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Zurich: Retirees forced back to work Equifax: ID fraud fear bigger than street crime Fool.co.uk: Recession will harm those in debt but help first-time buyers ABI: Consumers failing to protect themselves against financial uncertainty Chelsea: Household bills eat into savings Fool.co.uk: Britons must prepare for recession Older people helped with over £350k of debt Negative equity should be viewed within "the broader picture" Redundancy protection should be a "priority" Financial advice offered to young adults A third of Britons claim to be `unaffected` by credit crunch Richest and poorest most affected by credit crunch Homeowners`must` seek advice over repossession threats Brits `wasting money` by not shopping around Lack of savings "a huge problem" Debt advice `essential` for consumers with large debts Food cost warning issued by UN Fool highlights impact of wedding debt Household spending squeeze `not just a blip` Consumers `shouldn`t rely heavily on credit`

Debt Advisers Direct comment on BoE Financial Stability Report

12/05/2008

Commenting on the Bank of England’s Financial Stability Report, Melanie Taylor of Debt Advisers Direct said: “The experts seem divided on whether or not we’re past the worst of the credit crunch, and the BoE’s Report reads as a warning not to talk ourselves into an avoidable recession.”

“Despite the complex language, it’s a simple message to lenders: you were too eager to lend money, but now you’re being too cautious, and neither extreme is healthy, as a healthy economy depends on consumers and businesses having access to a reasonable level of credit. Far from denying there are still problems ahead, the BoE is simply stating that too much pessimism will discourage the risk-taking and confidence that lead to recovery.”

“In figures, the BoE thinks that future losses from sub-prime investments will be about half as much as the market currently believes. And its offer to exchange mortgage debts for government bonds shows it’s confident about this assessment – the BoE is ‘putting its money where its mouth is’.”

Sainsbury`s Bank: Credit card rewards worthwhile - if you redeem them 17/07/2008 - Sainsbury`s Bank has commented on the use of reward schemes Your Mortgage: US mortgage situation may lower UK confidence 16/07/2008 - The USA`s mortgage company situation will have "an indirect effect" Equifax: ID fraud fear bigger than street crime 16/07/2008 - Nearly 20,000 British people have been victims of identity fraud, Zurich: Retirees forced back to work 16/07/2008 - New research has found British people of retirement age are