The recession has bitten hard into the confidence and budgets of consumers and has reflected itself in recent research that has indicated that 1 in 5 Britons plan to spend less this year at Christmas. The survey, published by Gfk NOP, covered 1,000 adults and also indicated that just 1 in 10 plan to spend more on gifts this year compared to last. The study implies that we will all be spending around 15% less this Christmas compared to last – a sure sign that we are all far more cost conscious and concerned that times are still tough.  Read more... (475 words, 1 image, estimated 1:54 mins reading time)

Experts have warned that money management firms are misleading consumers by claiming that credit card debt can be written off my exploiting loopholes in the law.

Many companies are now claiming that clauses in the paperwork for credit cards are in breach of the Consumer Credit Act and this means that the contracts are unenforceable and the debt can therefore be wiped out.

Consumers have been warned that although this has been true with some credit card debt cases, this does not apply to the majority of people. Clients often have to pay a large fee up-front to these debt management companies, only to find out that they are unable to wipe their credit card debt out and are therefore left even further in debt and out of pocket.  Read more... (222 words, estimated 53 secs reading time)