Home > News > Debt consolidation

Consumers `increasingly experiencing debt problems` Over-50s `better at managing credit card debt` New banking rules `may restrict access to loans` UK `must reduce consumer debt` 700k `on Debt Management Plans` Recession `could lead to financial problems for retirees` Charity sees increase in debt, mortgage and loan arrear enquiries Retirees` finances `may be damaged by rate cut` Consumers `aiming to reduce spending` People `increasingly turning to illegal loans` Children raised in credit crunch `may be better able to manage money` Many parents `pushed into debt by adult children` Young people `failing to protect themselves for debt repayments` Consumers in East Midlands `relying less on debt to fund lives` Plans set out to help people in debt PPI ban `could leave consumers without loan cover` Govt `must step in to stop debt addiction` Cash-strapped Brits `see fraud as more acceptable` People `should not rely on mortgage rescue plan` Consumers `to take out £3bn in debt consolidation loans by Easter`

Workers `wasting money on unnecessary taxes`

26/03/2008

UK adults waste more than £9 billion every year as a result of filling in the wrong tax details, new research has revealed.

The amount in wasted tax payments increased by £1.7 billion to £9.3 billion during 2007, as a total of 82 per cent of consumers admitted to doing nothing to reducing their overall tax burden, the study by Unbiased claimed.

As a result, the financial pressures caused by such taxing could potentially be forcing a number of people into debt consolidation schemes.

David Elms, chief executive of Unbiased, said: "UK taxpayers are wasting record sums in unnecessary tax payments. And our report shows that 2008 will be no different.

"We estimate that each UK tax payer will waste an average of over £290 in tax payments this year."

Earlier this month, research from Unbiased found that it takes the average UK worker 70 days to earn enough money to pay off the interest on debts and overdrafts.

More than 4 million fear they`ll be made redundant 16/12/2010 - According to R3`s quarterly personal debt tracker, more than 4 Consumers took on more mortgage debt in July 26/08/2010 - Consumers took on £2bn more mortgage debt than they repaid Debts called in by parents 26/08/2010 - According to research, `the bank of Mum and Dad` is Teenagers `scared of debt` 19/08/2010 - Nearly two thirds of teenagers are `scared` of debt, according