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Household debt has shot up at the fastest pace since the recession as cash-strapped Britons borrow to fund their spending in the run-up to Christmas, a survey indicates today.

At the same time, job security has slumped and incomes have dropped at their fastest pace in more than two years. That left five times as many households reporting finances had worsened this month than those who said they had improved, according to the Markit household finance index.

That balance was the worst for four months and is set to deteriorate further with half of households expecting their finances to worsen.

Tim Moore, senior economist at Markit, said: “December’s survey rounds off a year in which the aftershocks of the recession have hit UK household finances with unprecedented force.

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Tags: Job, Job Fears

Are you thinking about paying for credit repair? Considering hiring a credit lawyer, clinic or company? Have you finally grown tired of paying MORE for less, and being treated like a second class citizen to boot?

The truth is, I don’t blame you. And the good news, LEGAL credit restoration DOES work, it does work relatively fast, and it can radically change your life, and your financial future in a hurry.

But, there are a few simple but very important considerations every consumer who has a low credit score SHOULD be aware of, straight away.

1 – You CAN fix your credit by yourself if you choose. You

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Tags: Credit, Credit Understand

In 2010, the Federal Trade Commission (FTC) — the agency charged with enforcing the Fair Debt Collection Practices Act (FDCPA), federal legislation that prohibits debt collection agencies from using deceptive, abusive or unfair practices — received over 140,000 complaints related to debt collectors. Despite this rather vast number of complaints, however, it appears that debt collection agencies are continuing to prey upon consumers in need of debt relief.

In fact, it appears that more and more of these agencies are turning to an alternative method of debt collection that is perhaps far more insidious than harassing phone calls or persistent correspondence.

Specifically, certain debt collection agencies are purchasing debts from companies and filing a lawsuit against the debtor to collect the money owed.

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Tags: Debt, Debt Collectors