Home > News > Debt advice

Energy firms `not refunding overpayments automatically` Average household £7 a week richer but debt levels remain high Consumers `cutting back on credit card debt` Mortgage debt often greater than house value Household energy bills `could top £4,700 a year by 2020` Many over 50s `facing financial difficulties` CML lowers repossession prediction Higher electricity prices will pay for carbon capture Unemployment set to rise Inflation speculation `greatly exaggerated` Unemployment reaches 12-year high UK recovery `to start in 2010` People `may be risking finances due to lack of pension savings` Economy `may be bottoming out` Fuel poverty still putting billpayers at risk of debt More than 20% using savings to `pay down` debt Housing market - buyer interest is up ISA rate cuts could raise debt risk Online retail sales to grow Consumers take up gardening to avoid debt

Redundancy protection should be a "priority"

26/06/2008

A finance expert has recommended people cover themselves against redundancy in the midst of the credit crunch.

David Kuo, head of personal finance at money information site Fool.co.uk, said protecting yourself from the threat of redundancy "will provide some peace of mind".

"With the credit crunch nibbling away at economic growth, protection from redundancy may be more of a priority," he commented.

However, Mr Kuo advised consumers to shop around to find the best insurance deal and to make sure they are aware of any exclusions by reading the small print.

Last month, Fool.co.uk found a quarter of consumers try to self-insure by saving money for emergencies rather than taking out official policies.

Many consumers area also unaware of how much cover they have while spending over £1,500 a year on insurance, according to the research.

Recent findings from Deloitte indicate consumers are trying to save money on their insurance policies. The figures, obtained by YouGov, show people may cut back on travel, health and pet insurance and choose third-party motor insurance over comprehensive in the future.

Energy firms `not refunding overpayments automatically` 01/07/2009 - A new report by consumer group Which? has claimed that Average household £7 a week richer but debt levels remain high 01/07/2009 - During May, a typical household had £164 a week left Consumers `cutting back on credit card debt` 01/07/2009 - Many UK consumers are cutting back on the amount of Mortgage debt often greater than house value 01/07/2009 - According to the latest findings from global rating agency Fitch,