We all know that the unwise use of credit cards can severely damage your wealth. With most cards boasting APRs of 11% or more, they’re an expensive way to borrow and with many finance companies offering ridiculous levels of credit, it’s perfectly possible to achieve a quite scary level of debt, even for those on relatively meagre salaries. It’s therefore perhaps not surprising that personal debt (including mortgages) in the UK is currently over £1.1 trillion, and growing fast.
Tag: Debt
Motley Fool: Ten Tips To Prevent Financial Chaos!
As it is National Identity Fraud Prevention Week (check out the Stop ID Fraud website), I thought I’d take the opportunity to warn you about this financial scam.
Motley Fool: Macquarie Swallows Thames Water
Australia’s Macquarie Bank, together with a group of unnamed investors, has bought Thames Water for £4.8b plus £3.2b in debt. The water utility, which is owned by Germany’s RWE, supplies water to about 13 million people in London and the Thames Valley. It came into existence in 1974 when ten regional water companies were created through the Water Act of 1973. It was subsequently privatised by the then Conservative Government in 1989, and later bought by the German multi-utility firm RWE in 2001.
Motley Fool: Tips From The Junior Market
The cost of bringing up a child from birth to when he or she leaves university is an astounding £164,000. And between the ages of one to eleven parents can expect to spend some £92,000 or 56% of the total estimated cost of raising a child. So how can investors cash in on the staggering amount that parents splash out on their children?
Scotsman: Credit Shared Is Credit Controlled
EVERYONE’S entire credit record could soon be shared by all lenders following the launch this week of a consultation by the Department of Trade and Industry (DTI) as part of its bid to reduce the soaring level of debt in the UK.
MoneyExpert: The Demise Of The Fee-free Balance Transfer
When looking for a credit card to suit your financial needs, the proposition of a fee-free balance transfer is becoming a “dying breed”, a financial analyst has said.
This Is Money: Lenders To Blame For Bad Debts
High Street banks’ calls for tough controls on debt firms have been dismissed by the Government, which says lenders are to blame for the problem
MoneyExpert: Find The Right Credit Card For Christmas Spending
For early Christmas shoppers wishing to compare credit cards, the market currently offers a number of different deals with varying levels of interest and balance transfer rates.
MoneyExpert: Mortgage Advances ‘affecting UK’s Disposable Wealth’
Mortgage advances staying ahead of house price inflation is one of the reasons for household disposable wealth falling for the first time in two years, it has been suggested.
MoneyExpert: Capital One ‘homeowner Loan’ Offer Worst For Junk Mail
The Citizens Advice Bureau (CAB) has named Capital One and its fake cheque ‘homeowner loan’ offers as the worst offender when it comes to unwanted junk mail.