GRIPES OF WRATH
New boarding bowl FINANCE firms triggered a record 4.1million complaints from customers in the first half of this year.
The flood of gripes – equivalent to nearly 23,000 a day – was up 10 per cent on the previous six months.
Complaints continue to be dominated by the payment protection insurance misselling scandal, the report from City watchdog the Financial Conduct Authority found.
It accounted for more than four in 10 moans between January and June, hitting a four-year high of 1.7million as the FCA launched a campaign to encourage people to lodge complaints before a deadline of August 2019.
The next most complained about products are current accounts, 15 per cent of the total, and coincided with TSB’s IT problems. WE’RE taking on everyday debt at the slowest rate for more than three years, Bank of England figures reveal. The year-onyear growth in unsecured lending eased from 8.2 per cent in August to 7.7 per cent in September. The drop was fuelled by a sharp fall in motor finance, caused by a slump in new car sales. A debtfuelled spending splurge has helped boost the UK-economy since the 2016 Brexitreferendum. Households still took on an extra £800million of consumer credit last month but that compared with £1.2billion in September. It has left us owing £215billion from credit cards and overdrafts to car finance. With mortgage debt, the figure is a whopping £1.6trillion. £1.6trillion owed
_______________________________ 1.096 1.754 2.046 1.628 7.873 27.217 19.950 1.891 4.493