Insolvency levels have fallen in Scotland, yet the UK can expect to see a rise. The number of Scots filing for insolvency has fallen in the last three months of 2011. However, these figures are slightly higher than the same period during 2010. According to Scottish insolvency firm Accountant in Bankruptcy (AiB), a total of

Some of Britain’s most popular food brands are set to leave supermarket shelves for good. Angel Delight and Paxo stuffing are just a few of the family favourites that are facing the axe as one of Britain’s biggest domestic food producers is struggling to cope with its massive £1 billion debt mountain. Premier Foods recently

UK families have seen their debt levels almost double in the last 12 months. Family debt has increased by 48% over the last year, a report from insurance firm Aviva found. The impact of high inflation, combined with soaring unemployment levels and low wages, has meant that household debts have risen substantially. Average family debt,

The UK national debt has reached £1 trillion for the first time in history. Despite sharp austerity cuts, the state of the country’s debt is higher than ever before and continues to grow. Britain owed £1003.9 billion last month, which is a significant jump from the £883 billion held in December 2010. According to the

The nation is on its knees as personal finances are becoming stretched to breaking point. [Read the rest of this entry »]

The Office for National Statistics has revealed that unemployment figures have reached 2.685 million. The total jobless figure has hit a 17-year high as the economy has continued to struggle. The number of available jobs has also fallen and the government’s wave of public spending cuts has only added to mass unemployment. As a result,

People who wish to retire in 2012 face a massive reduction in their incomes compared to the last four years. Research from Prudential, the leading insurance company, found that the average annual retirement income has dropped by 16% since 2008 to just £15,500 per year. The high cost of living and the harsh bite of

Millions of people across the country are struggling to cope with the tough financial pressures of everyday expenses. Shockingly, at least 2.5 million people are currently behind on at least one bill payment, with millions more in the red. As many as ten million Brits battle with their debts on a daily basis, living in

A staggering 6 million UK households would run out of cash before the weekend if left to survive on their savings, a new report shows. According to insurer first direct, a staggering 6 million Brits have less than £250 in accessible savings. With such a meagre financial safety net, most people would only survive for

Half a million children face growing up in poverty in the UK as the cost of living soars. According to a report by the Institute of Fiscal Studies for the Family and Parenting Institute (FPI), the average household with two children will face a staggering income drop of 4.2% by 2015-16. That’s the equivalent to