Debt

Borrowing is dirt cheap right now, with the cheapest ever loan rates, the longest 0% spending card we've seen since mid 2020, and many more best buys.

People with mental health problems have faced a much bigger hit to their finances during the pandemic than the wider population and are three times more likely to have fallen into serious debt, according to the results of a major national survey published today.

Shoppers using buy now, pay later (BNPL) services may be able to take complaints to the Financial Ombudsman Service in future, as well as claim refunds using Section 75 protection, under new Government proposals. But while these changes are "vitally needed", MoneySavingExpert.com founder Martin Lewis has warned that the Government must "pick up the pace" when it comes to taking action.

The vast majority of MoneySavers are worth more than they owe, a new MoneySavingExpert.com poll has found. But this varies by age, with most younger MoneySavers (25 to 34 year olds) in debt owing between £1,000 & £9,999, while those aged 65 to 79 largely have little to no debts and are instead worth between £500,000 to £999,999.

As many feel moved by Team GB's recent Olympic success, we hope to inspire you to overcome your financial hurdles and achieve a knockout MoneySaving victory by celebrating 15 of our users' best successes of 2021. Some require you to go the extra mile (for a big reward), others are swimmingly easy. On your marks, get set, go...

Former and existing HSBC, First Direct, John Lewis Finance and M&S Bank customers have been receiving payments from HSBC Banking Group – which the lenders come under – out of the blue over the past 10 months, and we still haven't really been told why. We've been pushing HSBC for answers and have put questions to the bank from ourselves and a former whistleblower to find out what's going on.

New rules giving those in England and Wales who are struggling with problem debt a two-month grace period to get their finances back under control come into force today, in a huge victory for MoneySavingExpert.com and others who've campaigned hard on the issue.   

Can't afford to clear your debt? You can't afford not to try to move it to 0%, MoneySavingExpert.com founder Martin Lewis writes. You could save £1,000s on credit cards, mortgages, overdrafts, loans, store cards, buy-no-pay-later (BNPL) and more - here's how. 

The Government has today agreed to change old laws which force lenders to send intimidating letters to people struggling with debt, in a key campaign victory for the Money and Mental Health Policy Institute charity set up by MoneySavingExpert.com founder Martin Lewis.

New rules which will give people struggling with problem debt a 60-day grace period to get their finances back under control are set to help millions, according to new estimates published by the Government.