Archive for February, 2012

‘Debt Noose’ tightening around UK Households

Monday, February 27th, 2012

‘Debt noose’ tightening around UK households Despite reduced debt levels and low interest rates, UK households will find servicing their debts an increasing burden according to independent research published today by the debt charity, Consumer Credit Counselling Service. At the end of last year, the average household was paying almost £200 per month in interest, [...]

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Fuel ‘debt’ hits UK families

Tuesday, February 21st, 2012

Children’s charity Barnardo’s claims Britain’s poorest are failing to heat their homes in order save up to £450 a year. A few years ago £723 would have bought you year-round heat and light. But £723 is £450 below the average £1,165 needed to heat and power the average UK house annually, claims the charity in [...]

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Mums ‘skipping meals to feed their children’

Thursday, February 16th, 2012

One in five mothers across the UK is missing meals in order to feed her children, a new survey reveals.  Research by Netmums suggests that up to 70 per cent of families are on the financial brink and could face ruin if hit by further price hikes or falls in their income. A quarter of [...]

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British households still finding it hard to make ends meet

Thursday, February 16th, 2012

British households are finding it increasingly difficult to make ends meet after research revealed many more now barely have enough money to cope with everyday expenses.  The survey conducted by Legal & General showed that fewer than two fifths (39%) of households had money left over after paying their monthly bills.  This figure is 6% [...]

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TV presenter faces bankruptcy

Wednesday, February 8th, 2012

Former T4 presenter Miquita Oliver is facing bankruptcy after failing to pay a tax bill of more than £174,000, according to a firm of accountants. A statement from the firm, Baker Tilly confirmed that the HM Revenue and Customs had petitioned for the star to be declared bankrupt due to unpaid taxes on 11 November [...]

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Borrowers ‘shunning’ credit cards

Wednesday, February 8th, 2012

Demand for credit cards is “feeling the strain” as UK borrowers turn to other forms of finance, a report has said.  Households paid off some unsecured debts in 2011, but were still left with an average debt of about £7,900, PricewaterhouseCoopers (PwC) said.  But credit cards were facing a “mid-life crisis” as people used debit [...]

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UK Debt Statistics

Thursday, February 2nd, 2012

UK Personal Debt Outstanding personal debt stood at £1.451 trillion at the end of December 2011.   This is down from £1.454 trillion at the end of December 2010. Individuals owed nearly as much as the entire country produced in the four quarters between Q4 2010 and Q3 2011.   Outstanding secured (mortgage) lending stood [...]

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