Home > News > Debt advice

US: new law provides debt-free date More debt taken on than repaid in December Savings rise as consumers pay down debt Household debt `could trigger another downturn` More families could fall into debt with energy companies Recession ends Debt defaults lower than expected Britons take three months to clear Christmas debts Budgets to be `squeezed` in second half of 2010 Irish Reduce debt Teenagers concerned about parents` debt Homeowners reduce mortgage debt Advice issued to help people avoid Christmas debt Mortgage lending falls 10% in November Cost of new mortgage debt drops Families facing debt this winter `Upsurge` in homeowners struggling to service mortgage debt Cost of debt - CFA wants `level playing field` Debt news: Britons `more inclined` to spend than save Pre-Budget Report `fails to ease debt fears`

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’.”

US: new law provides debt-free date 02/02/2010 - Thanks to a new law, credit card providers in the More debt taken on than repaid in December 01/02/2010 - According to figures from the Bank of England (BoE), in Savings rise as consumers pay down debt 29/01/2010 - According to a survey of 13,000 savers by ING Direct, Household debt `could trigger another downturn` 28/01/2010 - The high level of debt carried by the British public