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The latest news from the world of personal finance

The latest news from the world of personal finance plus advice for those trying to make the most of their money.

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Money Box: Money Box Live: Loans, Credit Cards and Credit Reports

Money Box Live: Loans, Credit Cards and Credit Reports

09/12/2015

BBC Radio 4 - Money Box, Money Box Live: Loans, Credit Cards and Credit Reports

Paul Lewis takes listeners' queries and views on all aspects of personal credit.

Paul Lewis takes listeners' queries and views on all aspects of personal credit, loans, cards, credit reports.

Your calls, queries and views on all aspects of personal credit, loans, cards, credit reports and debt. 
Historically low interest rates on personal loans, looser credit scoring criteria and increasing consumer confidence are driving up household borrowing levels say the Bank of England.

Personal borrowing increased by £1.2 billion in October with consumer credit growth rising by 8.2% over the last year.

Consumers are also being tempted by ever longer introductory offers, some lenders offering 0% balance transfers for up to 37 or 40 months.

Debt advice charity National Debtline say that while many will be able to service this extra borrowing, they are concerned that a minority are turning to credit to make ends meet and that higher interest rates or a change in personal circumstances could lead to debt problems.

The Financial Conduct Authority warned earlier this month that around 1.6 million people only manage to make the minimum monthly payments on their credit cards and that as such customers are seen as profitable, firms have fewer incentives to help them.

So on Wednesday we took your calls, queries and views on all aspects of personal credit. Paul Lewis was joined by: 
Kevin Mountford from MoneySuperMarket 
James Jones from Experian 
Dennis Hussey from National Debtline.

Intelligent speech, the most insightful journalism, the wittiest comedy, the most fascinating features and the most compelling drama and readings anywhere in UK radio.

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