Bad Credit Georgia Mortgage

Brits face penalty fee pitfalls

British consumers are confronted by over 100 different kinds of penalty charges for a variety of reasons as they look to avoid incurring further debt problems. According to research from moneysupermarket.com, there are several different ways lenders can hit customers with fees – some so obscure that even the most well-informed borrowers can get caught out. The average consumer with a current account, savings account, mortgage, credit card and a loan can incur up to £295 in fees – a figure Stuart Glendinning, moneysupermarket.com's managing director, calls "unbelievable". "There is a huge number of default and penalty charges of which even the most astute consumer can fall foul," he said. "It is important to raise the flag of awareness on these penalties and blow the whistle on providers who do not make their penalty fees transparent to consumers from the outset." Regular loans can have as many as 11 different penalty fees attached, from paying the balance off early, to paying what you owe too late.

Northwest Airlines 2Q loss widens

EAGAN, Minn. (AP) - Northwest Airlines Corp., which has been operating under bankruptcy protection, posted a wider second-quarter loss Monday as its restructuring costs mount. But its executives pointed to promising developments in their plans to cut labor and pension costs.

After paying dividends on preferred stock, losses totaled $285 million US, or $3.27 per share, for the three months ended June 30. That compared with losses of $234 million, or $2.69 per share, in the prior-year quarter.

Excluding the cost of restructuring and other one-time items, Northwest, the fifth-largest U.S. airline, said it earned $179 million versus a loss of $288 million last year.

Revenue edged higher to $3.29 billion from $3.2 billion in the prior-year period.

Buying with friends could mean more bad credit mortgages

The growing trend for buying houses jointly with friends or family may result in credit problems for the parties involved, according to credit rating agency Equifax.

Housing prices in the UK have continued to grow at a rate that far outstrips rises in earnings, meaning that more and more people are buying houses jointly, whether with friends, family or partners.

This obviously brings the advantages of getting on to the ladder earlier in a market where housing is starting to become unaffordable for greater numbers of people.

However, this trend could in practice lead to financial ruin later down the line.

Data held by Equifax shows that 23 per cent of people under the age of 25 in the UK already carry substantial long-term debts, in many cases totalling as much as £10,000.

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