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.... . When his business empire ran into financial difficulty, he handed the yacht to the Sultan of Brunei who sold it on to Donald Trump, now president of the US, for a reported $29m in the 1980s. ... [Read full article on BBC ]
Tuesday 6th of June 2017 06:37:25 PM
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Latest Finance News related to Financial Difficulty

Adnan Khashoggi: Saudi billionaire arms dealer dies aged 82 image
Source : BBC [Read Article] Tuesday 6th of June 2017 06:37:25 PM
.... . When his business empire ran into financial difficulty, he handed the yacht to the Sultan of Brunei who sold it on to Donald Trump, now president of the US, for a reported $29m in the 1980s. ...
Debt fears remain despite manifesto 'breathing space' plans image
Source : BBC [Read Article] Monday 22nd of May 2017 11:24:11 PM
....Mike O'Connor, chief executive of debt charity StepChange, said: "In addition to better protections for people in debt, the next government should commit to action to prevent the 8. 8 million people currently showing signs of financial difficulty from falling into serious hardship. ...
Debt fears grow as county court judgments soar by 35% image
Source : Guardian [Read Article] Monday 15th of May 2017 05:07:52 PM
.... It said that the average value of a judgment in the first quarter of 2008 stood at £3,662. Peter Tutton, the head of policy at debt charity StepChange, said he was concerned that banks were moving more quickly to prosecute people in financial difficulty. ...
Number of second charge mortgages leaps to nine-year high image
Source : Guardian [Read Article] Friday 12th of May 2017 03:10:13 PM
....But StepChange said the rise in debt from second mortgages left thousands more families vulnerable to higher levels of inflation and a slowdown in wage rises, divorce or redundancy. Peter Tutton, head of policy at StepChange, said: “The next government, regulators and lenders need to ensure that the mistakes made in the lead-up to the financial crisis are not repeated and that there are better policies in place to protect those who fall into financial difficulty. ...
Bank of Mum and Dad is a major financial player - but could it be about to go bust? image
....This is upping the financial pressure on parents who continue to pick up the bill when children are earning enough themselves. He adds: “If subsidising your adult children is causing you financial difficulty, it could be time to cut the purse strings. ...
Debt-ridden courier's suicide after bailiff visit prompts call for reforms image
....1m debts were passed to bailiffs – a rise of 16% on two years earlier. The laws covering bailiffs in England and Wales changed in April 2014 to toughen up protection against “unsound, unsafe or unfair methods” used by some in the industry, but the coalition of charities behind the recent report said the changes were “failing to protect people in financial difficulty”. ...
Lloyds to pay £100m fraud compensation image
Source : BBC [Read Article] Friday 7th of April 2017 08:40:13 AM
....The bank said it would provide such victims with immediate payments on a case-by-case basis. Those in financial difficulty will be helped with day-to-day living costs. ...
Lloyds expects payouts to HBOS fraud victims to total £100m image
Source : Guardian [Read Article] Friday 7th of April 2017 08:16:49 AM
....The lender said that it will pay compensation for “economic losses, distress and inconvenience” as part of a package of measures to assist victims. This includes providing interim payments on a case-by-case basis to help those in day-to-day financial difficulty as a result of the fraud, covering “reasonable” fees for professional advice to customers and writing off remaining business and personal debts owed to Lloyds, and not pursuing repayment. ...
£100MILLION - that's how much Lloyds expects to pay out in fraud compensation image
....The lender said that it will pay compensation for "economic losses, distress and inconvenience" as part of a package of measures to assist victims. This includes providing interim payments on a case-by-case basis to help those in day-to-day financial difficulty as a result of the fraud, covering "reasonable" fees for professional advice to customers and writing off remaining business and personal debts owed to Lloyds and not pursuing repayment. ...
Struggling credit card holders could see fees and charges waived image
Source : Guardian [Read Article] Monday 3rd of April 2017 10:37:47 AM
.... It comes after the watchdog became concerned about the “scale, extent and nature” of the credit card debt problem following a market study. Alongside these measures, the watchdog has also revealed proposals to make companies use their data to intervene early to help customers in financial difficulty. ...
UK households’ savings fall to record low in warning sign for economy image
....Rachael Griffin, a financial planning expert at fund manager Old Mutual Wealth, said the figures were a “wake-up call” for people who were prioritising short-term spending over financial security. “A worrying number of households do not have any sort of cash savings or insurance to protect against financial difficulty if life throws unexpected challenges at them. ...
Bradford & Bingley mortgage sale raises £11.8bn image
Source : BBC [Read Article] Friday 31st of March 2017 06:57:25 AM
....What's left in the portfolio which remains with the taxpayer? Some more buy-to-letters and, crucially, 56,000 residential borrowers. They include many stuck on an interest rate of nearly 5%, thousands in financial difficulty and over a thousand who have been referred for help in dealing with debt. ...
Bailiff industry still problematic, say charities image
Source : Guardian [Read Article] Tuesday 14th of March 2017 08:00:16 AM
. Bailiffs are continuing to intimidate vulnerable people in financial difficulty, despite a government crackdown on the issue, a group of charities has warned. ...
Mike Ashley firm buys lingerie firm Agent Provocateur image
Source : BBC [Read Article] Thursday 2nd of March 2017 04:27:32 PM
.... . It is usually agreed before the company is publicly declared to be in financial difficulty. ...
'I set myself on fire' image
Source : BBC [Read Article] Friday 13th of January 2017 12:16:58 AM
.... . The Commonwealth Bank has denied any inappropriate behaviour and said the case had been subject to an independent review by the Financial Ombudsman Service, which found the bank had given "genuine consideration to the applicant's requests for assistance with her financial difficulty". ...
'It's a financial cliff edge': how Britain fell back in love with credit cards image
.... “There are millions of people in persistent credit card debt, with the market structured to allow this to happen because it is profitable [for the industry] for people to be stuck making minimum repayments,” says Tutton. “Lenders, regulators and the government need to ensure that the mistakes made in the lead-up to the financial crisis are not repeated and that there are better policies in place to protect those who fall into financial difficulty. ...
How to tackle your debts if you overspent this Christmas image
Source : Guardian [Read Article] Saturday 7th of January 2017 07:00:12 AM
....5 million people are likely to look for help or advice. If you are in financial difficulty then seek free advice from somewhere such as National Debtline (see below) as early as possible, but if your situation isn’t so dire there may be another remedy for your Christmas debt hangover. ...
UK credit binge approaching levels not seen since 2008 crash image
Source : Guardian [Read Article] Wednesday 4th of January 2017 01:41:55 PM
....“Previous experience shows how such increases in the levels of borrowing can leave households over-indebted and vulnerable to sudden changes in circumstances and drops in income that can pitch them into hardship. “Lenders, regulators and the government need to ensure that the mistakes made in the lead-up to the financial crisis are not repeated and that there are better policies in place to protect those who fall into financial difficulty. ...
Household debt rises to post-credit crunch high image
Source : BBC [Read Article] Wednesday 4th of January 2017 11:26:03 AM
....'Spiralling debts cost us our home'. Step Change says lenders, regulators and the government need to ensure that the mistakes made in the lead-up to the financial crisis are not repeated, and is calling for better policies to protect those who fall into financial difficulty. ...
London car hire company leaves customers with worthless bookings image
Source : Guardian [Read Article] Thursday 22nd of December 2016 05:52:38 PM
.... “They missed paying us at the end of November and we couldn’t reach them so took them immediately off our site as a precautionary measure. Until then, there was no sign of financial difficulty and payments were up to date. ...
FCA considers £1m compensation limit to increase protection for pensioners image
Source : Guardian [Read Article] Wednesday 14th of December 2016 01:29:36 PM
.... “Therefore, a £1m limit would have provided virtually 100% protection in that period,” stated the report. It added: “With only the lower compensation limit in place, pensioners could potentially be placed in financial difficulty with little or no chance to replenish their savings. ...
Care homes in crisis as revised figures reveal surge in insolvencies image
Source : Guardian [Read Article] Tuesday 22nd of November 2016 05:51:54 PM
....FRP Advisory, the consultancy firm which uncovered the revision in the government data, said the surge in the number of insolvencies only revealed part of the financial problems in the industry. Chris Stevens, partner at FRP, said: “Corporate insolvencies only tell part of the picture as many care home closures or business failures occur via receiverships – processes where lenders can often take control of premises owned by sole traders or partnerships in financial difficulty. ...
25 texts and emails a day: how payday loan firms hound vulnerable borrowers image
Source : Guardian [Read Article] Saturday 12th of November 2016 07:00:43 AM
....”. In a report published on Wednesday the charity said that nearly two years on from the introduction of tough regulations, the payday loans market “continues to show signs of irresponsible lending and poor treatment of people in financial difficulty”. ...
RBS to compensate squeezed firms image
Source : BBC [Read Article] Monday 7th of November 2016 11:38:52 PM
....On Tuesday, the FCA said it found there was no widespread practice of transferring customers to GRG for their value, or requesting cash injections when the bank had no intention of supporting the business. Small businesses that were transferred to GRG "were exhibiting clear signs of financial difficulty," the FCA said. ...
Higher inflation and rising debt threaten millions in UK image
Source : Guardian [Read Article] Saturday 5th of November 2016 09:01:32 PM
. UK households should brace themselves for a combination of rising inflation, low pay and increased debt that will squeeze living standards next year and push more people into financial difficulty, experts have warned. ...
FCA to investigate bank overdraft and loan fees image
Source : Guardian [Read Article] Thursday 3rd of November 2016 08:58:44 AM
....Joanna Elson, chief executive of the Money Advice Trust, the charity that runs National Debtline, welcomed the move to look at overdraft charges again. “The CMA’s proposed monthly maximum charges are a small positive step but are ultimately unlikely to make the difference required in bringing down the extremely high charges that many people in financial difficulty end up paying,” she said. ...
Bernard Matthews pension deal questioned image
Source : BBC [Read Article] Sunday 9th of October 2016 11:10:29 PM
....The sale of Bernard Matthews was made through a "pre-pack" arrangement, under which a buyer is lined up to buy the assets of a company, but not its liabilities, such as its debt and pension deficit. It is usually agreed before the company is publicly declared to be in financial difficulty. ...
A man for all seasons image
Source : BBC [Read Article] Sunday 9th of October 2016 11:05:02 PM
...."From day one until today, it was about being innovative," says Mr Sharp. It wasn't all plain sailing for the business though, as the firm found itself in some financial difficulty during the mid-1970s recession that followed the 1973 oil crisis. ...
Banker 'corrupted by boys' jollies perks' image
Source : BBC [Read Article] Tuesday 27th of September 2016 01:39:54 PM
....David Mills, Michael Bancroft, Mark Dobson, Alison Mills, Jonathan Cohen and Tony Cartwright have pleaded not guilty. Prosecutors said that between 2003 and 2007, Mr Scourfield abused his role overseeing the supposed recovery of small business customers of the bank throughout the South of England who were in financial difficulty. ...
Banking fraud and corruption trial starts image
Source : BBC [Read Article] Monday 26th of September 2016 04:16:33 PM
....He was the former head of the HBOS "impaired assets" division in Reading. Prosecutors allege that between 2003 and 2007, he abused his role overseeing the supposed recovery of the bank's small business customers who were in financial difficulty, in the whole of the South of England. ...
New students face tricky choice of bank image
Source : BBC [Read Article] Friday 2nd of September 2016 09:06:38 PM
.... The problem was particularly acute near the end of term, and it called for student financial support to be paid monthly. The most common reason that students gave for "seriously considering" leaving their course was financial difficulty, it said in its Pound in Your Pocket report. ...
Mortgage approvals at 18-month low, says Bank of England image
Source : BBC [Read Article] Tuesday 30th of August 2016 09:08:06 AM
....5bn. "We remain concerned that while most households will be able to handle this extra borrowing, a minority of households could find themselves exposed to financial difficulty," said Joanna Elson, chief executive of the Money Advice Trust. ...
Debt woes 'weigh heavily' on young people, survey finds image
Source : BBC [Read Article] Monday 29th of August 2016 11:00:11 PM
.... The average student loan balance is £25,505. National Debtline, run by the trust, says that too few young people are seeking free advice from debt charities when they fall into financial difficulty. ...
More than 1.5m UK households in extreme debt, says TUC report image
Source : Guardian [Read Article] Monday 22nd of August 2016 11:01:17 PM
....Peter Tutton from the StepChange debt charity said: “Every week we see thousands of households struggling to keep up with their essential bills and credit repayments. When budgets are stretched to the limit, even a small income shock can push people into serious financial difficulty. ...
Credit card firms ignore persistent debt, says FCA image
Source : BBC [Read Article] Tuesday 26th of July 2016 09:29:49 AM
....It found the credit card market was working fairly well for most customers, with competition leading to a string of deals to choose from. The regulator displayed more concern for those in persistent debt, who would be exposed to financial difficulty were they to lose their jobs or fall ill. ...

Who is Tim Kaine, Hillary Clinton's VP running mate?
 image
Source : Telegraph [Read Article] Friday 22nd of July 2016 03:20:49 PM
....The Virginia senator also has a strong economic record - a key issue in this election - which should stand him in good stead under the scrutiny Vice Presidential candidates face. He became his state's governor just before the financial crisis but managed to spare Virginia the extent of financial difficulty experienced in other states. ...
Call for cold-calling ban on loans image
Source : BBC [Read Article] Wednesday 13th of July 2016 10:37:15 AM
...."The problem is particularly serious among the most financially vulnerable in our society," said Mike O'Connor, chief executive of StepChange. "When someone is already in financial difficulty, they may be at their lowest ebb and feel they have no option but to make quick decisions through desperation, which can bring devastating consequences. ...
Councils too quick to send in bailiffs, says Citizens Advice image
Source : BBC [Read Article] Thursday 7th of July 2016 11:21:31 PM
....A report from Citizens Advice says some councils also add extra charges, or take court action, rather than arrange manageable repayment plans. The effect is to push people who are in financial difficulty even further into the red. ...
Rent-to-own firms 'selling to vulnerable people' image
Source : BBC [Read Article] Sunday 3rd of July 2016 11:05:20 PM
....The firms allow customers to pay for a household item in instalments, with high interest rates, until they own it. Citizens Advice worries that vulnerable people are being "pushed into further financial difficulty". ...
50 years on image
Source : BBC [Read Article] Sunday 26th of June 2016 11:00:42 PM
....". He says the Financial Conduct Authority should reform the market to ensure that credit cards work better for consumers, especially those in financial difficulty. ...
Buy-to-let landlords win multimillion payout from West Bromwich image
Source : Guardian [Read Article] Wednesday 8th of June 2016 12:49:10 PM
....West Bromwich building society has been left with a £27. 5m bill after being defeated in the court of appeal – but it said this “will not put the society in financial difficulty,” adding: “Our financial position remains very strong. ...
Older homeowners locked out of mortgages offered reprieve  image
Source : Daily Express [Read Article] Wednesday 11th of May 2016 08:54:00 AM
....uk, says: “It is all well and good to allow borrowers to pay back into their 80s but do they really want a mortgage so far into later life?”. Borrowers who extend their mortgage because they cannot afford to pay it off could run into financial difficulty later, especially if interest rates rise. ...
Consumer credit rises at fastest pace for 11 years image
Source : Guardian [Read Article] Friday 29th of April 2016 11:50:27 AM
....Prior to October 2015, DROs were open only to those with debts of up to £15,000, and around a quarter of DROs this year have involved qualifying debts greater than that figure. Joanna Elson, the chief executive of the Money Advice Trust, the charity that runs the National Debtline, said: “For once, this slight rise in insolvencies isn’t all bad news, as these figures confirm that recent changes to debt relief orders are working, helping thousands of additional people who previously had no way of resolving their financial difficulty. ...
Tax credit change 'may cause hardship' image
Source : BBC [Read Article] Thursday 7th of April 2016 10:34:42 AM
....It is understood that HMRC want to retrieve previous overpayments quicker, so the books are settled before benefit claimants move over to the new system of Universal Credit. Campaigners are concerned that clawing back the money too quickly could leave some families in financial difficulty. ...
More than a third of 8.4m BHS loan went to four directors image
Source : Guardian [Read Article] Monday 7th of March 2016 06:07:07 PM
....At the same time as trying to restructure its pension scheme, BHS wants to cut the rent on half of its 164 shops through an insolvency procedure. A CVA allows a company in financial difficulty to reach a deal with creditors, including landlords, to reduce its liabilities while still trading. ...
BHS owners took £8.4m loan from chain as staff face job cuts image
Source : Guardian [Read Article] Friday 4th of March 2016 07:08:03 PM
.... If landlords do not agree to BHS’s demands then the stores are likely to close and more jobs will be lost. A CVA allows a company in financial difficulty to reach a deal with creditors, including landlords, about reducing its liabilities while still trading. ...
BHS plans to make 370 redundant in head office and shops image
Source : Guardian [Read Article] Friday 4th of March 2016 10:50:56 AM
....Related: BHS threatens to close half its stores putting hundreds of jobs at risk. A CVA allows a company in financial difficulty to reach a deal with creditors, including landlords, about reducing its liabilities. ...
The only truly free bank account image
Source : BBC [Read Article] Friday 4th of March 2016 12:22:15 AM
BHS threatens to close half its stores putting hundreds of jobs at risk image
Source : Guardian [Read Article] Thursday 3rd of March 2016 04:16:21 PM
.... It emerged the man who led the buyout, Dominic Chappell, is a former bankrupt, while credit insurers have refused to support BHS’s suppliers, meaning the retailer had to pay upfront for stock. A CVA allows a company in financial difficulty to reach a deal with creditors, including landlords, about reducing its liabilities. ...
How the cost of a funeral has soared 90pc image
Source : Telegraph [Read Article] Wednesday 10th of February 2016 04:07:57 PM
....” . The ballooning costs, coupled with pressure on local authority budgets that might have subsided some of these fees, have pushed more people into financial difficulty following a funeral. ...
Welcome to the bank where financial advice is free – it’s a food bank image
Source : Guardian [Read Article] Saturday 30th of January 2016 07:00:18 AM
.... In some places it won’t be financial advice – it will be budgeting skills. ” That might mean showing people how to use switching websites, as some of those in financial difficulty are on particularly poor-value energy and mobile phone tariffs. ...
H&B accused of squeezing suppliers image
Source : BBC [Read Article] Monday 18th of January 2016 05:58:38 PM
...."This move by H&B is draconian and totally unethical. H&B are not in financial difficulty nor do they desperately need suppliers help financially. ...
Nine in ten savers accessing pensions are using new freedoms  image
Source : Telegraph [Read Article] Thursday 7th of January 2016 04:07:27 PM
....  . "We have also raised concerns that retirees who are already in financial difficulty could be left without the information and advice they need to choose the best pension products for them. ...
No more fees on basic bank accounts image
Source : Telegraph [Read Article] Sunday 27th of December 2015 12:01:11 AM
.... The Clydesdale and Yorkshire Bank, which is taking part, is going public in February as its owner the National Australia Bank sells the UK lender. “For the first time, truly fee-free basic bank accounts will be available to anyone who doesn’t already have an account, or isn’t able to use their existing account due to financial difficulty,” said Treasury minister Harriet Baldwin. ...
Banks’ new year bonus for excluded Britons image
Source : Daily Express [Read Article] Sunday 27th of December 2015 12:01:00 AM
....Customers will also be able to access facilities that were previously denied to them, such as over-the-counter services and access to the entire cash machine network. Economic Secretary Harriett Baldwin said: “I’m delighted that for the first time, truly fee-free basic bank accounts will be available to anyone who does not already have an account, or is not able to use their existing account because of financial difficulty. ...
Risk of insolvency hangs over high street retailers after difficult run-up to Christmas image
....Owen Bassett, senior risk underwriter at Atradius, said: “Those who went into the fourth quarter needing – rather than wanting – a strong performance could be looking at a troubled future. “Experience tells us that when retailers need an exceptional seasonal sales period and then hit financial difficulty, we often see failures in the first quarter. ...
Six ways to stop the Christmas spend, spend, spend image
Source : Guardian [Read Article] Wednesday 9th of December 2015 06:48:18 AM
.... Pine is the co-founder of a company called DSD (Do Something Different), which creates programmes that help to encourage “behavioural flexibility”, and make you less likely to spend without thinking. (The courses cost £25, but if you’re in financial difficulty then they will consider waiving the fee. ...
Oil producers prepare for prices to halve to $20 a barrel image
Source : Guardian [Read Article] Tuesday 8th of December 2015 07:40:07 PM
....Russia and Saudi Arabia – the world’s two biggest oil producers – both increased spending when oil prices rose to well above $100 a barrel. The fall from a recent peak of $115 a barrel in August 2014 has left all Opec members in financial difficulty, but Saudi Arabia has refused to relent on a strategy of using a low crude price to knock out US shale producers. ...
Are banks ripping off small businesses? image
Source : Telegraph [Read Article] Friday 27th of November 2015 03:01:51 PM
.... . A series of scandals, such as claims that Royal Bank of Scotland routinely mistreated SMEs which were in financial difficulty, as well as cases of interest rate swap mis-selling “have highlighted circumstances in which SMEs… have experienced poor outcomes,” said the Financial Conduct Authority. ...
OBR hands lucky George Osborne a £27bn get-out-of-jail-free card image
Source : Guardian [Read Article] Wednesday 25th of November 2015 07:44:11 PM
....Sharon Taylor, deputy chair of the Local Government Association, said: “Wealthier areas could benefit more because they collect more of their budgets through council tax and are less reliant on government funding. More deprived areas could then be hit doubly hard because they will be have to cope with deep government funding cuts while being unable to use council tax raising powers without dragging low-income families into financial difficulty. ...
'Too big to fail' banks need to raise €460bn in capital image
Source : Telegraph [Read Article] Monday 9th of November 2015 05:31:17 PM
.... TLAC is made up of debt issued by the banks including contingent convertable bonds, or cocos. These are instruments which act like debt until a bank gets into financial difficulty, at which point the debt converts into equity, wiping out the debt and boosting the bank's capital position. ...
FCA tells banks to help struggling credit card borrowers image
Source : Telegraph [Read Article] Tuesday 3rd of November 2015 03:19:18 PM
.... . The FCA wants credit card companies to do more to help those borrowers, who it says may be in financial difficulty and could be getting a bad deal. ...
Personal insolvencies up for first time in a year image
Source : Guardian [Read Article] Thursday 29th of October 2015 01:58:37 PM
.... We know from our research that 14m people suffered an income shock last year and nearly half of them used credit to cope. Better protections from temporary financial difficulty would help people get back on their feet quickly and prevent them from falling into problem debt. ...
The bank switching plan explained image
Source : BBC [Read Article] Thursday 22nd of October 2015 10:56:55 AM
Volkswagen suffers as buyers abandon its debt image
Source : Telegraph [Read Article] Sunday 27th of September 2015 05:56:49 PM
....3pc mark, indicating that investors believe the company is now a riskier bet. The price of credit default swaps – a type of insurance against VW getting into financial difficulty and failing to repay its debts – has also rocketed. ...
Source : Independent [Read Article] Friday 11th of September 2015 11:00:00 PM
....Of 9,000 respondents, 42 per cent only realised they had a debt problem when creditors began harassing them over the phone. The tipping point figure does not take into account mortgage or property-related finance; credit cards, personal loan repayments and bank or overdraft charges as the key reasons for people getting into financial difficulty. ...
Weekly Money: the stories we noticed 7 to 11 September image
Source : Independent [Read Article] Thursday 10th of September 2015 11:01:00 PM
.... But its research suggests that 1 in 6 people who owe more than this still think it is a low or insignificant debt. The tipping point figure does not take into account mortgage or property-related finance, and instead cites credit cards, personal loan repayments and bank or overdraft charges as the key reasons for getting into financial difficulty. ...
Buying your first home? Make it a milestone, not a millstone image
Source : Telegraph [Read Article] Wednesday 26th of August 2015 10:00:22 AM
.... There are a variety of helpful schemes to make this an option financially. However, it is important that first-time buyers think about the full cost of buying and running a home from the outset so that they can avoid financial difficulty in years to come. ...
Qantas returns to full-year profit image
Source : BBC [Read Article] Thursday 20th of August 2015 12:10:06 AM
....". Qantas had postponed plans to refresh its ageing fleet of 11 Boeing 747s used on long-haul flights with the Boeing Dreamliners when it was in financial difficulty. ...
NASL football looks for expansion image
Source : BBC [Read Article] Thursday 30th of July 2015 11:08:51 PM
....Meanwhile, clubs should "not spend more money than they make". In the past, the NASL has stepped in to help those in financial difficulty, such as the Atlanta Silverbacks, but Mr Peterson says they do not envisage doing so again. ...
Source : Independent [Read Article] Tuesday 28th of July 2015 01:10:38 AM
.... That was blatantly ripping-off struggling people. Joanna Elson, chief executive of the Money Advice Trust, said: “That some Cash Genie customers were charged an extra £50 for the privilege of being transferred to their debt collection business is even more shocking when you consider that of all their customers, these were in the most financial difficulty. ...
Renault-owned RCI Bank launches best-buy two-year savings bond  image
Source : Telegraph [Read Article] Monday 27th of July 2015 02:14:56 PM
.... A consideration for anyone interested in accounts from RCI Bank is that they fall under the French system for deposit protection, rather than UK’s Financial Services Compensation Scheme . The FSCS guarantees up to £85,000 of savers’ money if a savings provider hits financial difficulty. ...
How safe is peer-to-peer lending? image
Source : Telegraph [Read Article] Sunday 26th of July 2015 06:42:20 PM
Payday lenders slammed for 'misleading' claims: charities say they're still not doing enough to help borrowers image
....“The important and necessary steps taken by the Financial Conduct Authority are starting to clean up problems in the payday loan market but we are concerned about the affordability and sustainability of some of this lending,” he said. “We need alternatives to high cost credit that will help people get through financial difficulty. ...
Renault's RCI Bank offers best-buy easy-access savings rate image
Source : Telegraph [Read Article] Monday 20th of July 2015 02:44:34 PM
...." . A consideration for those interested in the account is that RCI Bank is not covered the Financial Services Compensation Scheme, which guarantees up to £85,000 of savers’ money if a savings provider hits financial difficulty. ...
Source : Independent [Read Article] Thursday 18th of June 2015 12:26:37 AM
.... . Still, it does raise a few valid points, such as suggesting that policies be made more flexible to allow those who fall into financial difficulty to keep them up. ...
....The business was revealed to be not so different from the rest, getting caught up in the PPI mis-selling scandal. Or else, as other mutuals got into financial difficulty, its ownership structure was deemed to be too different by some. ...

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