You might have tuned into ‘Debt on the Doorstep’ on BBC Panorama last night. One provider was shown selling high-interest loans to a woman with schizophrenia. Isn’t it time for better regulation of loan companies?
Posts tagged with "debt"
‘Let us be frank about it: most of our people have never had it so good.’ So said Prime Minister Harold Macmillan back in 1957, the year Which? was founded. But does it still hold true today?
The number of people going bankrupt in England and Wales has plummeted recently. It sounds like good news, but could it be because people can’t afford the £700 fee?
Today sees the launch of the first Which? Quarterly Consumer Report, shedding light on how us Brits are coping in this economic climate. Are you young and carefree or a stoic struggler?
It’s not often that I’m gobsmacked, but debt management company Baines & Ernst has just sent me some truly tasteless marketing, targeting potentially desperate consumers with its new prize draw offer.
Neera Sharma of children’s charity Barnardo’s argues that progress on tackling child poverty will be impossible unless the debt carried by poor families is addressed, and rent-to-own lenders should share the blame.
Need some dosh, wonga or moolah? If this doesn’t mean anything to you, you’re probably not one of the 1.2 million Brits who took out a payday loan in the past year. And there are very good reasons why you shouldn’t…
Predictions of an increase in consumer spending might paint a rosy picture of economic recovery, but if that comes at the cost of your savings, we need a Budget that will put money back in people’s pockets.
Good news for those who plan to pay off their student debt early. Last year we wrote to the Universities Minister to challenge plans to penalise early repayments. It looks like the government now agrees with us.
We recently investigated six financial products we believe you can do without. We think each one represents poor value for money – and often there are cheaper, better alternatives. Do you have any to add?
As payday lenders bombard vulnerable consumers with direct advertising, it isn’t any wonder that some fall into a spiral of debt, especially at this time of year when money is getting tight.
Two recent surveys suggest Brits are spending rather than saving, with men likely to spend more on themselves than women. Are we ignoring the current dire economic situation just to “eat, drink and be merry”?
The payday loan market was worth around £1.9 billion last year. APRs of over 1,000% are common. So is it time to limit the interest rates they charge? Martyn Saville talks to Mark Lovell, Executive Chairman of A4E.
I’ve spent months investigating payday loan companies for Which? Money. I was expecting to focus on the eye-wateringly high APRs, which can reach thousands of percent. But what I found was much more worrying.