Earlier News

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• Fewer personal loans available from unsecured lenders
  

  According to a recent report there are now fewer personal loans available from unsecured lenders in the UK. The information comes from financial experts Moneyfacts, which has described the situation as a 'worrying trend'. According to figures there was a 10% fall in the number of unsecured personal loan providers throughout the month of November. Increased cash flow problems and financial turmoil in the money markets has really taken its toll on many lenders.

  
  
• Consumers in debt getting hassled by banks
  

  A recent report has shown how some of the major high street banks in the UK are pestering customers that are in debt in order to try and get them to take out a more expensive loan in order to deal with their debt issues, whilst actually making the situation worse in many cases. It is even claimed that banks are hassling customers on debt management plans with debt charities and management companies, trying to get them to take out another loan to pay off their debts, often at a far higher rate of interest than they are already paying.

  
  
• Complaints over mortgage charges soar
  

  A recent report has shown that over the past twelve months the level of consumer complaints relating to mortgage costs and charges have soared, reflecting the improvement that lenders need to make to their services. Over the past year there has been a significant rise in complaints relating to cost and charge issues, and this includes administration charges, exit fees, charges on arrears, and broker charges for setting up or arranging a mortgage for a consumer.

  
  
• Watch out for the bogus debt advice company
  

  Consumers in the UK are being urged to look out for a bogus debt advice company that is offering dodgy advice in order to profit from consumers' misery. Bad debt levels in the UK have rocketed over recent years, and many people are struggling to keep up with repayments on debts. As a result of this many have turned to debt advice companies for support and advice, and experts state that consumers could easily get fooled by this new advice company, which has been sending mailings out to vulnerable consumers.

  
  
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