loans

'Rent-to-own’ price cap planned - but households could still pay DOUBLE the cost of products in fees and interest

Rent-to-own retailers face a price crackdown after the financial watchdog proposed a cap on this type of high-cost lending. 

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My bank won’t lend me more money because I’m too old

It’s a decade since reader EF’s husband died. He used to sort out all the finances, so she asked her children to help since his death.

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Problem debt costing taxpayers £250 million a year

The growing level of problem debt is costing taxpayers almost a quarter of a billion pounds every year as well as having wider economic consequences, according to the National Audit Office (NAO).

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Households struggle to pay bills as demand for debt help hits five-year high

Demand for help with debt is expected to reach a five-year high as more families struggle to pay household bills, according to National Debtline.

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Exclusive: Wonga complaints rise by 3,000% in four years

Exclusive figures obtained by Moneywise reveal that complaints handler Resolver saw a 3,378% increase in Wonga cases between 2014 and 2018.

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My Community Bank Wales collapse triggers £500,000 payout

The Financial Services Compensation Scheme (FSCS) has stepped in to repay members of My Community Bank Wales after the credit union fell into administration.

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Wonga collapses into administration

Payday lender Wonga has announced plans to file for administration.

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Wonga stops new loans & edges towards collapse

Payday lender Wonga has announced it is no longer taking new loan applications, as speculation mounts over the company’s future.

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'Confusing and misleading' personal loan APRs cost consumers £204 million every year

Borrowers are being misled by teaser headline rates on personal loans, putting their financial wellbeing in jeopardy.

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Complaints about consumer credit rise by 40%

Consumers continue to voice more complaints about credit products and services, with the number of complaints rising 40% year-on-year according to arbitration body the Financial Ombudsman Service.

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