The 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 […]
Read MoreThe Ministry of Justice has launched a consultation process on the regulation of debt management companies. The consultation paper will explore whether regulated schemes should be introduced, how they would work and whether tighter non-statutory regulation of current schemes would be more appropriate. Debt Advice Foundation welcomes the move, which combines two of the charity’s […]
Read MoreNew figures show Citizens Advice Bureaux in England and Wales dealing with 9,300 requests for debt advice every working day. This is a 27% increase in the three months to the end of June 2009 compared with the same period last year.
Read MoreActor Neil Morrissey has entered an IVA after admitting to having debts totaling £2.5m. Neil’s portfolio of property and commercial enterprises failed to perform, leaving him insolvent and facing bankruptcy. But Morrissey said “Bankruptcy’s the easy way out. I decided no, I’d step up to the plate, try to do the right thing and get […]
Read MoreOne hundred companies offering to write off debts or secure personal injury compensation have been shut down by the Ministry of Justice in the last two years. The Ministry of Justice said a number of firms had been guilty of misleading advertising, claiming that credit card debt could be written off within six weeks or […]
Read MoreA groundbreaking initiative launched by Debt Advice Foundation and Southlands High School, has resulted in two Southlands pupils, Ruth Gratton age 15 and Nicola Harescough age 16 becoming published authors. The Debt Advice Foundation approached Brian Souter, Deputy Head Teacher of Southlands School, to ask if an educational tool could be developed by pupils to […]
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