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21 Aug 2017
The lending industry’s £68bn dirty secret
Once again, the dark spectre of consumer debt threatens to run out of control and help send our economy hurtling towards a crash. Warnings are emerging from no less a body than the Bank of England, whose financial stability director said high street banks and others were entering a ‘spiral of complacency’ about mounting consumer debt levels.
01 Jun 2017
Don’t let debt get you down
According to recent publications from the Bank of England over the past year or so, outstanding consumer credit is reaching highs that bring to mind spending levels with borrowed money last seen prior to the 2008 recession. Driven in part by the rising popularity of car finance schemes, it’s also come with a spike in declared insolvencies, in particular, Individual Voluntary Arrangements (IVAs). They may seem like a not too unattractive way to clear the majority of your debt without declaring actual bankruptcy, but can actually cause more difficulties in the long run.
11 Jun 2015
Pass the crystal ball.
When my wife’s grandfather decided to retire, he decided to spend some of his savings to stock his not so unsubstantial farmhouse cellar with what he calculated to be enough wine to see him through to quite literally, his wake.
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