Those consumers currently experiencing loan charges may have borrowed money in order to buy essential items such as food.According to Jason Riddle, co-founder of Save Our Savers, people's reasons for borrowing money have changed since the recession hit in 2008.He said: "I think we are also seeing a shift in the reason for borrowing. Before the credit crunch, people were borrowing to improve their lifestyle and now they are borrowing to put food on the table and pay the bills."Mr Riddle also spoke about how people heading towards retirement have changed their money spending habits."Those approaching retirement are facing a bleak future," he said.According to Mr Riddle, many people's retirement income has been devastated thanks to the stock market crash, low interest rates and inflation.The AXA Big Money Index recently revealed that people under the age of 50 are cutting back on their savings and borrowing more to fund their lifestyle.Samantha ClarkeSamantha is a former banking assistant and has over ten years experience in retail banking.
Belmont Thornton Ltd. is regulated by the Ministry of Justice in respect of regulated claims management activities; our registration is recorded on the website www.claimsregulation.gov.uk number 18273
Belmont Thornton Ltd. is incorporated in England and Wales, Company number 6621233, whose head office and registered office is at Suite 2, Unit 25, The Coda Centre, Munster Road, London, SW6 6AW. VAT Registration number 945 3375 06.
Belmont Thornton Ltd is registered with the Information Commissioners Office to ensure compliance with the Data Protection Act 1998 registration number Z1728023 and holds a Credit Consumer License issued by the Office of Fair Trading license number 634655.
Please note that calls may be recorded and email traffic monitored for the purposes of security and staff training.
* Belmont Thornton operates on a "No Win No Fee" basis. This means that there are no upfront costs to pay. Our fee only becomes payable on a successful outcome of a claim. A cancellation fee is payable if you decide that having instructed Belmont Thornton to act on your behalf, and after 14 days of signing your Letter of Authority, you do not wish to continue pursuing your claim with us. The cancellation fee is the reasonable costs incurred for the work undertaken. Please see our terms of engagement.