Archive for August, 2008
Sunday, August 31st, 2008
Research from leading accountants Grant Thornton has shown that the total amount owed by UK consumers in the form of mortgages, loans and credit cards has increased by 7.3% in the 6 months preceeding June. The figure now stands at nearly £1.5 trillion.
During the same six months, the UK's Gross Domestic Product (GDP) only increased by ...
Posted in Credit crunch, Debt | No Comments »
Friday, August 29th, 2008
Since UK property began to soar in cost, many purchasers have been buying property abroad which is a trend that is continuing despite the credit crunch.
Many forecasters are warning however that the impact of the credit crunch may begin to affect foreign property markets eventually as fewer British investors ...
Posted in Credit crunch, Property Prices | No Comments »
Thursday, August 28th, 2008
UK Property prices could ent the year 15% Down
Yet more evidence the credit crunch is far from over was announced yesterday, Nationwide one of the UK's largest mortgage lenders said the average price of a property fell by 1.9 percent in August, 10.5 percent lower than property prices were last August. ...
Posted in Credit crunch, Property Prices | No Comments »
Wednesday, August 27th, 2008
Some UK credit card companies are said to be ‘hounding’ nearly 1.8m responsible customers in the last year in order to force them to give up their cards.
The customers targeted are those who always pay their credit card bills on time, but who are not generating the card companies any ...
Posted in Banking, Credit crunch, Debt, Personal Finance | No Comments »
Monday, August 25th, 2008
Tour operators going broke
Thousand of U.K Holidays makers could have their holidays ruined, some could even have troubles getting home as the credit crunch hits tour operators. 4 Tour operators have collapsed in the last 4 weeks, bringing the years total to 12 since April.
Holiday makers will be protected ...
Posted in Credit crunch | No Comments »
Sunday, August 24th, 2008
When your debts become so large that you can’t control them anymore, there are a number of things you can do to manage the problem.
Let’s take a look at two of the options available to you:
IVA – an IVA is an Individual Voluntary Arrangement that is made between you ...
Posted in Debt | 2 Comments »
Friday, August 22nd, 2008
How do you know if you've got a bad credit rating?
In these days of the Credit Crunch you've probably heard its pretty hard to get credit if you have a bad credit rating.
But how do you know if your credit rating is good or bad? Just assuming its bad ...
Posted in Credit crunch, Personal Finance | 2 Comments »
Thursday, August 21st, 2008
A debt management plan is different to an IVA or bankruptcy in that it is designed to help you make payments that you can both afford and sustain to your existing creditors. Unlike IVAs or bankruptcy, there is no risk to your home or other assets.
There are a number ...
Posted in Credit crunch | No Comments »
Tuesday, August 19th, 2008
While the credit crunch is biting hard, we’re all trying to cut back and cut down. So with that in mind here are a few hints and tips on how to re-use items that you might normally throw away and also how to cut down on what you spend on ...
Posted in Personal Finance | No Comments »
Monday, August 18th, 2008
Debt collection agencies and debt management companies are among the few businesses finding that the credit crunch has meant an upturn in revenue. Likewise, pawnbrokers and companies providing payday loans are also thriving.
More and more debt is being sold on to collection agencies as customers default and large ...
Posted in Credit crunch | No Comments »