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Weekly round up

26/03/2010

With Alistair Darling announcing the current Government's last Budget, this week has been a very busy one in the world of debt management.

Here are some of the stories that made the news.

The government has announced new rules that will help out families in financial difficulties.

From the 12th of April, contributions made by absent parents will no longer be used when calculating the benefit received by single parents caring for children.

The Budget also saw the Chancellor announce measures to make basic banking facilities available for all, which will aid people with financial problems.

Meanwhile, people with credit cards could see their rates rise after a deal was struck between card companies and the government.

Initially, customers had believed that the deal could help with their finances, but their hopes look set to be dashed as, the basic cost of building up personal debt on a credit card is likely to increase.

And finally, despite winning last year's court case on overdraft charges, banks are finding themselves under fire for an unfair practice known as 'set-off'.

This process sees them moving customers’ money between different accounts to pay off personal debts within the same banking group.
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