2012 More than two thirds of UK adults are thought to be having issues with debt, but millions are burying their heads in the sand over their problems. Read More...

Government debt soars to £1 trillion

Updated: 24th January 2012 - First Published: 24th January 2012 The Government borrowed less money in December than a year previously, but it could not stop national debt hitting the £1 trillion mark. Read More...

High redundancy figures fuel debt fears

Updated: 09th November 2011 - First Published: 09th November 2011 Fears are growing that debt repayment problems could be on the horizon for thousands of people after official figures revealed almost 300,000 people have been made redundant in 2011 so far. Read More...

Personal insolvencies fall

Updated: 04th November 2011 - First Published: 04th November 2011 Personal insolvencies in England and Wales fell slightly in the three months to September, but charities have warned that millions of people remain vulnerable. Read More...

Young Britons facing bleak financial future

Updated: 05th June 2017 - First Published: 02nd November 2011 Many young Britons are facing a bleak financial future, as they face increased debts and less chance of getting on the property ladder. Read More...

Debt collectors warned off targeting social media

Updated: 19th October 2011 - First Published: 19th October 2011 Debt collectors have been warned that they should not be pursuing people through social media to contact debtors. Read More...

Debt management crackdown continues

Updated: 11th October 2011 - First Published: 11th October 2011 Three more debt management firms have felt the wrath of the Office of Fair Trading (OFT) as its crackdown on the sector continues. Read More...

Call for tougher action on debt companies

Updated: 19th September 2011 - First Published: 19th September 2011 The Citizens Advice Bureau has called on the Government to get tough with fee charging debt management firms. Read More...

Inbetweener debt boosts financial education call

Updated: 05th September 2011 - First Published: 05th September 2011 A large number of 18 and 19-year-old ‘inbetweeners’ are beginning their adult life in serious debt. Read More...

Financial woes on the rise

Updated: 01st July 2011 - First Published: 08th June 2011 The number of people experiencing financial problems is on the rise with 8 million people in overdraft debt every month. Read More...

Debtors working until mid-week just to pay debts

Updated: 06th June 2011 - First Published: 06th June 2011 People struggling to pay off debts are working until late on Wednesday each week just to earn enough to repay their unsecured borrowings. Read More...

Consumers choose to save and lower debts

Updated: 25th May 2011 - First Published: 25th May 2011 Consumers are choosing to save more and pay off their debts as concerns about the economy continue to play on their minds. Read More...

Repossession warning over household finances

Updated: 12th May 2011 - First Published: 12th May 2011 Mortgage borrowers have been told they must get their finances in order before the base rate starts to rise to avoid being caught unaware by higher monthly mortgage costs. Read More...

OFT cracks down on debt websites

Updated: 11th April 2011 - First Published: 08th April 2011 The Office of Fair Trading (OFT) has announced a large scale crackdown on websites that sell on details of people in debt. Read More...

Debt proving a heavy burden for families

Updated: 16th March 2011 - First Published: 15th March 2011 Job losses and reduced income from work mean that many households will struggle to pay their debts in the months ahead. Read More...

Savings suffer as debts paid off in record amounts

Updated: 08th March 2011 - First Published: 07th March 2011 The borrowing habits of Britons have taken a turn for the better after 2010 was revealed to be a record year for consumers repaying their debts. Read More...

Citizens Advice calls for ban on debt cold calls

Updated: 03rd March 2011 - First Published: 03rd March 2011 The Citizens Advice Bureau has called for a ban on cold calling that can trick people in debt out of their money. Read More...

Personal insolvency numbers soar

Updated: 04th February 2011 - First Published: 04th February 2011 Last year saw the highest number of people declared insolvent in England and Wales since records began in 1960. Read More...

Thirty-five debt management firms shut down

Updated: 28th January 2011 - First Published: 28th January 2011 Thirty five debt management firms have surrendered their licences as a result of a crack down by the Office of Fair Trading (OFT). Read More...

Debt perceptions spiralling out of control

Updated: 08th March 2011 - First Published: 14th January 2011 The level of debt at which Britons consider themselves to be in serious financial difficulty has soared above £15,000, new research has revealed. Read More...

Insolvency numbers remain stubbornly high

Updated: 05th January 2011 - First Published: 05th January 2011 The number of people being declared insolvent fell last year, but still remains stubbornly high. Read More...

Surge in under 25s seeking money help

Updated: 09th February 2012 - First Published: 16th November 2010 Young people are increasingly looking for advice and guidance to help them through their money troubles. Read More...

The calm before the debt storm

Updated: 08th March 2011 - First Published: 10th November 2010 There are fears that the debt crisis might be about to escalate again, despite the recent drop in the number of personal insolvencies. Read More...

Parents lose faith in debt-free future

Updated: 04th November 2010 - First Published: 02nd November 2010 Despite the focus on responsible lending following the financial crash, many parents still feel that in the future it will be easier for their children to get into debt than it was for them. Read More...

Debt firms seeking to exploit vulnerable people

Updated: 08th March 2011 - First Published: 28th September 2010 More than a hundred debt management firms face closure after an investigation found vulnerable people were being misled and exploited for money. Read More...

Personal debt pervades British minds

Updated: 08th March 2011 - First Published: 24th September 2010 The effects of the financial crisis continue to weigh on consumers’ minds, with almost 19 million worried about the levels of their debt. Read More...

Arrears cases continue to drop

Updated: 08th March 2011 - First Published: 14th September 2010 The number of homeowners struggling to keep on top of their mortgage repayments has fallen for the sixth quarter in a row. Read More...

Jobless trapped by massive debts

Updated: 14th August 2017 - First Published: 06th September 2010 Huge numbers of people claiming Jobseeker's Allowance (JSA) owe thousands of pounds in unsecured debt that they have no chance of repaying. Read More...

Britons keep financial woes a secret

Updated: 08th March 2011 - First Published: 01st September 2010 Britons finding themselves in financial difficulties are choosing to keep their problems a secret from their providers. Read More...

Debt problems hitting the self employed

Updated: 08th March 2011 - First Published: 27th August 2010 Debt problems are on the rise amongst self employed workers who have seen business suffer as a result of the economic downturn. Read More...

Debt fears rise as Budget hits poor the hardest

Updated: 08th March 2011 - First Published: 25th August 2010 As a result of the coalition Government’s first Budget changes, it is predicted that the worse off families could lose over 5% of their income. Read More...

Don’t let debt problems get you down

Updated: 08th March 2011 - First Published: 13th August 2010 The recession might officially be over but the fallout from the downturn continues to impact the lives of many, particularly with regards to how people are choosing to manage their finances. Read More...

Energy bills could push people into debt

Updated: 08th March 2011 - First Published: 28th July 2010 Rising costs of utility bills could force people into a spiral of unmanageable debt, it has been warned. Read More...

Suffering under the burden of 'never ending' debt

Updated: 14th December 2016 - First Published: 21st July 2010 Debt problems are putting a huge strain on people’s close relationships, their health and their ability to carry out their jobs, according to The Consumer Credit Counselling Service (CCCS). Read More...

Credit report boost for consumers

Updated: 09th October 2015 - First Published: 12th July 2010 Consumers will now have easier access to their credit reports after an agreement was struck between the Government and the credit reference industry to raise awareness of the importance of checking credit records. Read More...


Currently showing results -9 - 0 of 92
Go to Page: 1 | 0 | 1 | 2 | 3 | 4 | ... 10 Next Page
 
 
Close