Credit given to consumers without income checks
LONDON (Reuters) - Almost five million people have been granted credit cards in the past year without having to prove their income, according to research.
Some 84 percent of successful credit card applicants — 4.8 million people — were not asked to provide any proof of income, such as payslips, to support the figures stated in their applications in the past 12 months, according to a YouGov poll of 4,048 people.
Repossessions inundated free lawyers
More people are facing repossession of their homes
Homeowners threatened with repossession are being denied free legal advice because lawyers who provide it are being swamped, says a charity.
Transact, which promotes effective money management, blames the credit crunch for the soaring number of cases.
Research suggests that repossession is more likely if homeowners fail to get proper legal advice.
The charity is calling for more expert help for people in court facing the loss of their homes.