Debt Advice l Bank Accounts l Loans l Remortgages l Insurance l Car Finance - thinkmoney.com

Consumers keeping debt worries to themselves

Thu, 2 Sep 2010 11:26:37 GMT

The majority of people whose financial situation suddenly changes never actually talk to their bank or building society about their debt problems and other financial difficulties. This was one of the findings of recent online research on behalf of Callcredit - ICM Research surveyed 2,005 adults in the middle of August.

Full article: Consumers keeping debt worries to themselves
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Indebted families `underclaiming on benefits`

Wed, 1 Sep 2010 13:52:0 GMT

Many families and individuals who are experiencing debt problems or other financial difficulties are making things harder for themselves by `underclaiming` on benefits and tax credits, according to debt advisers at Atlantic Financial Management. The company said that many people find it difficult to make sense of the range of welfare benefits and tax credits on offer, with changing financial circumstances making the problem worse.

Full article: Indebted families `underclaiming on benefits`
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Mortgage lending by mutuals `at a year-high`

Wed, 1 Sep 2010 14:13:19 GMT

Gross mortgage lending by mutuals reached £2.0bn in July, according to the Building Societies Association (BSA) - the highest monthly figure so far in 2010. Total mortgage approvals made that month came to £1.9bn, the same as a month earlier.

Full article: Mortgage lending by mutuals `at a year-high`
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Car insurance - a few facts and figures

Wed, 1 Sep 2010 14:17:39 GMT

An article in today`s Independent looks at the cost of car insurance and suggests a few ways you could cut your insurance costs. Entitled `Drive down the cost of your motor insurance`, the article tells us that men tend, statistically, to be more dangerous on the road than women.

Full article: Car insurance - a few facts and figures
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Banks writing off £40m of debt every day

Wed, 1 Sep 2010 14:20:12 GMT

In the second quarter of the year, the Daily Mail reports, banks and building societies wrote off £3.5bn of debt. Working out to around £40m per day, this was the largest amount registered in a single quarter since records began. Credit card debt accounted for the largest portion - £2.1bn - of this write-off. £1.2bn was down to overdraft, personal loan and hire purchase debts. Just £184m of mortgage debt had to be written off.

Full article: Banks writing off £40m of debt every day
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How will a debt management plan change my finances?

Wed, 1 Sep 2010 15:22:34 GMT

A debt management plan will have a big impact on your finances, but remember it`s designed to help you.

Full article: How will a debt management plan change my finances?
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Bank of England `may extend quantitative easing`

Wed, 1 Sep 2010 15:32:29 GMT

The Bank of England may be set to pump more money into the economy as part of its quantitative easing scheme, deputy governor Charles Bean has suggested. At the US Federal Reserve`s annual symposium in Wyoming, Mr Bean said that further action might be required to sustain economic recovery, walesonline.co.uk reports.

Full article: Bank of England `may extend quantitative easing`
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New credit card - with no balance transfer fee

Wed, 1 Sep 2010 15:34:12 GMT

A credit card company has released an alternative to the range of 0% balance transfer deals currently on offer. The new MBNA Platinum credit card doesn`t charge a fee for balance transfers or money transfers made in the first 90 days, potentially saving the card holder a lot of money when transferring the money across.

Full article: New credit card - with no balance transfer fee
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Britons are `rushing to repay debt`

Fri, 27 Aug 2010 16:40:28 GMT

Savings levels are on the decline as Britons focus on repaying debt once again, according to new research from Unbiased.co.uk. The financial advice website found that people repaid 7p of debt for every pound saved in the second quarter of 2010. By contrast, borrowers were taking on 66p of debt for every pound saved in the final quarter of last year.

Full article: Britons are `rushing to repay debt`
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Timeline of an IVA

Thu, 26 Aug 2010 11:15:55 GMT

Here`s our step-by-step guide to what`s involved in entering into an IVA.

Full article: Timeline of an IVA
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Mortgage interest in Scotland reaches new low

Thu, 26 Aug 2010 11:18:41 GMT

In the second quarter of the year, people moving home in Scotland had to use just 9.3% of their income to cover their mortgage interest. This wasn`t just the lowest figure in the whole of the UK - it was the lowest figure we`ve seen anywhere in the UK since 1996.

Full article: Mortgage interest in Scotland reaches new low
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Third of Britons use savings for everyday costs

Thu, 26 Aug 2010 15:24:12 GMT

According to research by investment group Schroders, a third of Britons are avoiding falling into debt by using their savings and investments to cover everyday costs. On average, they have used up £4,600 of savings over the past year for this purpose - adding up to the equivalent of £60bn.

Full article: Third of Britons use savings for everyday costs
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Mortgages: no life cover for a third of new debts

Thu, 26 Aug 2010 15:43:47 GMT

Nearly a third of people who take out a mortgage do not have associated life cover, new research suggests. Defaqto said that while the Council of Mortgage Lenders (CML) recorded 925,000 new mortgage advances in 2009, the Association of British Insurers (ABI) recorded only 636,973 new mortgage-related life assurance policies.

Full article: Mortgages: no life cover for a third of new debts
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What help will I get during my debt management plan?

Thu, 26 Aug 2010 16:3:54 GMT

Debt management companies can help you with your finances throughout your debt management plan.

Full article: What help will I get during my debt management plan?
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Four million women amass £3,400 of debt shopping

Wed, 25 Aug 2010 15:42:40 GMT

According to research by price comparison website uSwitch, four million British women have run up average debts of £3,400 as they aim to mirror the lifestyle of celebrities, The Telegraph reports. However, it`s not just women who are taking on the debt - around seven million people in the country have an `unquenchable thirst for shopping`. That includes one in seven (three million) men, who are also classed as `shopaholics`, often racking up debt on credit cards, store cards and loans.

Full article: Four million women amass £3,400 of debt shopping
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Credit card advice for students

Wed, 25 Aug 2010 16:34:8 GMT

An article on the BBC`s website offers advice on credit cards for students heading off to university this autumn. The article talks about how making multiple applications for credit (whether it`s for a credit card, for example, or a store card) can negatively affect an individual`s credit rating - which may be regretted post-graduation when students may need to apply for mortgages or loans.

Full article: Credit card advice for students
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Insurance tips & insurance myths

Wed, 25 Aug 2010 16:48:7 GMT

The ABI - the Association of British Insurers - has released its `2010 tips and myths guide`, designed to help people find the right insurance policy for them. There are five insurance top tips and five insurance myths, but here we`ll list just the top two in each category.

Full article: Insurance tips & insurance myths
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Cost of debt about to rise?

Tue, 24 Aug 2010 14:46:23 GMT

Interest rates could rise to 8% by 2012, according to a member of a think tank - something which could greatly increase the cost of repaying mortgages and other debts. As the Daily Mail reports, Andrew Lilico of the Policy Exchange has stated that the economy would `have to be able to tolerate interest rates of perhaps 8 per cent` as the Bank of England tries to keep inflation down to a reasonable level.

Full article: Cost of debt about to rise?
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Many credit card deals `better than before recession`

Tue, 24 Aug 2010 14:57:2 GMT

Many credit cards currently offer better benefits than the deals available before the recession, according to Moneysupermarket.com. Interest-free periods on credit cards now last an average of 12.2 months - longer than at the peak of the `boom` in July 2007.

Full article: Many credit card deals `better than before recession`
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How an IVA can help

Tue, 24 Aug 2010 15:19:30 GMT

Here`s a quick rundown of the various ways in which an IVA could help with your unsecured debts.

Full article: How an IVA can help
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