- Warning. Beware of financial advisers promising unusually high investment returns.
- In Money Marketing this week the Financial Services Authority is warning advisers about the dangers of selling dodgy non regulated investment products. What about warning the public?
- Wed 28th Jul 2010
- Have you been miss-sold your mortgage and are now stuck in mortgage hell.
- I have been speaking to a number of mortgage gurus over the last few days and the prickly topic that keeps cropping up is mortgage miss-selling.
- Wed 14th Jul 2010
- Bank of England to hold interest rates until May 2011. Good news.
- The british chamber of commerce have stated that rates will be on hold for quite some time.
- Tue 6th Jul 2010
Debtors 'should be aware of options'
Fri 14 Dec 2007 2pm
People with debt problems have been advised to consider their options before looking to consolidate their borrowing with more loans.Director of Debt Help UK Iain Wrenshall said that escalating levels of debt can often reach a certain point when borrowing more money "ceases to be a viable option".
At this stage, consumers should seek professional help or investigate "legal mechanisms" to improve their situation, rather than continuing to borrow and relying on credit from unregulated lenders, Mr Wrenshall stated.
He explained: "People ignore the root of the problem … they are usually spending more money than they are able to earn.
"As they lean more heavily on credit, their ability to afford more credit diminishes."
The debt expert strongly advised consumers to avoid borrowing money from unregulated lenders, stating that such organisations can represent a "personal threat to their wellbeing".
Figures from Credit Action state that the UK's total personal debt stood at £1,391 billion in October this year.
