Despite the fact that the UK has officially left the recession behind and we are apparently on the road to recovery, there is still a rising problem with personal debt through personal loans and credit cards, even amongst those individuals who are in a stable job in full time employment.
As personal loan debts increase, a [...]
We reported recently, that the latest figures published by the insolvency service have revealed a significant increase in the number of individuals entering into bankruptcy, or taking out an Individual Voluntary Arrangement (IVA) due to not being able to manage their personal loan and credit card debts.
It is believed that a large number of individuals [...]
High levels of borrowing by consumers ion personal loans, home owner loans and credit cards over recent years, is starting to take its toll on individuals in the UK, as the latest figures are released by the insolvency service.
According to the latest insolvency service figures, the number of personal insolvencies reached a record high level [...]
One of the most popular reasons for taking out a new personal loan in recent years has been for debt consolidation, where a borrower pays off his or her existing debts with one large debt consolidation loan, in order to manage their monthly outgoings and in many cases actually save money by taking out a [...]
We reported recently on how individuals in the UK have changed their attitude towards their finances, with regard to savings and taking out new personal loans and how, although people were attempting to save some money, there was a greater focus on repaying existing debt on loans and credit cards.
A new survey has found that, [...]
Levels of personal debt on personal loans and credit cards in the UK have reached record levels and, although many individuals are attempting to repay their loan debts early, the average amount of personal debt is still on the increase.
The effects of the credit crunch and recent recession have pushed the problem into sharp relief, [...]
Over the course of the past couple of years or so, the number of individuals getting in to financial difficulties on their loans and credit card repayments has increased dramatically. In many cases this has been down to things such as a person losing their job, or being made redundant due to the recession.
But now, [...]
