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		<title>The Debpt Counsel | Latest news, RSS 2.0 Feed</title>
		<link>http://www.thedebtcounsel.co.uk/</link>
		<description>The Debpt Counsel | Latest news</description>
		<lastBuildDate>Mon, 08 Mar 2010 00:00:00 GMT</lastBuildDate>
		<language>en-us</language>
		<category>Financial News</category>
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		<copyright>Copyright The Debpt Counsel 2010</copyright>
		<managingEditor>info@thedebtcounsel.co.uk (The Debt Counsel)</managingEditor>
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				<author>info@thedebtcounsel.co.uk (The Debt Counsel)</author>
				<title><![CDATA[ UK credit card debts left to pile up ]]></title>
				<link>http://www.thedebtcounsel.co.uk/news/uk-credit-card-debts-left-to-pile-up</link>
				<guid>http://www.thedebtcounsel.co.uk/news/uk-credit-card-debts-left-to-pile-up#368</guid>
				<pubDate>Wed, 24 Feb 2010 00:00:00 GMT</pubDate>
				<description><![CDATA[ The credit report and credit checking web site Equifax says that more than 1 in 3 of us let credit card debts pile up; a situation that could lead to serious debt problems in the future.Equifax say this dependence on credit could have serious cost implications on family budgets as 22 per cent of people only make the minimum repayment, while 35 per cent of people are paying off up to 25 per cent of their credit card debts every month. More than one in five people said that debts have increased over the last twelve month.With 32 per cent of people saying they are further in debt than twelve months ago it is not surprising that credit card repayments are amongst the first to be cut to a minimum as families struggle to cope with monthly budgets.Neil Munroe, External Affairs Director at Equifax said &lsquo;I don&rsquo;t think consumers are na&iuml;ve they know that reducing payments on credit cards is going to cost them in the long-run. But it seems they don&rsquo;t feel they have much choice.&rsquo;The survey of Equifax Personal Solutions customers showed yet more pressure is put on to family finances with 20 per cent of people saying... (read more) ]]></description>
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				<author>info@thedebtcounsel.co.uk (The Debt Counsel)</author>
				<title><![CDATA[ Ex Government Advisor says credit card interest rates are excessive ]]></title>
				<link>http://www.thedebtcounsel.co.uk/news/ex-government-advisor-says-credit-card-interest-rates-are-excessive</link>
				<guid>http://www.thedebtcounsel.co.uk/news/ex-government-advisor-says-credit-card-interest-rates-are-excessive#367</guid>
				<pubDate>Mon, 22 Feb 2010 00:00:00 GMT</pubDate>
				<description><![CDATA[ Following on from our news story last week &ndash; highest credit card interest rates since 1998 &ndash; A former advisor to the Government has said that credit card rates &lsquo;cannot be justified.&rsquo;Ros Altmann is calling for an enquiry into how the credit card industry sets interest rates. He says that credit card interest rates of around 18 per cent, the highest for over a decade, are excessive and he thinks there could be the need for a regulatory body to oversee how interest rates are set.The Government is looking into some of the charges credit card companies make but this does not include the setting of interest rates.The credit card companies say that failed payments during the recession are the reason why interest rates are so high. However, this is becoming harder to accept considering the all-time low Bank of England base rate of 0.5 per cent.Craig Gedey, Marketing Manager at Debt Advisory Line said: &lsquo;Higher interest rates simply mean higher repayments for customers.&rsquo;&lsquo;Interest rates of 18 per cent will surely only force the credit card customers already struggling with repayments, further into debt?&rsquo;&lsquo;Higher interest rates may also tip some customers &lsquo;over the edge&rsquo; and into a situation where they... (read more) ]]></description>
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				<author>info@thedebtcounsel.co.uk (The Debt Counsel)</author>
				<title><![CDATA[ ?Missing? credit report information could affect your ability to get credit ]]></title>
				<link>http://www.thedebtcounsel.co.uk/news/missing-credit-report-information-could-affect-your-ability-to-get-credit</link>
				<guid>http://www.thedebtcounsel.co.uk/news/missing-credit-report-information-could-affect-your-ability-to-get-credit#366</guid>
				<pubDate>Fri, 19 Feb 2010 00:00:00 GMT</pubDate>
				<description><![CDATA[ A report from The Times says that &lsquo;There are estimated to be between 40 million and 50 million active financial accounts of all types, including mortgages and credit cards, classed as &ldquo;missing&rdquo; because they do not appear on the credit files held about borrowers by credit reference agencies.&rsquo;These &lsquo;missing&rsquo; financial accounts are the details of bank accounts, mortgages and credit cards opened before 2000. They are referred to as &lsquo;missing&rsquo; because they do not show on borrower&rsquo;s credit files held by credit reference agencies.The problem seems to stem from the fact that not all banks and building societies have joined industry-wide practices of sharing information about borrowers, even if the borrowers have given their permission. Legally, high street lenders are not obliged to share this information.Adverse credit information like missed payments and CCJs are already being shared more commonly by the banks.Policy adviser at Which? Vera Cottrell said: &ldquo;A missing account could have a significant impact on a lending decision. We do not think anybody should be forced to agree to share data, but if you are applying for credit it makes sense that lenders see what other accounts you have open. It is vital that the Government and the... (read more) ]]></description>
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				<author>info@thedebtcounsel.co.uk (The Debt Counsel)</author>
				<title><![CDATA[ Highest Credit Card Interest Rates since 1998 ]]></title>
				<link>http://www.thedebtcounsel.co.uk/news/highest-credit-card-interest-rates-since-1998</link>
				<guid>http://www.thedebtcounsel.co.uk/news/highest-credit-card-interest-rates-since-1998#365</guid>
				<pubDate>Wed, 17 Feb 2010 00:00:00 GMT</pubDate>
				<description><![CDATA[ Credit card interest rates now stand at an average of 18.8 per cent, which is the highest since 1998. Rather alarmingly some customers are reportedly facing interest payments of more than 40 per cent on their credit card borrowing.This recent hike in credit card interest rates may be seen as unfair by many UK consumers especially considering the fact that the Bank of England Base rate remains at a record low level.Research from the financial product comparison web site Moneyfacts.co.uk found that average interest rates on credit cards in 2006 were 14.8 per cent. The increase in interest rates to 18.8 per cent today means that credit card holders with an existing debt of &pound;5,000 now face additional interest payments of &pound;2,289 over the life of their debt.Moneyfacts.co.uk spokesman Michelle Slade said: 'The UK continues to suffer from a high level of unemployment and providers are worried about the increased risk of customers not repaying their debts. The increased risk continues to be passed on to both new and existing credit card customers through higher rates.''Other charges such as balance transfer, cash withdrawal and foreign transfer fees also continue to go up, leaving customers paying more across the board.'Research from... (read more) ]]></description>
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				<author>info@thedebtcounsel.co.uk (The Debt Counsel)</author>
				<title><![CDATA[ Mortgage applications up 14% in January ]]></title>
				<link>http://www.thedebtcounsel.co.uk/news/mortgage-applications-up-14-in-january</link>
				<guid>http://www.thedebtcounsel.co.uk/news/mortgage-applications-up-14-in-january#364</guid>
				<pubDate>Mon, 15 Feb 2010 00:00:00 GMT</pubDate>
				<description><![CDATA[ The monthly rental market report shows mortgage applications rose sharply in January 2010, up 14% on December 2009 and a 12% increase on January 2009.More competition between lenders for the returning first-time buyer market has also resulted in a new wave of high LTV products dominating its the Top 10 mortgage applications for January.The results are based on the activities of nearly 800 Countrywide mortgage consultants operating throughout the UK. They found that eight products in the Top 10 mortgage applications for January were designed with first-time buyers in mind - four of which were 90% LTV.The increasing number of 90% LTV mortgage products has pushed up the average interest rate of Countrywide&rsquo;s Top 10 mortgage applications to levels not seen since July 2009.The average interest rate has increased from 4.29% in December 09 to 4.78% in January 2010.Countrywide&rsquo;s findings also support recent reports that indicate a number of lenders have pushed up their standard variable rates, which might finally tempt remortgage customers.One consequence of this action is the increase in remortgage applications with Countrywide seeing a 3% increase in January 2010 compared to December 2009 &ndash; the highest level since June 09.Grenville Turner, group chief executive of Countrywide, says:... (read more) ]]></description>
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				<author>info@thedebtcounsel.co.uk (The Debt Counsel)</author>
				<title><![CDATA[ House prices rise by another 0.6%, the Halifax says ]]></title>
				<link>http://www.thedebtcounsel.co.uk/news/house-prices-rise-by-another-0-6-the-halifax-says</link>
				<guid>http://www.thedebtcounsel.co.uk/news/house-prices-rise-by-another-0-6-the-halifax-says#363</guid>
				<pubDate>Tue, 09 Feb 2010 00:00:00 GMT</pubDate>
				<description><![CDATA[ House prices have risen for the seventh consecutive month - rising by 0.6% in January compared with December, the Halifax has said.The average UK home was valued some 3.6% higher in January than a year earlier, at &pound;169,777.The figures show the continued trend of rising prices which has helped mortgage providers ease their lending criteria slightly. However, the Halifax is predicting that prices will stay flat overall in 2010.The Halifax, which is now owned by the Lloyds Banking Group, said that the average price of a UK home was now 9.9% above its trough in April 2009.However, housing economist Martin Ellis said that January's rise was more modest than in any of the previous six months. The average rise of the previous six months was 1.1%.Rising valuesThe annual rise is calculated using an average of the last three months with the same three months a year earlier. This has risen sharply owing to the low levels of a year ago. Interest rates have also been at a historically low level, which has helped make mortgages more affordable, Mr Ellis said. "The marked reduction in interest rates over the past 15 months has, from a low base, boosted housing demand from... (read more) ]]></description>
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				<author>info@thedebtcounsel.co.uk (The Debt Counsel)</author>
				<title><![CDATA[ Warning of non DEMSA registered Debt Management companies ]]></title>
				<link>http://www.thedebtcounsel.co.uk/news/warning-of-non-demsa-registered-debt-management-companies</link>
				<guid>http://www.thedebtcounsel.co.uk/news/warning-of-non-demsa-registered-debt-management-companies#362</guid>
				<pubDate>Fri, 05 Feb 2010 00:00:00 GMT</pubDate>
				<description><![CDATA[ Tim Moss, head of loans and debt at moneysupermarket.com, said: "We can expect to see around 30 per cent more applications for debt management plans this year and consumers have to be very careful when dipping their toe into this world, as it currently exists outside the realm of government regulation."Moss continued: "We have heard of horrific cases where up to six payments are taken in charges before a creditor is paid, this means you will have paid lots of money to the debt manager before they have cleared a single penny of your debt.&rdquo;"If you are going to use a debt management company you should only do so with your eyes wide open. Not being fully aware of all the charges involved could make a bad financial situation much much worse," he added.Craig Gedey, Marketing Manager at Debt Advisory Line said: &lsquo;We are one of the DEMSA accredited debt management companies listed on Moneysupermarket.com.&rsquo;&lsquo;It is vital that people seeking debt advice contact a DEMSA accredited Debt Company. This means that the code of conduct, as set out by DEMSA is adhered to at all times.&rsquo;&lsquo;People should also be aware that the DEMSA code of practice is approved under the... (read more) ]]></description>
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				<author>info@thedebtcounsel.co.uk (The Debt Counsel)</author>
				<title><![CDATA[ Collective UK personal debt hits &pound;1.46 trillion ]]></title>
				<link>http://www.thedebtcounsel.co.uk/news/collective-uk-personal-debt-hits-andpound-1-46-trillion</link>
				<guid>http://www.thedebtcounsel.co.uk/news/collective-uk-personal-debt-hits-andpound-1-46-trillion#361</guid>
				<pubDate>Thu, 04 Feb 2010 00:00:00 GMT</pubDate>
				<description><![CDATA[ It looks like the time lag between the beginning of recession in the UK and Britons losing control of their finances may have lapsed.A record 150,000 Brits could be facing insolvency, 15 per cent more than last year, as debt levels climb to around &pound;56,000 for every UK household. Personal debt, excluding mortgages, stands at around &pound;24,000 and on average people are trying to deal with 11 different creditors.These debts are made up of a combination of mortgages, credit cards and personal loans; with the per household debt being 60% more than the average pre-tax income.Not surprisingly there has been a 30 per cent increase in the number of people asking for debt help and the National Audit Office reports that some agencies are turning away new clients.Craig Gedey, Marketing Manager at Debt Advisory Line said: &lsquo;Seeking professional help as quickly as possible is key for these people today.&rdquo;&ldquo;If you are trying to deal with 11 different creditors then adding more to that list of debts with further borrowing is not the solution.&rdquo;&ldquo;At the Debt Advisory Line we give professional and impartial advice. We provide free initial advice from qualified debt advisors so that people are best informed to make... (read more) ]]></description>
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				<author>info@thedebtcounsel.co.uk (The Debt Counsel)</author>
				<title><![CDATA[ Every day 1,995 people are made redundant... ]]></title>
				<link>http://www.thedebtcounsel.co.uk/news/every-day-1-995-people-are-made-redundant</link>
				<guid>http://www.thedebtcounsel.co.uk/news/every-day-1-995-people-are-made-redundant#360</guid>
				<pubDate>Wed, 03 Feb 2010 00:00:00 GMT</pubDate>
				<description><![CDATA[ According to figures from Credit Action 1,995 people are made redundant every day in UK. This is despite all the recent reports that the UK is now officially out of recession as the last quarter of 2009 saw a 0.01% growth in Gross Domestic Product (GDP).Credit Action reports that every UK adult now owes &pound;30,252 which equates to 129 per cent of average earnings. Total UK personal debt stood at &pound;1,460bn at the end of 2009 which was 0.7 per cent higher than 2008.With such large personal debts redundancy can have a huge impact on an individual and their ability to make mortgage payments, other credit payments and may even impact on paying household bills such as utilities and food.In fact 386 people are reported to be declared bankrupt or insolvent every day and every 11.2 minutes a property is repossessed.Craig Gedey, Marketing Manager at Debt Advisory Line said: &ldquo;If people are struggling to keep up with repayments on their mortgage or other debts they should seriously consider speaking to a qualified debt management company.&rdquo;&ldquo;Ignoring your current debt levels and applying for more credit to pay off existing debts or bills is not a long term or viable solution.&rdquo;&ldquo;A good... (read more) ]]></description>
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				<author>info@thedebtcounsel.co.uk (The Debt Counsel)</author>
				<title><![CDATA[ Increased borrowing in December ]]></title>
				<link>http://www.thedebtcounsel.co.uk/news/increased-borrowing-in-december</link>
				<guid>http://www.thedebtcounsel.co.uk/news/increased-borrowing-in-december#359</guid>
				<pubDate>Mon, 01 Feb 2010 00:00:00 GMT</pubDate>
				<description><![CDATA[ For the first time since June 2009 the amount being borrowed on credit cards, loans and overdrafts was greater than the amount being repaid by consumers in the UK. This is a surprising change in the trend we&rsquo;ve seen so far - during an economic downturn consumers&rsquo; tend to pay off debts, especially when interest rates are so low.The main reason for this increase was credit card borrowing, which increased by &pound;195 million. With personal loans and overdraft borrowing the opposite was true with repayments still higher by &pound;143 million.Is this increased spending on plastic a direct result of consumer Christmas spending? Andrew Goodwin of Ernst and Young said: "The small increase in consumer credit is likely to be connected to consumers bringing forward purchases to avoid the VAT increase and a relapse is likely next month,""The household sector is continuing to deleverage and we expect consumers to provide little support to the recovery as it develops this year."The number of approved mortgages for purchases was down in December 2009 to 59,023 when compared to November 2009 but this was still higher than the average for the previous 6 months.&pound;1.2 Billion was double the average of the last 6 months... (read more) ]]></description>
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				<author>info@thedebtcounsel.co.uk (The Debt Counsel)</author>
				<title><![CDATA[ The UK Wealth gap is wider now than 40 years ago ]]></title>
				<link>http://www.thedebtcounsel.co.uk/news/the-uk-wealth-gap-is-wider-now-than-40-years-ago</link>
				<guid>http://www.thedebtcounsel.co.uk/news/the-uk-wealth-gap-is-wider-now-than-40-years-ago#358</guid>
				<pubDate>Fri, 29 Jan 2010 00:00:00 GMT</pubDate>
				<description><![CDATA[ A newly commissioned government report says that the gap between rich and poor is wider now than it was 40 years ago.The National Equity Panel, set up by the government in 2008, found that huge differences still remain between minority groups and also men and women when it comes to employment and pay.Of the people who have worked in what is classed as a top profession, fifty per cent of them have net assets worth more than &pound;900,000. This compares to only ten per cent of unskilled workers having total assets worth less than &pound;8,000.The report also revealed apparent discrimination against people from ethnic minorities. People from nearly every minority group were also reportedly less likely to be in paid employment than white British men and women.Equalities Minister Harriet Harman said: &ldquo; sustained and focussed attention&rdquo; would be needed and "But for the sake of the right of every individual to reach their full potential, for the sake of a strong and meritocratic economy and to achieve a peaceful and cohesive society, that is the challenge that must be met."Professor John Hills, who is the National Equity Panel Chair said "The challenge that our report puts down to all political... (read more) ]]></description>
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				<author>info@thedebtcounsel.co.uk (The Debt Counsel)</author>
				<title><![CDATA[ Warning: Be wary of companies claiming that loan agreements are unenforceable ]]></title>
				<link>http://www.thedebtcounsel.co.uk/news/warning-be-wary-of-companies-claiming-that-loan-agreements-are-unenforceable</link>
				<guid>http://www.thedebtcounsel.co.uk/news/warning-be-wary-of-companies-claiming-that-loan-agreements-are-unenforceable#355</guid>
				<pubDate>Mon, 25 Jan 2010 00:00:00 GMT</pubDate>
				<description><![CDATA[ Warning: Be wary of companies that may contact you claiming that loan agreements are unenforceable. As provider of your debt management plan it is important we make you aware that many of the statements about loan agreements are not only untrue but dangerously misleading.Independent regulatory bodies are all concerned about companies making these claims, charging vulnerable customers moneys up front and even diverting direct debits paying creditors only to find that the customer is in a worse position than when they began.The charity Citizens Advice said there had been a recent "rash" of BOGUS adverts from claims handling firms stating that most loan agreements were "unenforceable".  Among the BOGUS claims were: "Eighty percent of credit agreements are unenforceable" ; "Fifty million credit agreements are created every year, at least 25 million are unenforceable" ; "We'll get your credit cards written off within 6 weeks!" "Fast results guaranteed!".   The Ministry of Justice (MoJ), who regulate claims companies, have reviewed these claims resulting in an official crackdown on misleading adverts and companies.The Office of Fair Trading (OFT) have stated that they will not hesitate to take enforcement action against businesses who engage in unfair business practices by deliberately misleading... (read more) ]]></description>
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				<author>info@thedebtcounsel.co.uk (The Debt Counsel)</author>
				<title><![CDATA[ Parents forced back to work by debts ]]></title>
				<link>http://www.thedebtcounsel.co.uk/news/parents-forced-back-to-work-by-debts</link>
				<guid>http://www.thedebtcounsel.co.uk/news/parents-forced-back-to-work-by-debts#356</guid>
				<pubDate>Mon, 25 Jan 2010 00:00:00 GMT</pubDate>
				<description><![CDATA[ Recent research from Scottish Widows, the Pensions, Insurance and Savings Company confirms that 4 million UK parents will be forced back to work in 2010 because of increasing levels of debt.The Scottish Widows figures reveal that of around 6.6 million UK households with dependent children 4 million households are dependent on 2 or more salaries for the household. Overall 11.3 million UK households rely on more than one salary to cover household bills.Clive Allison, Scottish Widows Protection director, said: "The days of one parent going out to work while the other takes care of the family is just not an option for many people. Nearly half of families with dependent children now rely on two incomes to maintain a decent standard of living."Levels of debt also rocketed with children &ndash; the average household with dependent children has &pound;91,648 still outstanding on their mortgage, a &pound;3,000 jump from levels last year.But the average household with dependent children has carried over &pound;8,653 in short term debt over the last three months, compared to an average of &pound;7003 for those with no dependent children.Allison said: "This reliance on two incomes to run the family homes means millions of households are leaving themselves at... (read more) ]]></description>
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				<author>info@thedebtcounsel.co.uk (The Debt Counsel)</author>
				<title><![CDATA[ Since when did romance cost the Earth? ]]></title>
				<link>http://www.thedebtcounsel.co.uk/news/since-when-did-romance-cost-the-earth</link>
				<guid>http://www.thedebtcounsel.co.uk/news/since-when-did-romance-cost-the-earth#357</guid>
				<pubDate>Mon, 25 Jan 2010 00:00:00 GMT</pubDate>
				<description><![CDATA[ Valentine's Day is fast approaching and whilst you want to do something special for the one you love, times are tough and you&rsquo;re not able to spare a lot of cash.But being truly romantic doesn&rsquo;t need to cost a fortune and mean be the end of those good intentions to clear your debts, according to leading debt management company, Debt Advisory Line.Mike Ransom of Debt Advisory Line, holder of the title of Debt Management Provider of the Year, said: &ldquo;You can save money this Valentine&rsquo;s Day and still show your loved one how much they mean to you! Many people are still feeling the pinch from overspending during the festive season so January debt is still having a strong effect. Booking a table at a swanky restaurant can be extremely costly and coupled with the fact that you won&rsquo;t find much space to yourselves in a busy eaterie, it won&rsquo;t prove to be the romantic gesture you dreamed of!&rdquo;Debt Advisory Line has compiled some simple but effective money saving advice to help people make the most of Valentine&rsquo;s Day without ruining their well thought out budget plans.&bull; Meal deals and money saving offers - keep an eye on restaurant and... (read more) ]]></description>
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				<author>info@thedebtcounsel.co.uk (The Debt Counsel)</author>
				<title><![CDATA[ House prices up 1.1% on an annual basis ]]></title>
				<link>http://www.thedebtcounsel.co.uk/news/house-prices-up-1-1-on-an-annual-basis</link>
				<guid>http://www.thedebtcounsel.co.uk/news/house-prices-up-1-1-on-an-annual-basis#354</guid>
				<pubDate>Mon, 18 Jan 2010 00:00:00 GMT</pubDate>
				<description><![CDATA[ Prices in December were 1.1% higher on an annual basis, marking the first rise since March 2008, shows the latest Halifax House Price Index.Prices increased for the sixth successive month with December&rsquo;s rise slightly below the average for the preceding five months - 1.2%.  Prices in the final three months of 2009 were 3.5% higher than in Q3.  This is the biggest quarterly increase since 2006 Q4 - 4.2%. Prices have increased by 9.4% since reaching a low in April 2009; an increase in the average price of &pound;14,552 over this period. This follows a decline of 23% between August 2007 and April 2009. The average house price is now &pound;169,042. House prices in December were 1.1% higher on an annual basis. This is the first increase in the annual rate of change - measured by the average for the latest three months against the same period a year earlier - since March 2008. The annual rate has turned around markedly from a low of -17.7% in April.  Low mortgage rates have reduced the burden of servicing mortgage debt. Monthly repayments accounted for an estimated 23% of average gross household income in December 2009 for existing mortgage... (read more) ]]></description>
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				<author>info@thedebtcounsel.co.uk (The Debt Counsel)</author>
				<title><![CDATA[ Beat Blue Monday Misery by Creating a Debt Strategy ]]></title>
				<link>http://www.thedebtcounsel.co.uk/news/beat-blue-monday-misery-by-creating-a-debt-strategy</link>
				<guid>http://www.thedebtcounsel.co.uk/news/beat-blue-monday-misery-by-creating-a-debt-strategy#353</guid>
				<pubDate>Fri, 15 Jan 2010 00:00:00 GMT</pubDate>
				<description><![CDATA[ January 18th 2010, dubbed &lsquo;Blue Monday&rsquo; is known as the most depressing day of the year &ndash; that fateful day when Christmas overspending threatens to catch up with you.  The final full week of January is when the culmination of Christmas debts, broken new year resolutons, the return to work after the festive break and the extreme bad weather, combine to create a day of misery for many of us.Debt Advisory Line, which has been awarded the title of Debt Management Plan Provider of the Year experiences a 40% increase in calls to its debt advice centre in January with many customers being motivated to call because of the misery of impending bills in the New Year.  Mike Ransom of Debt Advisory Line explains how the amount of desperate people contacting the company soars at this time of year. He said: &ldquo;The day, coined according to a formula devised by happiness and motivation expert, Cliff Arnall definitely has firm foundations with many financial aspects behind its identification.&rdquo;&ldquo;December is one of the biggest spending months leading to a tough January for most of us.  This combined with the increase of home utility bills due to the extreme weather... (read more) ]]></description>
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				<author>info@thedebtcounsel.co.uk (The Debt Counsel)</author>
				<title><![CDATA[ Up to One Million UK households Using Credit Cards to Pay Mortgage or Rent ]]></title>
				<link>http://www.thedebtcounsel.co.uk/news/up-to-one-million-uk-households-using-credit-cards-to-pay-mortgage-or-rent</link>
				<guid>http://www.thedebtcounsel.co.uk/news/up-to-one-million-uk-households-using-credit-cards-to-pay-mortgage-or-rent#352</guid>
				<pubDate>Thu, 14 Jan 2010 00:00:00 GMT</pubDate>
				<description><![CDATA[ A Staggering one million UK households have used a credit card to pay their mortgage or rent during the last twelve months according to a new report from the housing charity Shelter.Shelter's Director of Policy and Campaigns, Kay Boycott said: ""If people are already struggling to the extent that they fear losing their home, increasing credit card debt cannot be the answer."Craig Gedey, Group Marketing Manager for The Debt Advisory Line commented: "The one million UK households equates to around 6 per cent of all UK homes. People should be aware that although a credit card is an unsecured debt more and more lenders are approaching the courts in order to have what is called a charging order secured against the borrowers property.""A charging order secures any unsecured debt against the borrowers property, which means that ultimately people could end up loosing their homes."The Debt Advisory Line encourage anyone experiencing utility bill, credit card, overdraft, or unsecured loan related debt problems to take a look at their web site at www.debtadvisoryline.co.uk to learn more about debt management and the various solutions available. Alternatively, they can call for free advice on 0800 157 7254. (read more) ]]></description>
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				<author>info@thedebtcounsel.co.uk (The Debt Counsel)</author>
				<title><![CDATA[ New statistics give us an insight into current personal debt in UK ]]></title>
				<link>http://www.thedebtcounsel.co.uk/news/new-statistics-give-us-an-insight-into-current-personal-debt-in-uk</link>
				<guid>http://www.thedebtcounsel.co.uk/news/new-statistics-give-us-an-insight-into-current-personal-debt-in-uk#351</guid>
				<pubDate>Wed, 06 Jan 2010 00:00:00 GMT</pubDate>
				<description><![CDATA[ Credit Action, a national money education charity, has recently updated its latest debt statistics for January 2010. The most striking figures show the Citizens Advice Bureau nationally are now dealing with over 9,300 new debt problems every day as the average household debt in the UK stands at a whopping &pound;57,888 including mortgages or &pound;9,016 excluding mortgages. It should be noted that this last figure rises to &pound;18,784 if the average is based on the number of households who actually have some form of unsecured loan.To put the numbers in to some kind of perspective if you take the average owed by every UK adult including mortgages the figure stands at &pound;30,226 (equivalent to 133% of average UK earnings). More importantly there are currently 11.1 million households with a mortgage who have an average outstanding balance standing at &pound;110,951.These figures prove that the UK is far from eliminating its culture of debt. In the final months of 2008 over 2,000 people were made redundant every working day with the banks and mortgage lenders repossessing a home for non-payment every 11 minutes during the working week. Britain is drowning in an ocean of debt and Debt Advisory Line is right at... (read more) ]]></description>
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				<author>info@thedebtcounsel.co.uk (The Debt Counsel)</author>
				<title><![CDATA[ Children to be educated on how to avoid debt ]]></title>
				<link>http://www.thedebtcounsel.co.uk/news/children-to-be-educated-on-how-to-avoid-debt</link>
				<guid>http://www.thedebtcounsel.co.uk/news/children-to-be-educated-on-how-to-avoid-debt#349</guid>
				<pubDate>Mon, 04 Jan 2010 00:00:00 GMT</pubDate>
				<description><![CDATA[ According to a report in The Observer on Sunday 3rd January 2010 by Anushka Asthana the government has released the details of new compulsory lessons for children on managing their finances as adults. These lessons will come under the new personal, social, health &amp; economic (PSHE) curriculum.Starting from September 2011 all five-year-olds will have lessons on how to save money in a piggy bank. As they progress through primary school, they will be taught about how to budget and learn about current and savings accounts. Once they move to their secondary school their financial education will continue with lessons on credit cards, mortgages and loans and there will it is promised be specific warnings about debt, ways to avoid debt and the importance of staying debt free.The government's decision follows a study by the Institute for Social and Economic Research and Ed Balls, the 'Children, Schools and Families Secretary believes that "it's really important that we teach our children about pensions, responsible saving and effective money management."Debt Advisory Line, awarded the Debt Management Provider of the Year award in both 2008 and 2009 is delighted to learn that the government is serious about educating young minds about the perils of... (read more) ]]></description>
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				<author>info@thedebtcounsel.co.uk (The Debt Counsel)</author>
				<title><![CDATA[ How can you avoid a New Year debt hangover? ]]></title>
				<link>http://www.thedebtcounsel.co.uk/news/how-can-you-avoid-a-new-year-debt-hangover</link>
				<guid>http://www.thedebtcounsel.co.uk/news/how-can-you-avoid-a-new-year-debt-hangover#350</guid>
				<pubDate>Mon, 04 Jan 2010 00:00:00 GMT</pubDate>
				<description><![CDATA[ Debt Advisory Line, the Debt Management Provider of the Year for 2008 and 2009, is reporting a large increases in those turning to the company for debt advice since October. In January 2009 Debt Advisory Line saw a massive 40% increase in new customers compared to the pre Christmas period and 2010 looks set to worsen for consumers nationwide.Mike Ransom of Debt Advisory Line said: &ldquo;The festive season is obviously a key emotive period for many where buying expensive gifts, entertaining and even hosting the Christmas dinner can leave a trail of destruction and people can end up with the headache of picking up the financial pieces when it&rsquo;s all over in January".Debt Advisory Line do have some suggestions for those who are determined to steer clear of debt in 2010:-- If you have debts try and switch them to a cheaper provider. For example, if you still have a good credit rating you might consider a zero percent balance transfer on credit card balances. Also, anyone with many expensive debts should might consider consolidating them with one "low cost" personal loan.-- Use any spare cash every month to pay towards store and credit card balances as fast as possible,... (read more) ]]></description>
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				<author>info@thedebtcounsel.co.uk (The Debt Counsel)</author>
				<title><![CDATA[ Consumers look to pay off debts in 2010 ]]></title>
				<link>http://www.thedebtcounsel.co.uk/news/consumers-look-to-pay-off-debts-in-2010</link>
				<guid>http://www.thedebtcounsel.co.uk/news/consumers-look-to-pay-off-debts-in-2010#348</guid>
				<pubDate>Thu, 31 Dec 2009 00:00:00 GMT</pubDate>
				<description><![CDATA[ Figures releases recently by the British Bankers Association (BBA) showed that consumer credit levels have contracted by 2.2% over the past year while the number of mortgage approvals has returned to the levels of two years ago.Demand for personal loans was particularly weak and balances had fallen by &pound;3.6bn over the year to date. In November 2009, people paid back &pound;300m more in total than they took out in new credit. David Dooks, Statistics Director for the BBA admitted that "demand for new personal loans was weak and people are paying off debt or building savings in response to economic circumstances". BBA figures showed that the increase in the amount of personal deposits and savings put in High Street bank accounts slowed in November compared with the previous month, but they were 3.9% up on the same month a year earlier.These figures from the BBA come hot on the tail of figures from the Office for National Statistics that show the household savings ratio - the percentage of disposable income that is saved - rose to its highest level since 1998. In the third quarter of the year, the proportion rose to 8.7% of income, as against 7.6% in the... (read more) ]]></description>
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				<author>info@thedebtcounsel.co.uk (The Debt Counsel)</author>
				<title><![CDATA[ Craig scores in debt advice exam success ]]></title>
				<link>http://www.thedebtcounsel.co.uk/news/craig-scores-in-debt-advice-exam-success</link>
				<guid>http://www.thedebtcounsel.co.uk/news/craig-scores-in-debt-advice-exam-success#345</guid>
				<pubDate>Wed, 23 Dec 2009 00:00:00 GMT</pubDate>
				<description><![CDATA[ Craig Gedey, Marketing Manager of Debt Advisory Line has successfully attained a &lsquo;Certificate in Debt Resolution&rsquo;, which makes him one of the first in the UK to be awarded the formal debt advice qualification.The qualification was awarded by The Debt Resolution Forum, a body which promotes professional standards for resolving debtors' financial problems. As the first Debt Advisory Line staff member to achieve the Forum&rsquo;s exam success, Craig has inspired 17 other Debt Advisory Line managers and team leaders to take the 9 month course in order to raise the standards of advice given to those facing debt even further.The comprehensive course includes an in depth 3 module learning programme incorporating Debt Resolution and Ethics, Debt Solutions in Detail and Case studies and practical application.Craig&rsquo;s studying was undertaken via a purpose designed on-line learning and resource system which enables staff to study at work or at home, in teams or as individuals. Each student is formally examined after studying each module, with only those successfully passing all 3 becoming qualified.  Craig can now use the designatory letters Cert DRF after his name to demonstrate his overall commitment and skills.Commenting on his success, Craig Gedey said: &ldquo;The qualification will significantly... (read more) ]]></description>
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				<author>info@thedebtcounsel.co.uk (The Debt Counsel)</author>
				<title><![CDATA[ Ex Atomic Kitten Kerry Katona plans to turn things around ]]></title>
				<link>http://www.thedebtcounsel.co.uk/news/ex-atomic-kitten-kerry-katona-plans-to-turn-things-around</link>
				<guid>http://www.thedebtcounsel.co.uk/news/ex-atomic-kitten-kerry-katona-plans-to-turn-things-around#346</guid>
				<pubDate>Wed, 23 Dec 2009 00:00:00 GMT</pubDate>
				<description><![CDATA[ The Sun newspaper reported on Friday 11th December that the ex Atomic Kitten star and a previous face of Iceland food stores is thinking of opening a fast-food emporium. Friends of the star claim she is thinking about opening either a 'kebab house', a 'fish &amp; choppy' or even a sandwich deli once all her financial affairs are properly sorted.2009 has been a testing year for Katona who was declared bankrupt and subsequently lost her &pound;200K per year contract with Iceland following the release of a video clip showing her snorting cocaine at her home in Wilmslow, Cheshire. Financial experts commenting on Katona's woes were not surprised by her financial plight believing it was "a disaster waiting to happen" and that it was inevitable for an individual who regularly spends more ha they earn. In Katona's case despite her immense earnings from advertising deals, magazine columns and books that was easily filtered away on luxuries as well as bikes and supercars for her now estranged husband Mark Croft.Debt Advisory Line who were recently named as the Debt Management Provider of the Year for the second year running receive hundreds of calls and enquiries every week from individuals who are struggling... (read more) ]]></description>
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				<author>info@thedebtcounsel.co.uk (The Debt Counsel)</author>
				<title><![CDATA[ Graduate debt levels on the rise as many fail to find work ]]></title>
				<link>http://www.thedebtcounsel.co.uk/news/graduate-debt-levels-on-the-rise-as-many-fail-to-find-work</link>
				<guid>http://www.thedebtcounsel.co.uk/news/graduate-debt-levels-on-the-rise-as-many-fail-to-find-work#347</guid>
				<pubDate>Wed, 23 Dec 2009 00:00:00 GMT</pubDate>
				<description><![CDATA[ Figures from the Higher Education Statistics Agency which have been analysed and published by the Conservative Party show an increase in the number of graduates unable to find full-time employment to almost 17% compared to a figure of 13.5% the previous year. The graduate job shortage is the result of a huge downturn in the economy coupled with an increase in recent years in the number of students attending and graduating from higher education.David Willetts, Conservative Shadow Universities Secretary, stated that "each one of these tens of thousands of graduates who are unable to find full time work represents an individual struggling to make ends meet, often with significant debts after three or more years of study". In response a spokeswoman from the Department for Business, Innovation &amp; Skills said: &ldquo;A degree is a good investment in your future career and even in during these difficult times graduates continue to do better than those with lower qualifications. The Government is committed to offering real help to graduates looking for work &hellip;&hellip;. at a time when they face a more competitive job market". Debt Advisory Line is extremely concerned by the growth in the number of enquiries they are getting from... (read more) ]]></description>
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				<author>info@thedebtcounsel.co.uk (The Debt Counsel)</author>
				<title><![CDATA[ Parents spending almost &pound;450 on Christmas Celebrations in 2009 ]]></title>
				<link>http://www.thedebtcounsel.co.uk/news/parents-spending-almost-andpound-450-on-christmas-celebrations-in-2009</link>
				<guid>http://www.thedebtcounsel.co.uk/news/parents-spending-almost-andpound-450-on-christmas-celebrations-in-2009#344</guid>
				<pubDate>Tue, 22 Dec 2009 00:00:00 GMT</pubDate>
				<description><![CDATA[ The Financial Services Authority's latest report claimed that that parents will spend &pound;442 on this year's Christmas celebrations. This figure is however a reduction on spending from last year according to at least 40% of the 3,000 people who were questioned during the research although 15% of respondents did admit that 2009 would see them spend more than they did in 2008.The FSA also found that over 50% of those questioned would be unable to cope financially should they experience a redundancy at work or any other financial shock. Chris Pond a spokesperson for the FSA commented that "it is clear that some families have no financial air-bag to protect them in the event of an accidental change in their circumstances, loss of a job, a bereavement or marriage breakdown. We urge all families to do what they can to handle their money the best way possible to enjoy a stress-free festive season."The same report showed that 16% of those questioned had struggled with money in the last 12 months and Debt Advisory Line are acutely aware of the increasing levels of debt and stress that many parents are finding themselves in. Awarded the title of Debt Management Provider of... (read more) ]]></description>
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				<author>info@thedebtcounsel.co.uk (The Debt Counsel)</author>
				<title><![CDATA[ 2.5 Million People were Struggling with Debt in the UK even before the Recession ]]></title>
				<link>http://www.thedebtcounsel.co.uk/news/2-5-million-people-were-struggling-with-debt-in-the-uk-even-before-the-recession</link>
				<guid>http://www.thedebtcounsel.co.uk/news/2-5-million-people-were-struggling-with-debt-in-the-uk-even-before-the-recession#343</guid>
				<pubDate>Mon, 21 Dec 2009 00:00:00 GMT</pubDate>
				<description><![CDATA[ A report in the Daily Telegraph on Thursday 10th December 2009 quotes figures released by the Office for National Statistics that were gathered between 2006 and 2008 before the recession really took hold.The statistics they gathered revealed that a staggering 2.5m households in Britain were struggling and unable to pay back mortgage and credit card debts. In effect, 10% of all UK households were in arrears being at least two months behind with debt repayments, missing either mortgage payments or unable to pay back the minimum amount on a credit card or loan. When you strip out the prudent households who had no debts the figure rises to a massive 17% of families that had some kind of unsecured debt (such as an overdraft, loan or credit card) missing at least two consecutive payments.This news comes as no surprise to organisations such as Debt Advisory line who have seen a constant increase in the number of people seeking free, confidential debt advice over the last few years. That trend has yet to slow and the recent slew of highly publicised mass job losses such as those at Corus in Teeside have added to public anxiety over the state of the... (read more) ]]></description>
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				<author>info@thedebtcounsel.co.uk (The Debt Counsel)</author>
				<title><![CDATA[ Plan to cap electricity bills ]]></title>
				<link>http://www.thedebtcounsel.co.uk/news/plan-to-cap-electricity-bills</link>
				<guid>http://www.thedebtcounsel.co.uk/news/plan-to-cap-electricity-bills#342</guid>
				<pubDate>Wed, 16 Dec 2009 00:00:00 GMT</pubDate>
				<description><![CDATA[ In an article in the Guardian newspaper on Thursday 10th December 20009, Tim Webb, Miles Brignall and Terry Macalister reported that they had learnt that electricity bills might be capped as a way of stopping consumers being exploited while ensuring that the energy companies invest the necessary &pound;200bn that will be required to transition to low carbon emissions.Ofgem and consumer bodies have attacked energy companies for not passing on the recent fall in wholesale energy prices to consumers, and a showdown between the industry and the government is inevitable according to many industry insiders. Now, sources that spoke to the Guardian believe that Ofgem is in principal in favour of the move which would remove one of the central 'planks' of energy privatisation which allowed companies to independently set electricity prices. A number of the so-called "big six" UK energy companies have stated that they would support price regulations as it guarantees them a fixed rate or return on the billions the UK Government wants them to invest in a new energy infrastructure which would include clean coal-fired plants.Debt Advisory Line, the Debt Management Provider of the Year in 2008 and 2009 believe this move to introduce a price cap... (read more) ]]></description>
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				<author>info@thedebtcounsel.co.uk (The Debt Counsel)</author>
				<title><![CDATA[ Average UK energy bills to pass &pound;4,000 per annum ]]></title>
				<link>http://www.thedebtcounsel.co.uk/news/average-uk-energy-bills-to-pass-andpound-4-000-per-annum</link>
				<guid>http://www.thedebtcounsel.co.uk/news/average-uk-energy-bills-to-pass-andpound-4-000-per-annum#341</guid>
				<pubDate>Tue, 15 Dec 2009 00:00:00 GMT</pubDate>
				<description><![CDATA[ In recent research by Uswitch.com it has been suggested that household energy bills for the average family home could rise by a staggering &pound;550 a year. The huge rise in bills would be required as a direct result of the massive investments promised by the main UK energy market suppliers which include increasing the volume of renewable energy sources and the roll-out of the smart meters such as those promised by British Gas in the last month. All of these improvements combined with the increases we are seeing in raw energy prices could mean that by 2020 the average annual energy bill could well top an incredible &pound;4,700.Despite OFGEM releasing details of its latest five year settlement that appear reasonable the research from Uswitch.com maintains that rather than the &pound;4.30 OFGEM envisages as a rise there may well be increases for consumers as large as &pound;548 every year on their energy bills. Should this or anything close to it be the case then staff and management at Debt Advisory Line fear that fuel poverty levels in the UK will spiral out of control. Craig Gedey, Marketing Manager at Debt Advisory line commented that "when the average UK household needs to... (read more) ]]></description>
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				<author>info@thedebtcounsel.co.uk (The Debt Counsel)</author>
				<title><![CDATA[ Debt Advisory Line Working to Highest Standards with DEMSA Membership ]]></title>
				<link>http://www.thedebtcounsel.co.uk/news/debt-advisory-line-working-to-highest-standards-with-demsa-membership</link>
				<guid>http://www.thedebtcounsel.co.uk/news/debt-advisory-line-working-to-highest-standards-with-demsa-membership#340</guid>
				<pubDate>Mon, 14 Dec 2009 00:00:00 GMT</pubDate>
				<description><![CDATA[ Debt Advisory Line, one of the UK&rsquo;s leading providers of consumer debt advice, has become a member of DEMSA, the debt managers&rsquo; standards association.The body, established in 2000, encourages the highest standards within the debt management industry and promotes good practice throughout the sector; ensuring customers are dealt with in a responsible, compassionate and transparent manner. The DEMSA Code of Conduct carries approval under the Office of Fair Trading's Consumer Codes Approval Scheme (CCAS), the only such approval to be granted in this sector.Mike Ransom, Head of Business Development at Debt Advisory Line, highlighted the importance of being part of such a reputable organisation. He said: &ldquo;DEMSA membership is extremely important to Debt Advisory Line as it demonstrates to our customers that we comply with the standards set out in DEMSA&rsquo;s rigorous Code of Conduct, including compliance with statutory regulations and OFT debt management guidance as well as investing in first-class employee training.&rdquo;   The aim of the Code of Conduct is to encourage debt management companies to provide services of the highest standards in which the public and the credit industry can have confidence and to provide a high level of protection to the consumer.Mike Ransom continued: &ldquo;Debt... (read more) ]]></description>
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				<author>info@thedebtcounsel.co.uk (The Debt Counsel)</author>
				<title><![CDATA[ Parents admit to spending money they can&#039;t afford! ]]></title>
				<link>http://www.thedebtcounsel.co.uk/news/parents-admit-to-spending-money-they-can-t-afford</link>
				<guid>http://www.thedebtcounsel.co.uk/news/parents-admit-to-spending-money-they-can-t-afford#339</guid>
				<pubDate>Sun, 13 Dec 2009 00:00:00 GMT</pubDate>
				<description><![CDATA[ Headline Money recently carried the results of a research project carried out by Egg, the UK internet bank. Perhaps unsurprisingly for many commentators they found that three out of four parents admit to spending more money than they can afford over the festive season. This is especially poignant as these parents risk getting in to debt simply to keep their children entertained and amused during what many feel is the most stressful time of any year for a family.The poll which was conducted online questioned over 2,000 UK adults. Dramatically it found that the average family spends around &pound;40 every day during school holidays to keep the children occupied and happy. That stacks up to an amazing &pound;280 every week or over the two week Christmas holidays a staggering &pound;560. Vanessa Wood the spokesperson for Egg, said: "Christmas is the most expensive time of the year for a lot of families - but being smart about how you spend money can really help spread the cost of Christmas". Debt Advisory Line, the Debt Management Provider of the Year in 2008 and 2009 would certainly agree with this sentiment. Anyone considering any debt should fist and foremost feel secure in their... (read more) ]]></description>
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