- 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
Older people 'struggling with debt'
Fri 21 Dec 2007 12pm
Many of the UK's older citizens are struggling with their levels of debt and do not know exactly how much money they owe to creditors, a new report has claimed.According to research from Callcredit, 16 per cent of people in the over-55 age group are unable to properly define the amount of debt they have.
In addition, the debt levels of this demographic are increasing at a faster rate than any other group, due to the rising cost of living in the UK, the credit reference agency stated.
Mark Ward, consumer debt expert at Callcredit, said that the findings were "a sobering reminder about the importance of being responsible when taking on debt and always thinking about how you will repay the money you owe".
He added: "We must be better aware of how to take control of our financial life."
Recent data from Credit Action states that the UK's total level of personal debt reached £1,391 billion in October this year.
