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The average UK household owes £7, 984 of debt (excluding mortgages), according to Credit Action's latest 'Debt Facts and Figures' report.The calculations, based mainly on the Bank of England's debt figures, further reveal that average household debt rises to £15, 353 if only households which actually have some form of unsecured loan are taken into account.Full article: Average household debt stand...

Savers and bank account holders have been advised to protect their money by making sure their account balances don't exceed the limit for the government's compensation scheme, the Guardian reports. Account balances up to £85, 000 (or £170, 000 for joint accounts) are currently protected by the financial services compensation scheme (FSCS) in the event that their account provider collapses or loses...

A debt management plan is an informal agreement between you and your lenders to repay your debt at a rate you can afford. Read more here.Full article: What is a debt management plan?Visit: www.thinkmoney.com