British banks today lost a High Court ruling when the Judge declared that the banks must look retrospectively into how they sold Payment Protection Insurance on loans, credit cards and mortgages.  The ruling, which could potentially cost the banking sector up to £4.5 Billion pounds as a result.  Naturally the banking sector is reeling from the ruling, with the British Bankers Association saying ... 

We live in a different generation than our parents and grandparents, who didn’t have access to easy credit.  Even in this period after the banking colapse, it is still relativly easy for many to get their hands on affordable credit.  The Credit card – millions of us have them, and they have got many of out of a tight squeeze, or enabled us to buy the new washing machine when the old... 

Being declined for credit can be difficult for a lot of people. After all, it’s a reflection on your finances and ability to pay your bills. These days, even those with excellent credit profiles are being turned down for new cards or other forms of finance as companies tighten their lending criteria. But if you are turned down, what action can you take? If you’re declined, the lender may... 

You might have heard the term ‘energy debt’ before, but think that it can’t possibly apply to you, because you always pay your bills by direct debit, or by the due date on your quarterly bill. But don’t be so sure – the menace of energy debt can creep up on you and before you know it you really are wondering how on earth you’ll be able to pay your next fuel bill. How do you get Into... 

Things are hard for many at the moment, and the credit crunch has really started to bite, both for businesses and consumers.  And things will get a lot worse as the Governments austerity measures start to bite, with thousands facing unemployment, and many more the threat of redundancy.  As a result there may be a strong temptation to turn to loan sharks or other ‘ sources of credit when you need... 

We are constatntly bombarded on the Television and Radio from companies advertising payday loans. They show us how easy it is to apply online, or on the telephone, and on the same day, we can have a cash advance in our bank account to spend as we want. There is no getting round it, they seem easy and convenient, but are they really value for money, and is it the type borrowing that we should take... 

The bank of England has revealed that a quarter of British households are struggling with the “burden” of paying off their unsecured debts.// More than half the population have some form of unsecured debt – such as credit cards loans and overdrafts – yet 51% of these people are struggling to repay it. British people are finding it more difficult to pay off their loans now than they... 

Most of us owe money – it could be a mortgage, a credit card, an overdraft, a loan – or all four. What counts is not the actual number of debts we have, but how well we’re able to service (i.e. make the monthly payments towards) those debts. If you reach a point where you simply can’t keep up with your monthly payments, you might be surprised by how much you can achieve by talking to your... 

Struggling with debt often leads to depression, anxiety and stress and can cause tension or arguments between you and your loved ones.  It can be a very difficult time for people, and if it is not dealt with, can lead to some dire consequences. No one intends to get into the downward cycle of debt, and for many it can be be slow decent of borrowing just to make ends meet.  Before you tackle debt... 

Debt consolidation means combining your debts together into one more easily manageable monthly sum. This can involve an external lender, to whom you pay one monthly payment in place of several payments to multiple parties.  You can then pay off your outstanding debt with the money you receive, or in turn, your lender will arrange to do this for you. Debt consolidation can be a useful way to simplify...