MARGIN: 0.0cm 0cm 0pt; TEXT-ALIGN: justify”>With more people than ever before in the UK going Bankrupt (the Insolvency Service has provisionally estimated that 2009 will see an 11% increase on 2008, previously the highest on record), it has just been announced that the debtor’s Bankruptcy deposit is to increase from 6th April 2010 by 25%, […]
Read Moremargin: 0cm 0cm 0pt; text-align: justify;”> Research carried out by debt advice charity Debt Advice Foundation has revealed 47% of people struggling with debt are hiding their financial problems from loved-ones, with 21% claiming they’d been burdened with their partner’s debts.
Read MoreA company called the IVA Review Board (IRB) is sending letters to debtors in individual voluntary arrangements (IVAs) suggesting they may be able to stop making payments – despite attempts by the Office of Fair Trading (OFT) to revoke its licence. Industry experts warn that the letters could lead to debtors having their IVAs terminated. […]
Read MoreStatistics released by money advice charity Credit Action reveal that total UK personal debt increased 0.7 per cent in the 12 months up to the end of November 2009 to £1.46trn. However, bucking the long-term trend, consumer credit lending actually fell by a net £400m during the month of November as banks continued to tighten […]
Read MoreMOJ have published Debt Management guidelines for UK consumers in the wake of a steep rise in the number of formal investigations in the market. Since April 2008 the OFT has undertaken 24 formal actions, including revoking licenses held by debt management businesses. As well as highlighting the advantages of debt management plans such as […]
Read MoreThe number of new repossessions in the third quarter of 2009 reached 14,000 in a 2.8 per cent rise on the previous three months, data from the Financial Services Authority reveals. The FSA’s data on UK mortgage lending shows that this number of repossessions was five per cent below the peak at the start of […]
Read MoreAt Christmas it’s especially tempting to get carried away and spend more than you can afford to. All too often this can lead to worry and regret when the credit card bills arrive in January. This Christmas we are appealing for people to set themselves the challenge of planning a Christmas budget and sticking to […]
Read MoreChek Whyte, who appeared on Channel 4’s Secret Millionaire has succeeded in striking a deal with creditors that could save him from bankruptcy. His creditors yesterday voted for a new Individual Voluntary Arrangement (IVA) that pledges Mr Whyte will pay back debts owed over a period of time. The property developer, whose businesses have debts […]
Read MoreLocal authorities can avoid heavy-handed treatment of Council Tax arrears – criticised by the Local Government Ombudsman this week – by partnering with recognised debt advice services to help deal with the underlying problem. UK registered charity The Debt Advice Foundation issued its advice following two announcements from the Ombudsman this week, in which Newham […]
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