Loans

An influential group of MPs has launched a wide-ranging inquiry into the student loans system, amid intense political debate about the future of student finance.

The Universities Minister Jo Johnson has finally agreed that student loans should be called 'graduate contributions', after being challenged on the point by MoneySavingExpert.com founder Martin Lewis.

Borrowing by consumers on credit cards, loans and overdrafts is showing signs of slowing down, according to latest figures.

Graduates in the final two years of paying off their student debt can now choose the day their monthly loan repayment direct debit is taken from their account.

A self-employed IT consultant who was left without work has avoided getting into debt after reclaiming £45,000 in PPI with the help of MoneySavingExpert.com's free PPI reclaim tool.

Unarranged overdraft fees could be overhauled as the regulator pledged to continue to tackle high-cost credit, and announced it will keep the price cap on payday loans.

The Bank of England has asked lenders to set aside £11.4 billion to protect against defaults, as consumer borrowing grew by more than 10% in the last year. It's said it'll also tighten affordability criteria for mortgage lending.

The Financial Conduct Authority has branded a claim that it will be raising the price cap on payday loans as "complete fiction".

Complaints about payday lenders more than tripled in the last year, according to the latest Financial Ombudsman Service (FOS) annual report.