A new research shows that the North East of the country may be more in need of debt management such as Individual Voluntary Arrangements and Debt Relief Orders to deal with debt problems.
The bankruptcy map of the UK was compiled by R3, the insolvency trade body. The results of the study show that the likelihood [...]
North East UK more in need of debt management
July 27th, 2010Fake loans warning for those in debt
July 19th, 2010The Citizen Advice Bureau has issued a warning for borrowers struggling to get credit from their banks and building societies. They have been urged to beware of companies offering fake loans for a fee.
The agency says that it has enough evidence to prove that there are bogus companies out there in the market who are [...]
11% of the UK population having problems in repaying debts
July 15th, 2010Going by the recent government figures, Britain seems to be caught into one of the worst credit binges in history with about 11% of the UK population having problems with repaying their debts. More alarming is the fact that the figure is continuing to rise.
According to Citizens Advice while it is true that some people [...]
New mothers forced to go back to work to deal with mounting debt
July 7th, 2010Welcome to my weekly blog and I hope you all are having a nice summer and enjoying the World Cup – now from a neutral point of view!
A recent study reveals that more than half of new mothers return to work due to financial pressures, with many cutting their maternity leaves. According to the survey, [...]
CAB: Additional 2.4 million people sought debt advice in 2009
June 22nd, 2010Welcome to the latest edition of my blog. According to the latest annual statistics from the Citizens Advice Bureau (CAB), an additional 2.4 million enquiries for debt advice were received by its call centres in 2009 compared to 2008.
The CAB report shows that of all the calls they received, 34 percent were from people who [...]
Tax rise could mean debt trouble for over-55s
June 14th, 2010Tax rise could mean debt trouble for over-55s
Welcome to the latest edition of my blog. The focus this week is on tax rises and in particular the effect it will have on people approaching retirement. A recent suggests that people in the over-55s age bracket are more worried about the impact of tax rises on [...]
Average household in Britain owes £57,950 in debt
June 4th, 2010Welcome the weekly edition of my blog and I hope you all enjoyed the bank holiday weekend even though the weather disappointed a bit!
Another day goes by and the nation sees itself further in debt. According to the latest figures, the collective debt of personal debts in Britain amounts to £1,460bn, which means as individuals, [...]
How to face the threat of bankruptcy
May 17th, 2010The record insolvency figures reveal that the economic crisis is far from over and even though the economy is showing signs of revival, it has left a lasting legacy. Going by the reports, more people are expected to go bankrupt in the coming months.
Each year sees more than 100,000 people becoming insolvent and experts warn [...]
Insolvency figures for the first quarter of 2010 hit new high
May 12th, 2010Welcome to the latest edition of my blog.
Amidst the turbulent elections and hung parliament and the growing economic crisis across Europe, it has certainly been an eventful week!
Getting away from the continued election debates, last week the Insolvency Service released its latest statistics which showed that more than 35,600 people became insolvent in the first [...]
Unnecessary stigma hinders people in the UK from seeking debt management help
April 26th, 2010Welcome to the latest edition of my blog and I hope you all had a lovely weekend.
The focus of this weeks posting is on the stigma associated with debt.
New research from R3, the insolvency trade body, shows that there is still unnecessary stigma attached to seeking debt help and as result people who do not [...]