Alarming Poor Credit Christmas News as Warning is issued for Xmas Period Recession

Nov. 9, 2010 - PRLog -- Chilling research shows that Britain could be heading back into recession by Christmas if current economic trends do not recover, meaning further poor credit times for UK households.

The recent report by accountants BDO highlights current boardroom confidence in the economy, indicating that levels have dipped to a low not seen since 2008 when the crisis struck, with companies becoming increasingly reluctant to employ more staff.

“Just when the economy seems to have pulled itself away from crashing again, a new set of poor credit fears are brought to the publics attention” said a spokesperson for Poor Credit Loans 4 You, a UK specialist at sourcing poor credit Xmas loans http://www.poor-credit-loans-4-you.co.uk/poor-credit-xmas-loans.html

BDO’s report focuses on signs that the economy could go into reverse in the final three months of the year, with concerns growing over George Osborne’s budget cuts.

BDO’s optimism index reflects how UK businesses expect trading to develop over the next 6 months, with figures being down to 93.1 for August, from 95.5 in July.

A figure of 100 indicates an average trend of growth, whilst 95 is considered the minimal level required to indicate any positive growth.

BDO also produce an output index which tracks businesses' turnover expectations.

Signs of a reduction in turnover for the Christmas period also dropped from 99.8 in July to 97.8 in August, indicating ‘sluggish’ economic growth during the third quarter of 2010.

“Not all businesses find the Christmas period to be a profitable one, but those who do, seem to expect smaller turnover than normal”, said the Poor Credit Loans 4 You spokesperson.

“The last time the optimism index fell below 95 was before July 2009, at a time when the UK was enduring the deepest part of the previous recession and the worst poor credit circumstances in over a decade.”

Peter Hemington, one of the partners at BDO, said: “If quarter four 2010 does indeed turn out to be the start of a double dip, it certainly won't be a merry Christmas for UK businesses.”

Most companies are highlighting the governments spending cuts as the reason for their negative outlook on the economy, but some retailers are blaming the recent measures taken by the Office of Fair Trading (OFT) to clamp down on certain product promotions.

The OFT has targeted many high street stores and travel firms for their use of ‘bogus’ sales and deals, insisting that their soon to be ‘illegal’ promotions are stopped before the Christmas period.

The OFT found that many deals left shoppers both confused and unable to work out the true value of what they were buying, meaning some people would get a poor credit Christmas loan to pay for something of only modest value.

OFT project leader James Macbeth said: “One of our concerns is consumer confusion about the underlying value of an offer.”

“There's also quite a strong competition element, because misleading practices make it doubly difficult for genuinely good deals to stand out.”

Sales where an ‘end date’ is repeatedly extended are to be targeted, along with masking price increases through promotions and the practice of baiting; coaxing customers into stores with cheap products that have extremely limited availability, so the customer is unlikely to benefit.

Leaders from Britain's main supermarkets and stores are holding talks with the OFT, with the rules expected to be enforced from December.

The two-month gap will allow shops time to adjust to the new regulations, with retailers who fail to comply with the rules facing prosecution and heavy fines under consumer protection laws.

Poor Credit Loans 4 You helps out people who fear they have been blacklisted because of past poor credit rating which could include CCJ’s and defaults, late credit card payments, arrears or repossessions.

Poor Credit Loans 4 You holds a Consumer Credit Licence issued by the Office of Fair Trading.

Poor Credit Loans 4 You is also covered by the Financial Ombudsman.

Poor Credit Loans 4 You is also registered with the Information Commissioner’s Office for Data Protection.

For help, phone 0800 215 5860 or visit
http://www.poor-credit-loans-4-you.co.uk/poor-credit-chri...

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Notes for Editor:

http://www.poor-credit-loans-4-you.co.uk/poor-credit-xmas...

Loans 4 You of London Ltd
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Poor Credit Loans 4 You was formed in order to ensure people with poor credit had access to specialist help in securing the poor credit loans they need.

From its UK head office in Monks Brook, Loans 4 You operates across Britain, sourcing poor credit loans for people with poor credit and especially at this time looking for a poor credit Christmas loan http://www.poor-credit-loans-4-you.co.uk/poor-credit-christmas-loans.html

Poor Credit Loans 4 You holds a Consumer Credit Licence issued by the Office of Fair Trading.

Poor Credit Loans 4 You is also covered by the Financial Ombudsman.

Poor Credit Loans 4 You is also registered with the Information Commissioner’s Office for Data Protection.

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