{"id":50786,"date":"2017-04-03T23:00:58","date_gmt":"2017-04-03T16:00:58","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/credit-card-firms-must-be-forced-to-help-those-in-persistent-debt-nils-pratley\/"},"modified":"2017-04-03T23:06:14","modified_gmt":"2017-04-03T16:06:14","slug":"credit-card-firms-must-be-forced-to-help-those-in-persistent-debt-nils-pratley","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/credit-card-firms-must-be-forced-to-help-those-in-persistent-debt-nils-pratley\/","title":{"rendered":"Credit card firms must be forced to help those in persistent debt | Nils Pratley"},"content":{"rendered":"


\nForget claims of nanny-state intervention \u2013 the FCA is right to intervene to help the millions languishing under long-term debtConcerns that the credit card industry creates, and then milks, over-indebted consumers are not new. It was as long ago as 2003 that Matt Barrett, then chief executive of Barclaycard owner Barclays, generated a few headlines when he told MPs that he had advised his children never to borrow on a credit card \u201cbecause it\u2019s too expensive\u201dHis analysis was spot on, of course, which is why it so alarming that the FCA says 3.3 million people in the UK are in persistent credit card debt, defined as those who are repaying less in principal than they are paying in interest and charges over a period of 18 months. The financial pain can be delayed by teaser rates and zero-interest periods but, when it comes, it can be severe. Continue reading…
\n
\nSource : theguardian.com
\nRead more…Credit card firms must be forced to help those in persistent debt | Nils Pratley<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Forget claims of nanny-state intervention \u2013 the FCA is right to intervene to help the...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-50786","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-dd8","jetpack-related-posts":[{"id":50758,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/struggling-credit-card-holders-could-see-fees-and-charges-waived\/","url_meta":{"origin":50786,"position":0},"title":"Struggling credit card holders could see fees and charges waived","date":"April 3, 2017","format":false,"excerpt":"\r FCA makes proposals for those with persistent credit card debt, where all their money goes on repaymentsMillions of people languishing under long-term credit card debt could see their charges eased or withdrawn under proposals outlined by the financial watchdog. The Financial Conduct Authority (FCA) has announced a raft of\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":81404,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/struggling-credit-card-holders-could-save-1-3bn-under-new-rules\/","url_meta":{"origin":50786,"position":1},"title":"Struggling credit card holders could save \u00a31.3bn under new rules","date":"February 27, 2018","format":false,"excerpt":"\r More than 3 million people could see debts moved to cheaper loans or written off, says FCAStruggling credit card holders could save up to \u00a31.3bn a year under new rules that could see some switched over to cheaper personal loans and others having their interest and charges written off.The\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":89594,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/fca-urged-to-extend-cap-on-payday-loan-fees-to-other-forms-of-credit\/","url_meta":{"origin":50786,"position":2},"title":"FCA urged to extend cap on payday loan fees to other forms of credit","date":"May 27, 2018","format":false,"excerpt":"\r Debt charities and MPs want action when City watchdog\u2019s 18-month review is publishedThe City watchdog is facing mounting pressure to extend its cap on payday lending fees and interest to a broader range of high-cost financial products before a major review of lending practices this week. Debt charities and\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":41286,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/whistleblower-wins-13-year-campaign-against-hsbc\/","url_meta":{"origin":50786,"position":3},"title":"Whistleblower wins 13-year campaign against HSBC","date":"January 20, 2017","format":false,"excerpt":"\r Thousands of customers will be compensated for excessive credit card charges thanks to dogged efforts of 59-year-old Nicholas WilsonA lone whistleblower has won a 13-year \u201cDavid and Goliath battle\u201d against HSBC and Britain\u2019s chief financial watchdog, resulting in a multimillion-pound compensation payout to thousands of people.The Financial Conduct Authority\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":69362,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/half-of-uk-adults-are-financially-vulnerable-city-watchdog-finds\/","url_meta":{"origin":50786,"position":4},"title":"Half of UK adults are financially vulnerable, City watchdog finds","date":"October 18, 2017","format":false,"excerpt":"\r FCA figures will increase concern among policymakers over how British households will cope with an interest rate riseHalf of the UK population are financially vulnerable, and one in six could not cope with a \u00a350 increase in monthly bills, according to a survey of Britain\u2019s personal finances by the\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":71202,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/rent-should-count-towards-credit-ratings-letters\/","url_meta":{"origin":50786,"position":5},"title":"Rent should count towards credit ratings | Letters","date":"November 8, 2017","format":false,"excerpt":"\r How many people realise that their rental payment history could help them access more affordable credit, asks the Big Issue founder John BirdBrightHouse say they offer choice to those excluded from mainstream credit (At last, it\u2019s payback time for BrightHouse, 28 October). \u201cAs long as it\u2019s affordable and people\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/50786"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=50786"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/50786\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=50786"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=50786"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=50786"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}