Britons are borrowing millions of pounds from their loved ones, it has been revealed.

It is not uncommon for people with credit cards to acquire significant levels of debt. They have such large balances on their cards that it seems a hopeless effort to get out from underneath the debt load. Many cardholders get discouraged because they don't see a way out.

As many households will know many different factors have affected finances over recent months, and this has left many struggling to keep on top of repayments on various bills and debts

Loan lenders are carrying out evermore stringent checks when it comes to looking at prospective borrowers' ability to pay back money, it has been revealed.

While many lenders still steer clear of those potential customers who they find have bad credit history, a growing number beginning to see past this obvious negative. In the past even if a person with a bad credit history wasn't declined by a lender, the loan awarded was typically attached to a much higher interest rate.

Consumers of all ages are facing a rise in financial difficulties, new figures indicate. According to data published by the Alliance Trust, the official rate of inflation increased higher than expected to stand at 2.

The Bank of England's monetary policy committee (MPC) has voted to keep interest rates at 5.75 per cent for the duration of September, it has emerged.

Britons are raiding their savings accounts in an attempt to supplement overspending in other areas of their finances, new figures reveal.

While only a few years ago there were clear differences between credit cards and debit cards, today those distinctions have been blurred with debit cards that can be used in many of the same capacities as credit cards and vice versa.

Some of the more simple matters regarding personal finance prove to be bamboozling to the nation's adults, according to the latest research from Abbey.