debt

The Financial Services Authority is preparing to crack down on large banks and insurers which are failing to keep their records up to date and potentially pose a risk to the financial system, says the Guardian .

Those under the age of 35 face a bleak financial future in which half their earnings are taken by the taxman, a new report claims.

The government is to take steps to help cut the nation's £1.2trn debt mountain, reports The Daily Telegraph.

It's not just young people who are carrying the debt burden as evidence shows pensioners still have debts into their 70s.

UK MORTGAGE BANK Bradford & Bingley may have to set aside more money to cover liabilities related to the past mis-selling of endowment policies, the firm admitted to the City yesterday.

The Citizens Advice Bureau (CAB) wants the government to press ahead with a new low cost insolvency solution, following research which shows many people are facing a lifetime of debt.

Just 22% of those under the age of 30 have a mortgage, the latest research from Alliance & Leicester (A&L) reveals.

Low and volatile gilt yields in the final quarter of fiscal 2005-6 have forced the government to announce new rules giving additional flexibility to the Debt Management Office in determining when it will issue debt.

Increasing bad debt provisions are forcing lenders to reassess lending rules and look to ensure acquisition strategies do not lead to bigger books of bad debt, says consultant Datamonitor.

Fears of a possible end to the current strong growth in equity returns are being driven by "false signals" as a continued bullish nature towards global market should be expected in 2006, suggest Standard Life Investments strategists.