Bank of England has placed the Co-op Bank under “intensive supervision” as survival options appear to be running out.

Should you be worried? As a current account holder, or if you have a mortgage or loan with Co-Op bank, then you don’t need to worry as customers will be protected whatever the outcome. As a saver, you might want to take advice as the government backed ‘Financial Services Compensation Scheme’ only protects you up to 85,000.
With TSB and Secure Trust putting themselves out of the running to take over the whole bank, the options are running out and the loss making, ethical bank, may have to be rescued by the Bank of England or by a break up and partial sale. The professional investors have already seen 75% of their bond values wiped out and many expect the bank to fail. The markets are suggesting only a 25% chance of survival.

Why consolidating your debts can save you money

If, for whatever reason, you have a number of small, alternative and probably therefore high interest loans, consolidating to a single lower cost loan can reduce your regular payments and save real cash by reducing the interest you pay. But what if I have bad credit?  You can still reduce your loan repayments and interest paid by choosing a Guarantor loan.

How to do Debt Consolidation by applying for Guarantor Loans?

This works so that you can borrow at lower rates of interest based on the credit history of your Guarantor not your own. So, a friend or family member with a good to average credit history can, if willing, save you money and reduce your outgoings. Here’s an example to prove the point;-

How to Calculate Your Guarantor Loan?

You have a number of small loans, or rent to own assets that add up to nearly £4,000 of credit. Typically these may be costing something in the region of *£365 in payments each month, and on average, something like *£1,250 in interest each year (APR varying from 69.9% to 1,274%).

An Advantage29 loan for £4,000 over 3 years from Lendfair will cost £162.08 per month, with average annual interest of £611.63 (APR 29.9% Fixed) over it’s life. How much fairer is that!

Time to check out

*Bright house – £1,800 of goods repaying £23 per week for 156 weeks, APR 69.9%  and a £1,800 loan from 118118 repaying £142.65 per month for 24 months APR 99.9% and a loan of £400 from Mr Lender  repaying an average £123.38 per month for 6 months APR approx. 1,274%.   Total interest paid over 3 years £3,752 (annual average £1250.67)

Confusion also Says


‘Confusion Says’ ©


“Life is really simple, but we insist on making it complicated; blame the government!”


“Government has no money; it earns nothing; it spends (often poorly, and with less economic impact than private spending) what it raises in taxes and what it borrows. So the Government spends the citizen’s money not its own. What it should do are the things that society need that private money can’t do; for example, large infrastructure projects, especially as it can borrow at the lowest interest ratesIt should also create and manage social projects, like the NHS and education (provision to all citizens equally based on need). This government, but particularly the last Labour Government have shown huge incompetence in the core tasks”


“The people vote in a Government. Generally it is based on ideologies – left wing – right wing. The people believe that informed government can make good decisions on its behalf. Why has this Government ceded the huge question of staying in the EU to the people who are not best placed to make this decision. The outcome of BREXIT will not be rational or informed, it will be emotional and ‘gut instinct’ based on emotive topics like immigration and Sovereignty? Of course the answer is that it will deal once and for all with the Euro-sceptics in the Conservative party; really? This is a huge gamble (already costing the UK dearly) that simply should never have been taken; The political line that it gives the power to the people is hogwash; many would prefer not to have to cast a vote”


“When will we get a Government with the balls to take a rational decision on the NHS. We love the concept of the NHS; we respect those working in it; but it remains hugely inefficient, underfunded on a per-capita basis and at the same time financially inept. We want it to remain free (almost) at the point of delivery; available to all – fairly. Do we care, given the foregoing, whether it uses own labour or private suppliers (it already does) if we get a good, efficient and cost effective service? No. So let’s de-politicise the NHS sooner rather than later making it free of political interference, coming to Government only for funding that is costed and approved by Law. Labour did this with the bank of England. The demography of the UK, the average lifespan and medical advances have all changed rapidly in the last 25 years; we need a new approach”


“Open a bank account and put 1p in it today;  each day thereafter double the amount you put in the account……….day 2=2p,   day 3=4p, day 4=8p etc. In just 27 days you will have over £1m in your bank account.  Sadly, the maths (though correct) does not reflect our ability to put money in the account in the first place!” – and the amount on day 27 is actually £1.342m; if you wanted to know!”

Cash Genie. Owe them money? Or are you due compensation? Cash Genie have agreed to refund customers £20m

Ariste Holding Limited, trading as Cash Genie, has entered into an agreement with the FCA to provide over £20 million redress to more than 92,000 customers for unfair practices. Ariste have now gone into Liquidation (see below)

The following are extracts from the Financial Conduct Authority Website. To read the full article click the link at the end


What you should do if you still owe Cash Genie money

Customers should continue to make payments unless they are told to stop by Cash Genie. Borrowers who are experiencing financial difficulty should contact Cash Genie to discuss their options.

If you are struggling with your debts, there are free debt advice services which can help you. You can find out more on the Money Advice Service website.


Cash Genie liquidation

Cash Genie has voluntarily entered into a solvent liquidation. The firm handed over to liquidator RSM Restructuring Advisory LLP on 5 January 2016. This will not affect the payment of redress to customers.

Customers can still cash any redress cheques already received. If customers have questions or complaints about the redress scheme, or think they may be due redress, they can still contact Cash Genie using the details below.   or call 0333 366 0023


You do not need to use the services of a claims management company

To see the full article click on the following link;-