Advertising regulator bans ‘misleading’ debt adverts from impersonators

The UK’s advertising watchdog has banned the adverts of two unregulated lead generators after they were found to have mimicked legitimate debt charities and claimed to be endorsed by the Government. The websites ‘writeoffmydebt’ and ‘stepdebtsupport’ were criticised by the Advertising Standards Authority after a series of complaints by the Government-funded Money and Pensions Service, … Read more

Balance transfer credit cards: Some banks boost interest-free deals

Banks have brought back or boosted balance transfer deals over the last month as they loosen the lending taps, but borrowers looking to clear their debts still have less choice than ever before. MBNA, Sainsbury’s Bank and Virgin Money all lengthened the interest-free terms on some of their cards, while the supermarket lender also reopened … Read more

Britain paid off £15.6bn in debt in just 7 months amid the coronavirus pandemic

After years of failed New Year’s resolutions, it appears the global pandemic has helped Britons collectively pay off personal debt like credit cards and loans. Between March and October, the latest figures available from the Bank of England, Britons have paid £15.6billion off their plastic and other loans. When the pandemic swept the country in … Read more