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Credit Card Debt
The Guardian:
Which? Money investigation sees graduate with £19,000 debts and an income of less than £1,000 offered almost £3,000 creditAn indebted graduate was offered nearly £3,000 of store card credit in two days despite earning less th (Read More)
FOXNews.com:
U.S. District Judge G. Thomas Porteous Jr. had more than $150,000 in credit card debt by 2000, mostly for cash advances spent in casinos, investigators said. . (Read More)
The Guardian:
Members of the eurozone were quite right to suspect 'Anglo-Saxon capitalism'It was a somewhat chastened British government which hosted the meeting of the finance ministers and central bank governors of that new focus of glob (Read More)
BBC News Player | UK:
Some companies are signing up customers for store cards - giving them hundreds of pounds of credit - or putting them in debt - without their knowledge. (Read More)
washingtonpost.com - Letters to the Editor:
As a Washington area debt collector, I read with interest Michelle Singletary's Oct. 29 column on debt collection ["Calling the debt collectors on abuse"] and the need to update the Fair Debt Collection Practices Act. Ms. Sin (Read More)
The Guardian:
• Monument had a million card holders at its peak• Former Barclaycard offshoot charged rates of up to 39.9%One of Britain's biggest sub-prime credit card operators, Monument, a one-time subsidiary of Barclaycard which had nea (Read More)
The Guardian:
Case study Plans to raise minimum repayments on credit cards could tip some borrowers into bankruptcyLaura Marcus has four credit cards but argues that lenders were also at fault for encouraging easy credit Laura Marcus admit (Read More)
Times Online:
Credit card companies will be forced to help customers reduce their debt rather than rack it up under new Government proposals, the full details of which have been announced today. (Read More)
BBC News Player | Business:
New proposals are being put forward to make credit and store cards clean-up their act and encourage consumers to get their debt under control. (Read More)
The Guardian:
Proposals would force borrowers to pay back more of their debt earlier and stop issuers raising credit limit without consentThe government has outlined plans to crack down on credit card lending, including moves that could se (Read More)
FT.com - Your money:
Companies will no longer be able to increase customers' borrowing limits without permission or accept payments of interest only, under laws to be outlined by the government. (Read More)
Topics:
Debt,
Government
The Guardian:
Proposals would force borrowers to pay back more of their debt earlier and stop issuers raising credit limit without consentThe government will tomorrow outline plans to crack down on credit card lending, including moves that (Read More)
Times Online:
New laws requiring credit card companies to help customers to reduce their debt rather than encourage them to increase it will be proposed tomorrow. (Read More)
The Guardian:
Number of mortgages approved for purchases is at highest level since January 2008, the BBA says, but the value of approvals is down 19%The number of mortgages approved for house purchases by banks reached 42,088 in September, (Read More)
The Guardian:
• New FSA rules aim to end unaffordable borrowing• 125% loans stay but equity withdrawal may be curbedThe Financial Services Authority today shut the door on so-called liar loans and warned that the days of homeowners remortg (Read More)
The Guardian:
Watchdog expected to ban self-certification mortgages and force lenders to carry out rigorous checks on people's incomes in new rules to be set out todayHomebuyers applying for mortgages will have to prove their ability to r (Read More)
The Guardian:
The ruling is a severe blow to the Competition Commission calling for a seven-day cooling off periodPhillip Inman Barclays yesterday scored a victory in its long battle with the Competition Commission over the sale of "rip-of (Read More)
smh.com.au Business News.:
Australians are continuing to shift to debit cards from credit cards when making purchases but are expected to increase overall card debt as economy recovers. (Read More)
Topic:
Economy
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