Debt management weekly round-up

It appears that getting a loan from a bank has become more difficult, meaning that people needing to pay off what they owe may want to look at other forms of debt solution.

This comes as the Bank of England reveals that the net monthly flow of consumer credit was down £100m in June, as banks received more in repayments than they gave out in loans.

However, recent stats from Credit Action show that total debt levels from credit lending stand at more than £200bn (£218bn).

This week has also seen a continued high rate of inflation at 3.1 per cent. uSwitch.com point out that this will "provide no relief to the millions of households struggling to stay afloat."

Things could get even worse in the future, if the government decides to cut or freeze benefits as part of its spending review, as has been suggested this week.

And some Britons aren't helping themselves when it comes to financial problems. MSN Money points out that people are driving up debt levels in the form of 'idiot taxes', wasting billions of pounds replacing lost or accidently broken goods.

Debt management weekly roundup

11/03/2011

The theme of the news in the realm of debt management this week, seems to be about how people with d ...

Debt management weekly roundup

04/03/2011

The big news in the field of personal finance and debt management this week has been the European Co ...

Debt management weekly roundup

25/02/2011

It appears debt problems could well be made worse by Brits underestimating the cost of life's big ev ...

Debt management weekly roundup

18/02/2011

Debt problems are still rife in the UK in 2011, despite the recession officially ending several mont ...