Online debt collection

Author: Mark Dawson

With Britons continuing to struggle with money, it is important that they take steps to ensure the heat on their financial situation is not turned up even further.

Such is the claim of uSwitch, which reports that despite a series of price increases occurring earlier in 2008, consumers should prepare themselves for at least one more round of hikes in the cost of gas and electricity. According to the price comparison firm, experts believe that the cost of energy bills are set to surge by up to 40 per cent over the remainder of this year. Such a move would see the typical household bill stand at 1,467 pounds by this winter, a rise of 61 per cent from the 912 pounds which was noted at the start of the year.

Author: Joseph Kenny

Can you do it? Can you imagine what it could be like to be debt free? Most have, at one time or another, seriously considered what they could do to get out from under their debt. It is not always the people who are facing serious financial troubles because of debt that consider such possibilities. After all, no one really wants debt.

It is just that modern life necessitates some forms of debts, whether it is a car loan, student loans, or a mortgage. If the prospect of debt-free life is something that appeals to you then maybe you are ready to think this issue through and come up with a viable solution.

Author: Steve Smith

Mind, the UK mental health charity, has suggested that lenders need to act in a responsible manner when dealing with people who have problematic debts.

Comments from the organisation follow the first Mind Week, which took place between May 10th and 17th and aimed to promote better understanding of the link between substantial debt and adverse effects on individuals’ mental health. According to a recent study released by the group to coincide with Mind Week, more than nine out of ten (91 per cent) of people of those who had experienced debt trouble said that it resulted in a worsened state of mental wellbeing.

Author: Mark Dawson

Despite Britain’s six largest energy suppliers increasing the cost of their tariffs only a few months ago, consumers could be set to find themselves coming under further financial pressures, it has been suggested.

Pointing towards Centrica’s recently-released interim management statement, uSwitch claimed that two further rounds of price increases could be set to take place over the coming months. In its report Centrica pointed out wholesale gas and power costs have been rising due to a shortfall in imports from continental Europe and rising demand from countries in Asia for liquified natural gas. Record oil prices in Britain were also shown to have played a dominate role in the future of energy costs. As such, it asserted that month-ahead prices for power and gas currently stand at 100 and 92 per cent above respectively figures recorded during the same period of time in 2007.

Author: Mark Dawson

Despite Britain’s six largest energy suppliers increasing the cost of their tariffs only a few months ago, consumers could be set to find themselves coming under further financial pressures, it has been suggested.

Pointing towards Centrica’s recently-released interim management statement, uSwitch claimed that two further rounds of price increases could be set to take place over the coming months. In its report Centrica pointed out wholesale gas and power costs have been rising due to a shortfall in imports from continental Europe and rising demand from countries in Asia for liquified natural gas. Record oil prices in Britain were also shown to have played a dominate role in the future of energy costs. As such, it asserted that month-ahead prices for power and gas currently stand at 100 and 92 per cent above respectively figures recorded during the same period of time in 2007.

Author: Steve Smith

Those consumers who are concerned about managing their money in a time of increased economic strain should consider investigating ways in which they can lessen the burden they are under, it has been suggested.

In research released by MoneyExpert it was revealed that mortgage payment breaks - in which homeowners can stop repaying this area of financial demand for an agreed period of time - may become more sought-after by homeowners. Furthermore, it was indicated that products with this facility have become more popular over recent years. At present it was revealed that 58 per cent of the fixed-rate and discounted mortgages provide a payment break option. However, in September 2006 this stood at just 44 per cent. The rise in mortgage payment break facilities was partially attributed to calls by Alistair Darling, the chancellor of the exchequer, for money lenders to help consumers manage their finances during the credit crunch.

Author: Mark Dawson

Britain’s financial optimism has plummeted, according to a recent set of figures.

GfK NOP’s latest consumer confidence index revealed a drop of five points with regard to the country’s outlook on the current monetary climate to stand at -24. Such a figure is the lowest recorded since November 1992. Furthermore the current overall level of economic optimism was shown to be down by 18 points from the same period this time last year, with decreases noted across all five of the firm’s measures which make up the index.

Author: Steve Smith

The current financial climate is causing concern for more than just the nation’s adults, according to new research.

In a study carried out by Abbey Banking, it was revealed that a significant proportion of young people between the ages of 11 and 15 are worried about their ability to manage their finances as they get older. Around one in five of those questioned claimed to be worried that they will get into debt and be poor in later life. Research from the financial services firm also unveiled that boys are most likely to have concerns over monetary matters, with just over a quarter (27 per cent) of males having anxieties about future debts. In comparison, just 16 per cent of girls hold these worries.