New data from personal insolvency provider, Creditfix , has revealed that average debt levels in Exeter have decreased by 28% since 2020.
The Personal Debt Index is compiled by using data from over 185,000 people across the UK who have received help with their finances through an IVA or Trust Deed with Creditfix.
As the cost-of-living crisis continues, many households are struggling financially and increased levels of debt is a real worry for many.
According to the Office for Budget Responsibility , UK households will spend £83billion in servicing debts (...
Trading Standards is again warning people not to be tempted by ‘loan sharks’ this Christmas.
And they advise if you do find yourself ensnared to contact the confidential 24-hour Stop Loan Sharks 24/7 Helpline (0300 555 2222) for advice.
Heart of the South West Trading Standards Service’s latest concerns follow the publication of new figures by the England Illegal Money Lending Team (IMLT).
They say that nearly one in ten people turned to loan sharks to cover the costs of Christmas last year.
And more than half (52 %) of victims turned to illegal money...
More than a quarter of people are resorting to using credit cards to buy food, and a fifth have borrowed money in order to pay for rising prices, it’s reported .
A poll by Ipsos, carried out for Sky News, shows that 18 per cent of respondees have borrowed money in the last year to pay for rising costs of living.
“Borrowing from reputable sources is one thing, but people, who are already struggling to pay their bills, resorting to borrowing from back-street lenders and loan sharks, is something to be really concerned about,” says Steve Gardiner of Heart of the South West...
A startup based in the south of England has raised funding to help household with short term lending problems.
Fund Ourselves, founded by Nadeem Siam, was set up in 2015 as a ‘viable alternative to high cost lenders such as Wonga and QuickQuid.’
The startup offers rates that are ‘more affordable’ than other high street lenders, offering loans ranging from £50 to £500 for a period of 3 months. A key selling point is that customers who are struggling to repay can have an interest free extension for up to 12 months, meaning that there are no late fees or default payments,...
The debt that you carry makes a huge impact on your credit score. When you repay your debt timely, your credit score will be improved. Also, you need to keep the utilization rate below thirty percent in order to avoid negative effects on your credit score.
However, the different types of debt relief programs that you use can affect your credit score. Let's take an example, if you use debt settlement programs, it makes a negative impact than others debt relief programs. Keep in mind, while choosing the debt relief options, your current credit standing plays a vital role.
Leading local advice charity, Citizens Advice Exeter, has reported a 6.1% increase in the number of mortgage repossession cases listed at Exeter County Court in the year-ending 31st March 2018. This is in comparison to the same period in 2016/17.
Steve Barriball, Citizens Advice Exeter Chief Executive, said: “In the last year there were 560 cases listed for repossession, an overall decrease of 5.6%, or 33 cases, on the previous year. However, there was an increase in mortgage repossessions, which were up by five cases.
“There were welcome reductions of 23.3% in private...
Devon, Somerset and Torbay Trading Standards Service is urging victims of loan sharks to come forward, and has reassured them they can do so in the strictest confidence.
An estimated 310,000 households in the UK borrow from loan sharks every year, many over Christmas - but a relatively small loan can soon spiral into massive repayments. Devon, Somerset and Torbay Trading Standards Service has joined forces with The England Illegal Money Lending Team (IMLT), who specialise in investigating and prosecuting loan sharks, to appeal to victims to report them. It’s part of IMLT’s ‘Why I...
Major new research by the Citizens Advice service finds that nearly 1 in 5 people struggling with debts have had their credit card limit raised without them requesting it - a practice the charity would like to see banned.
After the Bank of England issued a warning to lenders about how they are granting credit to consumers, leading local advice charity, Citizens Advice Exeter, says poor affordability checks by firms are making people’s financial situation worse.
Consumer borrowing has risen to over £200 billion and over a third of this - £67 billion - is on credit cards....
Leading local advice charity, Citizens Advice Exeter, has released the results from its fifth economic well-being survey.
Citizens Advice Exeter Chief Executive Steve Barriball said: “A key finding is that more than half of those who responded to the survey, some 62%, said that they were worried about their financial position.
This is up significantly from 51% earlier in the year. Whilst income levels seem to have stabilised, with 61% of those responding saying their income levels remained the same, only 18% of respondents had seen their expenditure reduce.
Leading local advice charity, Citizens Advice Exeter, has released its latest advice trend statistics.
In the period 1 April 2016 – 28 February 2017 the charity helped 7267 people directly with advice and information. The advice trends over the period were as follows:
Welfare benefits Overall, the charity dealt with 10.3% more welfare benefit enquiries. The main increases being:
• 20.7% increase about disability benefits (PIP/DLA) • 12.4% increase about employment and support allowance • 2.6% increase about attendance allowance
