Personal finance - have consumers had a belly full of personal debt?
For months, we were trigger-swipe happy, putting our groceries, clothes, holidays and service charges on our credit cards.
We wanted mortgages, we took out loans, we watched Property Ladder and What Not To Wear.
Whether you were born middle class, had middle class aspirations, you became middle class through your spending.
Debt united people around the UK, we sympathised with each other on what we couldn't afford ? but it didn't matter, we still bought it.
Soon everybody had a bottle of Jacob's Creek in their kitchen and olives and humous in the fridge.
Yet, it would seem as if a debt conscience is setting in.
This morning, The Guardian printed a story based on the fact that Nationwide had reported a 0.2% decrease in the average house price, whilst the Times reported on a statement from the Bank of England, showing that credit-card borrowing was at its slowest rate for more than four years, with mortgage lending also very static.
According to the latest Department of Trade and Industry Survey, 5% of individuals reported finding their household's debt repayments a "heavy burden" and 4% of individuals are currently behind in payments for at least one credit commitment or domestic bill over the past three months.
According to Credit Action, in December 2004, 1.2 million electricity and 1 million gas domestic customers were behind in repaying their debts to their supplier.
Additionally 20% of people say that they often neglect checking their bank balance because "they are too scared to find out how much money they have", according to Lloyds TSB.
Credit Action also reported that the number of people searching for help to manage their debts had almost doubled in May in 2005, compared to figures in May 2004 and a survey from Relate revealed that 44% of couples find money to be a contentious issue in their relationship and a quarter of people in debt are receiving treatment for stress, depression and anxiety from their GP.
It doesn't have to be all doom and gloom however.
If you're lucky enough to have no outstanding debt, you can keep you finances in shape by exploiting the services of sites such as moneynet, which provide financial product price comparison information and extensive consumer information guides.
If you have any outstanding debts, you can seek advice from the Consumer Credit Counselling Service (CCCS) or Citizens' Advice and financial comparison sites like lowermybills and moneynet also provide detailed research on debt consolidation loans and debt management.
Resources:
Credit card guide
Credit Action
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?Bad' means ?bad' no matter where you go! It is cumbersome and heavy, a threat and negative. So, you are taking this burden of bad debt every time you make a loan application for personal loans. It can't be translated into something good and certainly not the ?most wanted thing' especially when you apply for a loan. Let us rethink this ?can't'. Can we translate bad debt into something good.
Yes, it is possible. It is very much feasible in face of current developments in the loan industry. Bad debt personal loans are so easily available in UK that it is like bad debt is not a concern. Bad debt is not a huge anomaly. The repercussions of bad debt on your personal loans application is in terms of interest rates.
Interest rates for bad debt personal loans application are usually higher. However, there is no deprivation of bad debt personal loans plans online. Proper research with respect to bad debt personal loans is not only necessary but integral. Bad debt personal loan variety...
Bad is the opposite of good. Is it? Not with bad debt personal loans
Loans > Bad is the opposite of good. Is it? Not with bad debt personal loans
Remortgage
Remortgage
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Secured loans can be availed if the borrower agrees to place a collateral. A fixed asset like an automobile, home or any other property can serve as collateral. Second option available is unsecured personal loans where the borrower is not under any obligation to place a security.
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Loans > Transform your dreams into reality with personal loans UK
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New Website About Phones is Published by Niche Website Publisher
(ContentDesk) October 20, 2005 -- Tornado Solutions, LLC, an online publisher of niche content, has announced the publication of Be-Phone-Smart.com, a website providing information and product reviews on consumer and business telephones, services, and phone equipment. Tornado Solutions publishes topic-specific websites aimed to provide expert, relevant information and advice to the Internet information-seeker. Be-Phone-Smart.com (http://www.Be-Phone-Smart.com)...
Loans razr phone New Website About Phones is Published by Niche Website Publisher Personal finance - have consumers had a belly full of personal debt?
Loans > New Website About Phones is Published by Niche Website Publisher