Comments on Payday Loan Summit

On the 1st July commenting on the Payday Loan Summit, the Chief Executive of the Consumer Finance Association (CFA), Russell Hamblin-Boone, had this to say “The summit was a constructive meeting and it was helpful to once again hear the opinions and suggestions of the government, regulators, consumer groups and debt charities. There are some […]

Debt Management Plans: be warned of fraud!

Debt Management Plans (DMPs) are under attack. There are a number of companies that are withholding their client’s money and they are keeping the money paid to them instead of paying off their client’s debts. This does not mean that a Debt Management Plan won’t help you solve your financial problems. It simply means that […]

Will there be an advertising ban for payday lenders?

The Financial Conduct Authority (FCA) announced that payday loan companies could face tough restrictions on where and how they will be allowed to advertise in the future. This announcement followed the industry summit in Whitehall on 1st July when lenders, regulators, government ministers and UK charities met to consider what controls they could impose upon […]

Payday Loans – Why are they becoming more popular?

The amount of people borrowing on short term or payday loans is rapidly increasing. The total lending about in 2009 in the UK amounted to 1.2 billion pounds. It has been noted that two-thirds of borrowers of short term loans have annual incomes below 25,000 pounds and that the average loan size is about 500 […]

It pays to start saving early!

If you think about it, there is an excellent reason to start saving early and that reason is compound interest! The earlier you start saving the better because compound interest is that marvelous innovation that piles interest upon interest, upon…  When you save money, or invest it, you will be earning interest. The amount you […]