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Debt

Brighthouse Collapse – What Does This Mean For Consumers?

This afternoon (30th March 2020), the announcement was made that Brighthouse (the biggest rent-to-own operator in the UK) had collapsed, raising questions for many consumers with regards to their rights under prior hire purchase agreements. ‘Hire-purchase’, ‘conditional sale agreement’ or ‘rent-to-own’ are all generally used to refer to an agreement between a lender (in this case Brighthouse) and a …

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Gizmos and Gadgets – Avoiding Impulse Purchases and Understanding Consumer Psychology

For most of us, the purchase of a new gadget is exciting.  Opening the box and holding something which feels and looks shiny and new can be a great feeling. This interaction between the shiny new item, the act of opening the packaging and the anticipation of the experience is an important driver in encouraging …

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Overboard on Overdrafts: Changes for Consumers Coming Soon

With the FCA announcing changes to regulations around overdraft fees and charges, consumers should (in practice) be able to more easily compare the true costs of an overdraft. However, questions still remain regarding whether these changes will benefit consumers or cost them more in the long run. In April 2020 FCA regulations will tighten, meaning …

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Have you received a PPI Refund? Your Financial Institution or PPI Claims Company may still owe you a tax rebate

Have you received a refund for a PPI settlement in the last 4 years? Many consumers who received a refund had tax automatically deducted from their total, and as such, will be entitled to a full or partial refund. Automatic deductions for tax could have been made from statutory interest that has been paid out …

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Demystifying Financial Products: A Short Guide to Pensions and ISAs

As the old adage goes – ‘save the pennies and the pounds take care of themselves’.  This maxim supports the notion that maintaining a savings account and investing leftover cash can push individuals into a much better financial standing over an extended period of time. Undoubtedly, this remains solid advice and any type of saving …

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The Dread of Debt: Regaining Control of Your Finances

The UK consumer credit lending market demonstrated an increase in the amount of outstanding debt of approximately £9.9 billion over a two-year period between the end of 2017 and December 2019. To put this into context, this is just shy of two billion £5 notes. When you look at the repercussions of personal debt, 350 …

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“New Year New Me” – Getting Over the Festive Pinch: How to Gain a Steadier Footing Moving into the New Year

We all do it. Well, I know I do. We make that list in the week between Christmas and New Year of all the things that we promise ourselves that we will do over the course of the next 12 months that will fix our lives, make us more financially stable and let us save …

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Payday Loans: Unaffordable, Unsustainable, Under Scrutiny

It’s the beginning of November. Suddenly, shop windows are filled with tinsel, the high street resembles a chaotic free-for-all and the same festive songs begin to be played ad nauseum. Like it or not, Christmas is just around the corner, and with that, many of us are tempted (or forced) to overspend and overstretch our …

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