margin: 0cm 0cm 0pt; text-align: justify;”> Debt Advice Foundation, a national debt charity, finds that people often fall into the pitfalls of debt because of money management issues – and is therefore calling on people to spare some time for their finances.
Read Moremargin: 0cm 0cm 0pt; text-align: justify;”> According to research carried out by the British Banker’s Association, £1.3bn in consumer loans was issued in February 2010, which is an increase of £100m on the previous month and the highest on record since September 2009.
Read MoreMARGIN: 0.0cm 0cm 0pt; TEXT-ALIGN: justify”>A new initiative to tackle interim periods of consumer insolvency has been announced by the Ministry of Justice that will allow struggling consumers to make minimal token payments until their financial situation has recovered sufficiently to reinstate contracted repayments terms. In return, they will be given breathing space by their […]
Read MoreRecent industry research on Debt Management Plans (DMPs) has revealed the financial nightmare many consumers are facing due to ill-advised debt solution schemes – further reinforcing the need for a new regulatory framework for debt advice providers. Last week, R3 – the insolvency trade body, provided an insight into the pitfalls of Debt Management Plans […]
Read MoreMARGIN: 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 Moremargin: 0cm 0cm 0pt; text-align: justify;”> With personal insolvency at an all time high, national debt charity Debt Advice Foundation has launched an online debt tools section to combat Britain’s spiralling debt problems. margin: 0cm 0cm 0pt; text-align: justify;”> Figures released today show that 134,142 people became insolvent in the UK during 2009 and a […]
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 […]
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