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Payday Loans Still RULE in The UK Despite Wonga Collapse!

Payday Loans Still RULE in The UK Despite Wonga Collapse!

Campaigners have raised alarm over British households continued overdependence on payday loans despite Wonga’s collapse. This can be attributed to the current economic pressures. British households must rely on high-cost short-term debt to survive the tough economic conditions currently. The… Continue Reading

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Bank of England’s Ramsden Hints Interest Rate Hike In August

Bank of England’s Ramsden Hints Interest Rate Hike In August

According to the Bank of England (BOE) deputy governor, the UK economy stands to emerge from economic slowdown as wage pressures increase. The chances of a rate hike in August are high after a cautious policy setter at the BOE… Continue Reading

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Banks Issuing Debt at Fastest Rate in 8 Years While Household Debts Soars

Banks Issuing Debt at Fastest Rate in 8 Years While Household Debts Soars

According to the latest Bank of England data, net new issuance of commercial paper and bonds stood at £17.5 billion in November 2017. This statistic shows that November 2017 was the busiest month for UK businesses and banks since October… Continue Reading

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New Report Warns Average UK Family Will Be 15k In Debt By 2020.

New Report Warns Average UK Family Will Be 15k In Debt By 2020.

A recent TUC (Trades Union Congress) report shows that the average UK family will be £15k in debt by the year 2020. The shocking report revealed that UK households are heavily dependent on credit cards and payday loans. Unsecured debt… Continue Reading