Bank write-offs double for bad credit card debt

The Bank of England has reported a significant rise in the amount of money that banks have written off as bad debts on their credit cards.

The Bank figures show that the total value of the write-offs doubled to £1.6bn in the third quarter of 2009.

In the first and second quarter, the figure had been around £800m. The total amount of Rate this Article:

• Article Tags: credit card, credit cards, mortgages, personal loans
  • Related Articles
  • Related Q&A
  1. A How-to Approach to Getting Bad Credit Unsecured Credit Cards
  2. Credit Cards For People With Bad Credit, Poor Credit Or Poor Credit Score
  3. Bad Credit Unsecured Credit Cards - Are They Worth It?
  4. Increase Your Credit Through Credit Cards
  5. The Elvis Prepaid MasterCard Card - A Card From The King!
  6. Start Your Journey To Good Credit With A Master Card Credit Application
  7. Taking Credit On Credit Cards
  8. Profit With Affiliate Card Credit Marketing Programs
  Add new Comment Your Name * Your Email: *

  ---

  Comment Body *
  

  ---

  Enter Validation Code: *
  
  
  • Latest Banking Articles
  • More from Sam Gooch

  International Private Banking: Getting Help

  By: Floyd P. Dietz | 22/01/2010
  Are you interested in international private banking but not sure how to get started? International private banking is certainly more complicated and a newer idea altogether compared to regular banking services, and so you should certainly not feel like you are the only one with questions about it.
  
  

  Small vs. Large Unsecured Personal Loan

  By: Joseph Chapman | 20/01/2010
  Sadly, there are specific times in our lives when major costs come up out of the blue. When you want money earlier rather than later to pay off your dues, settle hospital bills, or pay off student loans for instance, you may want to look into taking out an unsecured personal loan. Unsecured personal loans have a fixed rate of interest, so your monthly payments stay the same. Also, borrowers aren't needed to put up any collateral to borrow money. Unsecured personal loans can be cons...
  
  

  The new-age banking in India

  By: Sanjit | 20/01/2010
  With stiff competition within the Indian banking sector, more and more banks are now introducing new and innovative products and services to distinguish themselves from the rest.
  
  

  The new-age banking in India

  By: Sanjit | 20/01/2010
  With stiff competition within the Indian banking sector, more and more banks are now introducing new and innovative products and services to distinguish themselves from the rest.
  
  

  The new-age banking in India

  By: Ankit | 20/01/2010
  With stiff competition within the Indian banking sector, more and more banks are now introducing new and innovative products and services to distinguish themselves from the rest.
  
  

  Bash the Bankers !

  By: Rahul Rane | 15/01/2010
  Until about 1.5 years back, Investment banker was one of the hottest and wealthiest job anyone could ever have. It was the 'Angelina Jolie' of all campus placements. But today, if there is one profession you want to bash and kick at and get an applaud ' just lash out at any top executive employed with one of the global financial institutes or banks.
  
  

  Santander begins re-branding former Abbey and Bradford & Bingley branches

  By: Sam Gooch | 13/01/2010
  The Spanish banking giant Santander has begun its re-branding scheme that will see all 1,045 branches of the former Abbey and Bradford & Bingley banks bear the parent name Santander.
  
  

  Saving 'seen as less important'

  By: Sam Gooch | 13/01/2010
  British optimism towards saving has fallen, Nationwide reveals.
  
  

  Australians 'should consider credit report when applying to borrow'

  By: Sam Gooch | 13/01/2010 | Credit
  Consumers are being advised to endeavour to find out about the information held on their credit report can affect their ability to access loans and other borrowing products.
  
  

  Santander begins re-branding former Abbey and Bradford & Bingley branches

  By: Sam Gooch | 13/01/2010 | Banking
  The Spanish banking giant Santander has begun its re-branding scheme that will see all 1,045 branches of the former Abbey and Bradford & Bingley banks bear the parent name Santander.
  
  

  Home-owners turn to credit cards to make mortgage repayments

  By: Sam Gooch | 13/01/2010 | Mortgage
  A charity has revealed that over the past year up to one million households borrowed money using a credit card to pay mortgage repayments or rent.
  
  

  Saving 'seen as less important'

  By: Sam Gooch | 13/01/2010 | Banking
  British optimism towards saving has fallen, Nationwide reveals.
  
  

  Saving confidence 'on the up'

  By: Sam Gooch | 13/01/2010 | Banking
  A significant number of people are looking to save more money over the course of 2010, it has been revealed.
  
  

  Queensland borrowers 'better off due to rate cap'

  By: Sam Gooch | 04/01/2010 | Personal Finance
  Moves to cap interest rates on credit cards and other forms of borrowing have proven to be of benefit to Queensland residents, it has been reported.
  
  

  Borrowing tips to meet the cost of Christmas

  By: Sam Gooch | 04/01/2010 | Personal Finance
  A 0% purchases credit card could offer ideal assistance to those looking to borrow in the build-up to Christmas.
  
  

  Australians 'owe more than Americans'

  By: Sam Gooch | 04/01/2010 | Personal Finance
  The Australian national debt has surpassed that of the US, it has emerged.
  
  

  About the Author:
  

  UK Price Comparison website http://www.which4u.co.uk Compares Credit Cards, Savings Accounts, Fixed Rate Bonds, Bank Accounts, ISAs, Loans, Mortgages, Insurance, TV & Broadband and Gas/Electric bills to find the best UK deals

  Author: Sam Gooch