July 29th, 2011 The banking giant Santander has set aside 620m euros (£548m) to cover the costs of mis-selling payment protection insurance (PPI) in the UK. The Spanish bank is the latest to outline the one-off amount to cover the cost of compensation for mis-selling the loan insurance.Lloyds Banking Group set aside £3.2bn to cover [...]
August 19th, 2011 Despite the weak growth figures and summer holiday season inflation continues apace. In fact, the UK government’s targeted rate of inflation rose in July, following higher prices for clothing and footwear and fees for financial services.The rate of Consumer Prices Index (CPI) inflation rose to 4.4% from 4.2% in June, according to [...]
June 12th, 2011 This week, UK interest rates were kept at the record low of 0.5% again by the Bank of England’s Monetary Policy Committee. Economists had widely expected the decision, as recent data has underlined worries about the strength of the UK’s recovery.The decision comes despite the annual rate of inflation rising to 4.5% [...]
June 5th, 2011 The cost of going bankrupt increased by £75 to £525 at the beginning of June leading debt experts and other analysts to suggest that the cost could discourage people with debt or other financial problems from seeking help.If you include the court fee necessary to complete the process, going bankrupt now incurs [...]
June 28th, 2011 A new sense of fiscal responsibility has been seen on the UK high street as credit card use fell last year as people turned to cash and debit cards to avoid borrowing, according to the nation’s shopkeepers.The British Retail Consortium (BRC) which represents 90% of the UK’s stores, say transactions involving credit [...]
May 25th, 2011 The recent case of of a man being let off a credit card debt after being ‘tortured’ by his creditor has highlighted an important issue for borrowers and lenders. Some courts are siding with people in debt if their lenders, such as credit card companies, have failed to abide by the strict [...]
June 28th, 2011 A new sense of fiscal responsibility has been seen on the UK high street as credit card use fell last year as people turned to cash and debit cards to avoid borrowing, according to the nation’s shopkeepers.The British Retail Consortium (BRC) which represents 90% of the UK’s stores, say transactions involving credit [...]
May 28th, 2011 An investigation by the BBC has found that some debt management companies have been holding on to clients’ cash rather than paying it to creditors. The practice has left heavily-indebted families thousands of pounds worse off.The Office of Fair Trading (OFT) has condemned the practice as “totally unacceptable” and promised a crackdown.One [...]
June 12th, 2011 This week, UK interest rates were kept at the record low of 0.5% again by the Bank of England’s Monetary Policy Committee. Economists had widely expected the decision, as recent data has underlined worries about the strength of the UK’s recovery.The decision comes despite the annual rate of inflation rising to 4.5% [...]
June 5th, 2011 The cost of going bankrupt increased by £75 to £525 at the beginning of June leading debt experts and other analysts to suggest that the cost could discourage people with debt or other financial problems from seeking help.If you include the court fee necessary to complete the process, going bankrupt now incurs [...]
July 29th, 2011 The banking giant Santander has set aside 620m euros (£548m) to cover the costs of mis-selling payment protection insurance (PPI) in the UK. The Spanish bank is the latest to outline the one-off amount to cover the cost of compensation for mis-selling the loan insurance.Lloyds Banking Group set aside £3.2bn to cover [...]
July 9th, 2011 In one of the more bizarre financial stories of recent weeks, HSBC bank has been forced to write off a customer’s overdraft after a judge decided it had harassed her with hundreds of phone calls and then unlawfully imprisoned.The lady won her civil case against the bank at Swindon County Court when [...]
July 17th, 2011 The Office of Fair Trading (OFT) this week announced plans to tackle dishonest credit brokers that demand upfront fees for loans they have no intention of arranging. Firms found engaging in the scam practice will be closed down for the protection of consumers.The measure is part of a general crackdown by the [...]
Honor All Customers as Our GuestAngela Gioia of Embrace Home Loans – I got the customer satisfaction survey about my experience working with you and just want you to know I have never dealt with anyone who did so much to keep things moving, especially with all that was going on around here. I don’t [...]
June 19th, 2011 In the latest news from the ongoing battle between consumers and large financial institutions, Barclays has said it will pay out compensation to everyone to whom it sold payment protection insurance and who made a complaint before 20 April.Customers will be reimbursed the total value of all premiums plus 8% interest. The [...]