Residents of Wales are among the most likely in the UK to be seriously overstretched financially according to the latest research from leading debt management provider Chiltern.
Nearly one in 25 people who live in Wales say their finances are seriously overstretched, almost double the UK average and second only to Lancashire.
However, Welsh people are also [...]
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Category Archives: Blog - Chiltern Press
Welsh finances seriously overstretched
Chiltern Debt Monitor December 08
The average level of debt owed by a customer on a Chiltern debt management plan is down by over £1000 pounds since the beginning of 2008 and currently stands at its lowest amount since the Chiltern Debt Monitor started in 2007.
However people can afford to repay less than they could at the beginning of the [...]
Chiltern gets stamp of approval from the OFT
Debt specialist Chiltern has been given the stamp of approval by the Office of Fair Trading (OFT), through its trade body, the Debt Managers Standards Association (DEMSA).
They have been recognised by the OFT’s Consumer Code Approval Scheme – an initiative to promote and safeguard consumer’s interests by identifying, monitoring and rewarding better business practice.
Chiltern are [...]
Yorkshire folk financially better off than people in Lancashire
Yorkshire folk are among the most financially comfortable in the UK and half as likely as people in Lancashire to struggle with their money according to research from leading debt management provider, Chiltern.
Only one in 15 Tykes said their finances were a struggle compared to one in seven in Lancashire and one in nine nationally.
Nearly [...]
Chiltern Debt Monitor April 08
The average level of debt of someone on an informal debt management plan has fallen below the £26,000 mark for the first time and is now at its lowest amount since the Chiltern Debt Monitor started.
Chiltern Debt Monitor April 08
Average level of debt: £25,945
Average age of debtor: 44
Yearly gross income: £23,444
Male: 42%
Female: 58% Average number [...]
Chiltern Debt Monitor January 08
Since August 2007 the average yearly income of someone on an informal debt management plan has risen by nearly £3,000 from £20,540 to £23,432 while debt levels have decreased by more than £300 from £26,662 to £26,344.
Six month review
Average level of debt: £26,344
Average age of debtor: 44
Yearly gross income: £23,432
Male: 43%
Female: 57% Average number of [...]
Chiltern Debt Monitor November 07
The November Chiltern Debt Monitor reveals that over the last month the percentage of wages that debtors can afford to offer creditors has fallen by one per cent to 17 per cent, but the amount they are contractually obliged to pay has remained the same at 67 per cent.
Chiltern Debt Monitor November
Average level of debt: [...]
Chiltern Debt Monitor October 07
The impact of a tightening credit market and interest rate rises is creating a greater interest in debt management programmes but too many consumers are still struggling with their debts…
Average level of debt: £26,537 Average age of debtor: 43 Yearly gross income: £23,416 Male: 42% Female: 58% Average number of creditors: [...]
Men 20% deeper in debt than women
Men seeking help to manage their finances have 20 per cent more debt than their female counterparts
Men seeking help to manage their finances have 20 per cent more debt than their female counterparts and can afford to repay less to their creditors each month as a percentage of their contractual debt repayments according to Chiltern.
The [...]
Chiltern Debt Monitor reveals debtors can only afford 26 per cent of contractual payments
Chiltern Debt Monitor September 07
Average level of debt: £26,608
Average age of debtor: 43
Yearly gross income: £23,535
Male: 42%
Female: 58%
Average number of creditors: 8
Affordable payments as a % of contractual payments: 26%
Monthly living costs: £1,083
Monthly disposable income: £231
No of months to be debt free: 145
The first Chiltern Debt Monitor reveals that, on average, debtors who enter into [...]
Britain’s overindebted in denial
Nearly four million Britons are officially overindebted
Nearly four million Britons are officially overindebted (2) but two-thirds of them are in denial according to research from leading debt management specialist Chiltern.
Its research revealed that one in 16 people in the UK spends more than 25 per cent of their wages paying off unsecured debts each month [...]
Southerners most likely to struggle with their finances
Southerners are more likely than any other region of Great Britain to struggle with their household finances according to research from Chiltern Debt Management.
One in six Southerners said their finances were a struggle, more than double the number in the North East (one in 16) and compared to a UK average of one in nine.
The [...]
North East: lowest number struggling financially
Residents in the North East are half as likely to struggle with their finances than the UK average according to research from Chiltern Debt Management.
Just one in 16, the lowest in the UK, said their finances were a struggle, against one in six in the South and one in nine throughout the UK.
However, the research [...]
Scots say finances healthy but are they?
Scots are less likely to struggle with their money than elsewhere in the UK, but the least likely to pay off their credit and store card debts in full each month, according to research from Chiltern Debt Management.
Only one in 12 Scots says their finances are a struggle compared to a UK average of one [...]
Midlanders most likely to miss card payments but deny they're overstretched
Midlanders are the most likely in the UK to miss their credit or store card commitments, but among the least likely to say their finances are “seriously overstretched” according to research from Chiltern Debt Management.
Over four times the UK average, one in 37 compared to one in 167, declared that they had missed some of [...]