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pyewackitt

'barclaycard Hit By Bad Debts Jump'

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http://business.timesonline.co.uk/article/...2196481,00.html

"The £1 trillion British consumer debt bubble returned to haunt Barclays today as the international banking group warned investors of rising problem debts at its credit card arm, Barclaycard, and increased loan repayment difficulties among individual customers.

In an otherwise extremely bullish trading update to the City, Barclays said that "very strong income growth" at Barclaycard in the first quarter was being offset by higher impairment charges, increased bad consumer debts and a greater investment in the business.

The bank said that - as a result of its booming operations elsewhere - income growth would be "significantly ahead of the current market consensus". But it cautioned that so too would impairment charges and expenses.

Last year, impairment charges at Barclaycard jumped 44 per cent to £1.1 billion. The bank has since tightened its lending criteria to counter accusations it has been too lax.

Shares in Barclays lost 5p to 589.5p, a fall of 0.84 per cent. "

Another one predicted on HPC some time ago... wonder how many more lenders will realise that lending to risky punters just isn't all that profitable in this day and age.

- Pye

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Another one predicted on HPC some time ago... wonder how many more lenders will realise that lending to risky punters just isn't all that profitable in this day and age.

Probably not until after the people who lent to them have taken their big bonuses and 'golden parachutes' and pissed off abroad.

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I seriously feel that we are beginning to see a strong trend in problem debts, mainly with consumers.

Bankruptcies are up, repos are up, 1 million are expected to go bankrupt and high income earners are smothering in debt 17 times their monthly income.

This can't be good and it will only get worse.

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I seriously feel that we are beginning to see a strong trend in problem debts, mainly with consumers.

Bankruptcies are up, repos are up, 1 million are expected to go bankrupt and high income earners are smothering in debt 17 times their monthly income.

This can't be good and it will only get worse.

Debts.co.uk (DETS) share price up 10% already today! :ph34r:

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  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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