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Latest news
Unsecured debt rose £200m in May
This May, the amount of unsecured debt being carried by individuals rose by £200m, the Bank of England tells us .
Every month, it publishes its `Lending to Individuals` statistics, showing us how much debt people took on or repaid in the previous month.
Debt Snapshot reveals record numbers in financial distress
The recent Personal Debt Snapshot from insolvency trade body R3 reveals some worrying figures, like the fact that six million people are behind on some of their payments and bills. That`s an increase of two million in just three months.
It also indicates that eight million people will use their overdraft this month - and that two million of them will do so without first having their overdraft authorised.
Food or fuel? For some, it`s a real question
When money`s tight, we can all have to make tough choices - but some decisions are a lot harder to make than others.
A report just published by the IFS ( Institute for Fiscal Studies )has revealed that retired households spend an extra 7% on their heating when it`s very cold. What`s particularly disturbing is the fact that the poorest 25% of retired households reduce their spending on food by the same amount at the same time.
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Latest news
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£60 billion of mortgage debt `shifted to interest-only deals`
Around 300,000 households owing a combined £60 billion have switched to an interest-only mortgage deal in the last three years, statistics from the FSA (Financial Services Authority) show. ... -
Cost of running a home at most expensive level since 2008
According to Halifax, the cost of running a home has reached its highest level since 2008, the Independent reports. Halifax found that the annual costs associated with owning and ... -
Company insolvencies rise
The number of company liquidations rose over the first three months of the year, figures from The Insolvency Service have revealed. In the first quarter of the year (Jan-Mar), ...