“It’s not that I forgot….”

Seasonal research from Abbey has revealed that the economic downturn has led many Britons to cut back on Valentine’s Day spending.
But figures from the Halifax Credit Cards revealed that Britons not only spend money on eating out and gifts each February, but also on their own appearance.
The average card holder spent £43 on cosmetics and £38 on shoes in order to impress a date.
But there are still some big spenders around romantically shelling out sums that might require personal loans. Regional data from Halifax found that customers in the south spent £504 on holidays to woo their loved ones, while consumers in the north spent £186 on jewellery.

June 14, 2009 at 10:40 am | personal loan | No comment

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Are you over-indebted?

In a scary move leading banks have signed up to a system developed by Callcredit which allocates scores to consumers based on what is termed their ‘over-indebtedness’.
The Department for Trade and Industry, which is now the Department for Business, Enterprise and Regulatory Reform, defined an individual as over-indebted if 25 per cent of their net monthly income was used to pay debt commitments.
Under the new system, which has been adopted by Halifax and Lloyds TSB, owned by Lloyds Banking Group, HSBC, and the Royal Bank of Scotland even prime borrowers with no history of defaulting could be rejected for a personal loan if their credit commitments take up too much of their income.
Funny it doesn’t seem too long ago that some of these organisations wanted you to have as much debt as possible regardless of your ability to repay – or did I misunderstand?

June 11, 2009 at 12:01 pm | Bad Credit Loans, Unsecured Bad Credit Loans, Unsecured Loans | No comment

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