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Debt in the UK has surpassed, for the first time, the total annual income for all UK’s residents. Total debt stands at £1,335 trillion whereas total income stands at £1,300 trillion per year. However, with the rising cost of property the total UK assets stand at over £6,000 trillion.
This works out at just over £22,000 [...]

Tags: annual-income, assets, credit-cards, debt, indiana-loans, loans, mortgages, total-debt, total-uk-debt, trillion, UK-debt

UK pensioners owe £57 billion on mortgages, credit cards and loans, a study from Scottish Widows claims. Research from the financial group found that almost a third of those over the age of 65 are £5,900 in debt on average. Ian Naismith, head of Scottish Widows pensions market development, said: “By the time they come [...]

Tags: indiana-loans, pensioners

UK consumers are increasingly turning to the British Bankers Association’s (BBA) account tracking service to claim money from dormant accounts. Claims using the BBA service have surged more than thirty-fold due to an awareness drive by banks, building societies and National Savings & Investment. Customers are claiming forgotten assets worth between £350 million and £500 [...]

Tags: BBA, BSA, dormant-accounts, indiana-loans