Belmont Thornton Logo
PPI Claims - About PPI

PPI Claim News

 
Loan charges: Consumers 'cautious' about taking out credit

Consumers are still being cautious about taking out credit, possibly because they fear having to pay hefty loan charges.

According to figures released by the Finance & Leasing Association, there was a seven per cent fall in the number of people being granted new credit between March 2010 and the same month this year.

The seven per cent drop was because of a decrease in new business.

Fiona Hoyle, head of consumer finance at the FLA, said: "Consumer confidence in the economy remains low. As a result, consumers are wary about spending and taking on additional financial commitments.

"Real disposable income has been hit by low wage growth; and with the rise in the cost of living, households have had to prioritise their spending even more."

She added that the FLA lent £4.8 billion to consumers in March, with many using the money for household essentials, such as furniture, clothes and electrical items.

Credit Action recently suggested that people should budget carefully in order to avoid facing bank charges.

Amir Hussain

Amir specialises in personal loans, consumer debt and debt management.
 ADNFCR-2776-ID-800553287-ADNFCR



Bookmark and Share
Tell a Friend
blog comments powered by Disqus

Enquiry Form

First Name 
Last Name 
Mobile Phone
Home Phone
Address Line 1 
Town
County
Post Code 
Email 
Circumstances
Claim Back Mis-Sold PPI Button

Belmont Thornton Limited is regulated by the Claims Management Regulator in respect of regulated claims management activities; our registration is recorded on the website www.gov.uk/moj/cmr number 18273

Belmont Thornton Limited is incorporated in England and Wales, Company number 6621233, whose head office at Unit B11, Kestrel Court, Harbour Road, Portishead, Bristol, BS20 7AN and registered office at Harwood House, 43 Harwood Road, London, SW6 4QP.

Belmont Thornton Limited is registered with the Information Commissioners Office. Registration number Z1728023.

Please note that calls may be monitored for the purposes of staff training.

* Belmont Thornton operates on a "No Win No Fee" basis. This means that there are no upfront costs to pay. Our fee only becomes payable on a successful outcome of a claim. A cancellation fee is payable if you decide that having instructed Belmont Thornton to act on your behalf, and after 14 days of signing your Letter of Authority, you do not wish to continue pursuing your claim with us. The cancellation fee is the reasonable costs incurred for the work undertaken. Please see our terms of engagement.

By using our web-site, you agree that we can place the types of cookies described in our privacy policy on your device.Hide