The Office of Fair Trading (OFT) has warned that debt collectors may be pursuing people on social networking sites such as Facebook and Twitter.
Numerous complaints have been received by the OFT from people with debt problems, who say they are being chased for what they owe online.
The main concern for the OFT is [...]
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Monthly Archives: October 2011
People with debt problems targeted on Facebook, OFT warns
Rising rent debt problems reported in West Cheshire
An increasing number of West Cheshire residents have reportedly sought debt help for rent arrears in the last few months.
The West Cheshire Citizens Advice Bureau (CAB) reportedly that over the last three months, nearly 200 people had sought debt advice and help in relation to paying their rent. The average debt was around £900 [...]
4% rise in personal bankruptcy reported in Scotland
New data has revealed that the number of people facing personal bankruptcy in Scotland has risen by as much as 4 per cent in the last year.
The Accountant in Bankruptcy (AiB) published the figures, which showed that in the second quarter of 2011, there were a total of 5,378 personal bankruptcy cases reported. This [...]
Halifax accused of fuelling credit card debt problems
The building society Halifax has been accused of acting irresponsibly in encouraging families to rack up debt problems, after a letter was sent to customers recently advising that they take out cash on their credit cards.
According to the Mail Online, letters were sent by the bank to customers in which they were encouraged to [...]
US students facing debt problems and high unemployment
According to official sources, students and graduates of US universities are currently facing a double whammy of financial and career problems, as their debt problems are mounting and unemployment rises.
The Federal Reserve Bank of New York claims that student debt problems have rocketed in recent years. Since 1999, the total amount owed by students [...]
Two men die in row over debt problems
An investigation has been launched into the deaths of two men in the tiny village of Westbury-sub-Mendip in Somerset in a row over debt problems totalling £40,000.
It is understood that 46-year-old businessman Michael Harper turned up unexpectedly on the doorstep of millionaire Ray Master’s Somerset home and shot him numerous times in front [...]
Risk of debt problems as households spend 67% of income on essentials
New research has revealed that on average, households in Britain are spending as much as 67 per cent of their yearly income on essential living costs. These ‘basics’ include rent and mortgages, utility bills and food.
The stockbroking and advisory firm Oriel Securities produced the research, which also revealed that the amount Brits spend on [...]
Michelin-starred chef faces bankruptcy
A Michelin-starred chef has been forced to close down his hotel business in Aberdeenshire after a row over an unpaid bill apparently pushed him into bankruptcy.
Ian Simpson, the former manager of the Glenkindie Arms Hotel near Alford, is now said to have disappeared over the incident. Before vanishing, he spoke to local newspaper the Aberdeen [...]
Woman jailed for stealing £22k to pay off debt problems
A woman from the Leeds market town of Pudsey has been sentenced to three years in prison after she was caught defrauding elderly people in order to tackle her mounting debt problems.
Janet Parker, 55, was accused in Leeds Crown Court of a number of fraudulent acts, including forging signatures and taking out credit cards [...]
Families face water bill debt problems as prices rise
According to thisismoney.co.uk, the number of people experiencing debt problems because of rising water bills has increased considerably in the last 12 months.
The latest figures reveal that as many as 61,232 UK households have now moved on to Government schemes such as the Watersure tariff, which ensures that bills for families who are experiencing [...]
Crisis over debt problems reported in Southport
According to a prominent consumer credit charity, the people of Southport in Merseyside could be facing a serious crisis when it comes to their debt problems.
The Consumer Credit Counselling Service (CCCS) warned that it has noticed a rise in the number of people seeking debt help in recent months. The charity, which deals with unsecured [...]
PM’s backtrack on call for people to tackle debt problems makes front pages
The Prime Minister David Cameron reportedly re-wrote part of his closing speech for the Conservative Party conference in Manchester, but what he originally wrote has nonetheless made the front pages of national newspapers.
According to the Guardian, the Daily Mail and the Daily Telegraph, the Prime Minister was to address the problem of personal debt [...]
Household debt problems revealed in October debt stats
The latest figures for household debt in the UK have been published, and the true extent of the nation’s debt problems up to the month of October has been revealed.
The statistics, which were published by the financial education charity Credit Action, show that the average debt per UK household currently stands at £55,822. This [...]