What are the concerns over “risky” business debt?
According to the old joke, a banker is someone who will happily lend you an umbrella when the sun is shining but ask for it back the moment it starts to rain. Over recent years, however, the nature of bank lending has become much more controversial than that classic joke would suggest. The ghost of […]
Famous names we said goodbye to in 2018
As any given year draws to a close, it’s traditional for there to be articles reviewing it and, in particular, paying tribute to those we’ve lost during that past year, so, in keeping with this tradition, here is a quick round-up of some famous brand names which disappeared during 2018 and some thoughts on what […]
3 Debt Excuses Busted
Debt is sometimes a pretty-much unavoidable fact of life. It would be nice, for example, if we could all afford to buy houses out of cash savings, but for many people mortgages are the only feasible way of owning a home. While “good” debt may have a purpose, it can still be an advantage to […]
Will The Chancellor Tackle Debt?
While it’s understandable that media outlets reported extensively on the demise of Wonga, there’s definitely a case for arguing that the publicity surrounding its administration was, not to put too fine a point on the matter, way out of all proportion to the number of people impacted by its activities. Government debt, however, is often […]
Business security is about more than just alarm systems
When you think about security for businesses what springs to mind? Do you think about physical security, cyber security or financial security? The truth is that all three are component parts of one whole, which means that missing out on any one of them could put your business into serious danger. Physical security Effective physical […]
Neither a borrower nor a lender be
Generally speaking, there seems to be a conspicuous absence of public sympathy for lenders who get into financial trouble. Probably the most obvious example of this is Wonga, the demise of which has largely been met by outright jubilation. The mainstream lenders, however, are not necessarily vastly more popular, as seen by the fact that […]
Persistent debtors – the new rules
It was arguably a rather ironic coincidence that notorious payday lender Wonga entered into administration the day before new rules concerning persistent debt came into force (31st August 2018 and 1st September 2018 respectively). Admittedly, these new rules relate specifically to credit card debt rather than to debt in general, but they still highlight the […]
The darker side of debt
Some people like to talk about “good debt” and “bad debt”, the former being debt which is used to be an asset, whether that’s a tangible one such as a house or an intangible one such as an education, while the latter being, for want of a better term, consumer debt, without anything to show […]
Why is the UK so reliant on credit?
From the first of September, credit card lenders will have to abide by new rules set down by the FCA and aiming to tackle “persistent debt”. According to the FCA, the definition of persistent debt is paying more in interest, fees and charges than in capital repayments over a period of 18 months. While cynics […]
Could interest rate rises be a bubble buster for those with large debt?
In principle, when interest rates go up, savers win and borrowers lose, but they do not necessarily win and lose equally. Savers may be happy enough to take anything extra they can get, but borrowers who are already stretched could really start to feel the pinch. Understanding the workings of interest rates Lowering interest rates […]