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Loans & Credit

Simon Read: Why wait to write off credit card cheques?

A government crackdown on unsolicited credit card cheques has long been overdue. The cheques have seemingly indiscriminately been junk-mailed to millions of credit card holders in recent years simply to encourage them to overspend and boost banks’ profits. According to figures from uSwitch, 280 million of the cheques were sent out to 14 million people last year alone. And the 3.2 million of those suckered into using the cheques helped the credit card companies pocket an extra £571m in handling fees and interest charges last year.

Inside Loans & Credit

The Office of Fair Trading estimated in 2006 that people could be paying up to £57 million a year extra in interest and charges by using credit card cheques

Unsolicited credit card cheques to be banned

Thursday, 2 July 2009

The Government will today set out details of its plan to ban lenders from sending out unsolicited credit card cheques to consumers.

What credit card 'tarts' should do next

Wednesday, 1 July 2009

Lenders seem increasingly reluctant to give customers with imperfect credit ratings their best balance transfer cards. But what if you’ve come to rely on shifting debt between 0% deals?

Cutting edge: Credit card providers are 'ratcheting up the pressure on consumers'

Beware the house snatchers as lenders get tough on bad debt

Sunday, 28 June 2009

Charities warn of a surge in 'charging orders', which attach unsecured loans to property. What can debtors do?

Cautious lenders put balance transfers on ice

Sunday, 28 June 2009

Lenders are still being cautious after research from price comparison service uSwitch.com shows that at least one in 10 consumers have had a credit card application rejected in the past year.

Cashback spreads to loans – but be wary of the unexpected costs

Sunday, 28 June 2009

Marks & Spencer is hoping to tempt consumers with a new cashback reward on its personal loans. Customers who take out a loan before 11 August will be offered a refund of 10 per cent of the interest paid. M&S offers a typical rate of 8.7 per cent on a £10,000 loan over 36 month which, with the cashback, drops to the equivalent of 7.9 per cent.

Claims that credit card bills and other debts can be sold to a third party without consent are misleading

Transfer scams hit the hard-up and desperate

Saturday, 27 June 2009

Claims that companies can help people become debt-free by buying their debt are bogus, says the OFT

Banks launch final battle to avoid £1bn charges payout

Wednesday, 24 June 2009

Two-year fight against compensation to end with House of Lords ruling

Simon Read: Time to crack down on bogus claims

Saturday, 20 June 2009

A claims management company was accused this week of "misleading" people by stating it could help people wriggle out of their debts. The Advertising Standards Authority upheld a complaint from Lloyds TSB about adverts from a firm called Debt Free.

Service your cards, sir? Michael Le Vell, who plays grumpy mechanic Kevin Webster in ITV soap Coronation Street, has an eye for a loophole

Julian Knight: Forget the soft soap, this plot to wipe debt is just greedy

Sunday, 14 June 2009

Escaping what you owe on credit cards is a long way from refusing to pay bank charges

Spotlight: Abbey Zero Card

Saturday, 16 May 2009

Abbey's new Zero credit card is one of the few cards not to charge overseas and cash withdrawal fees. It also offers a three-month interest-free period on purchases and a 12-month interest-free period on balance transfers (although you will be charged a 3 per cent transfer fee if you use the card for this purpose).

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