Author: Practicenet

FINANCIAL firms have been warned by the ombudsman for sector to treat customers fairly. Financial services ombudsman Ger Deering’s warning came after making findings against a large number of them. He said financial firms are often not willing to listen to customers or engage properly. His decisions are legally binding. The ombudsman has the power […]

Pavel acquired a credit card in 1998 and made the necessary repayments on the card every month until October 2012, when he accidentally underpaid the amount by €19. He called the lender in November to say that he would make the payment of €19 as well as the late fee charge of €15. But following […]

A new option has been offered for those in deep arrears. Anyone considering the scheme would be wise to get independent financial advice. Here is how it works: Q: What is this latest scheme to help those in mortgage distress? A: The Arizun ‘Stay In Your Home’ solution is a private rental scheme targeted at […]

Brexit presents an opportunity for Ireland to win foreign direct investment (FDI) that would otherwise have gone to the UK, according to IDA boss Martin Shanahan. However, UBS chairman Axel Weber, formerly the head of Germany’s Central Bank, warned the World Economic Forum that a no-deal Brexit would have “real spillovers” for the global economy. […]

There has been a fall in the number of people applying for court-approved debt deals. Around 1,000 people got an approved insolvency deal to keep them in their homes last year, a rise on the previous year, according to the Insolvency Service of Ireland. There has been a fall in the numbers being declared bankrupt. […]

Sterling jumped to a 2-month high against the euro after strong employment data suggested Britain’s labour market remained robust despite an economic slowdown ahead of Brexit. The pound slumped 7% in 2018 on Brexit concerns but it has started the year on the front foot with some investors viewing medium-term sterling valuations as decently priced. […]

More than a third of products on special offer in Irish supermarkets are high in fat, sugar or salt, according to new research. Some 35pc of food and drink being sold at bargain prices was found to fall into this category. Worryingly, the balance is even further skewed in convenience stores where it is as […]

Huge numbers of people say they plan to borrow from their credit union this year, is what is set to be a major boost for the lenders. They mostly want the money to buy cars, with mortgages, holidays and third-level education also featuring as reasons for borrowing. Consumers plan to borrow an average of €8,558, […]

Tourism Ireland is set to unveil a new strategy to lure holidaymakers from the UK as it risks crashing out of the European Union with no deal and putting its economy in peril. Tourism Ireland chief executive Niall Gibbons refused to be drawn on the details of the new battle plan, but said it would […]

SWITCHING energy supplier is extremely quick and easy and it can all be done online in the space of a few minutes. There’s no need for any messy paperwork or to give 30 days’ notice to your current provider before cancelling. In fact you don’t even have to contact your current supplier to let them […]