Reduce debt problems with overdraft care
10/12/2010Debt problems could be reduced if consumers find out if their overdraft is charged on a daily fee basis or via an interest charge before joining a bank.
Financial information website lovemoney.com has made the recommendations as figures from the Bank of England show that rates for authorised overdrafts reached a record high of 19.09 per cent in October.
Head of consumer finance at lovemoney.com, Ed Bowsher, thinks some people "aren’t aware" and they will get into debt problems with overdrafts – and that it's more likely they "don’t know" how large the charge may be.
Kevin Still, Directort of Atlantic Financial Manangement says: "UK consumers that are regularly going overdrawn to make ends meet should look at their statements carefully to determine what the average fees they are paying on a monthly basis. It is one of the reasons we offer a prepaid bank account to our clients through our sister company MoneySave (www.moneysavebankingsolutions.co.uk), where monthly savings are typically over £25 for people currently incurring charges." 
Debt problems - Household Finance Index
22/03/2011Debt problems could put an even greater pressure on homewoners finances in the coming year, followin ...
Debt problems – energy debt
16/03/2011People in the UK that are currently dealing with debt problems are having their situation made worse ...
Debt problems: advice options
09/03/2011Britons who are having to deal with debt problems at present do have a broad range of outlets when i ...
Debt problems: water meter
01/03/2011Debt problems that cause daily problems for the UK's consumers could be alleviated with the addition ...
