Debt And Credit Help

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According to research, `the bank of Mum and Dad` is now calling in its debts – as parents ask for larger amounts of money back from their children, The Telegraph reports.

The findings revealed that one in 10 grown-up children either gave or lent, on average, 8,250 to their parents last year. This figure is 1,750 higher than it was in 2008.

More than one third of parents admitted to using the money they received from their children to repay their own debts, while a similar amount used the money to cover their everyday expenses.

A spokesperson for Debt Advisers Direct commented: “We would advise anyone struggling to afford their day-to-day living costs and/or their debt repayments after the recession to seek professional debt advice. Full Post…

Skokie, Illinois fire rescuers recently drilled a hole in the ceiling to rescue an 82 year-old woman from her apartment. They couldn’t use the door because the space was piled to the ceiling with hoarded stuff. Earlier this year, an El Paso, Texas woman died by fire when the newspapers she had hoarded fed the flames. Firefighters couldn’t get through the clutter to save her. These may sound like extreme cases, but hoarding is becoming an ever-increasing problem. Thos Full Post…

Consumers took on 2bn more mortgage debt than they repaid in July, according to the latest figures from the British Bankers` Association (BBA).

This represented a 4.1% annual increase in net mortgage lending by banks, the report adds.

Gross mortgage lending came to 8.4bn in July, but this was down on the 8.6bn seen both a month earlier and on average over the six months before that.

Mortgage lending for house purchase came to 5bn, while remortgages came to 3bn and `equity withdrawal and other purposes` accounted for 0.5bn.

Meanwhile, the BBA`s figures also showed a slight increase in net consumer credit lending in July. Full Post…

(Snowshoefilms 3-parts) THE CRIME OF THE CANADIAN BANKING SYSTEM For nearly 40 years, Canada – the people of Canada – had control of their own currency! Imagine! They founded their own bank and issued their own currency with no debt obligations to banks. Taxes were low and debt was too. The

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