The quarter point increase, which is the second such hike of 2007, will stretch the finances of borrowers across the country and make it more difficult for many to avoid bankruptcy. Financial pressures are likely to increase particularly on home…

The Insolvency Service has revealed that in the year ending March 31st 2007 there were 113,089 people who opted to declare themselves bankrupt or enter into an Individual Voluntary Arrangement (IVA) in the UK. Additionally, the service noted that there…

Insolvency practitioner Phillip Allen suggests that consumers across Britain are finding it increasingly easy to accumulate debts through online betting websites and many seem certain that bankruptcy is their only option. And Mr Allen, who runs the Debt Lifeboat company,…

A study carried out recently by moneysupermarket.com suggests that not switching an arrangement away from a mortgage provider’s standard variable rate is leaving millions of British consumers out of pocket. On expiry of an introductory mortgage deal, providers commonly put…

Analysts at the centre have been consulting what they consider to be key indicators of consumer spending habits over the course of the last ten years and make clear that many households have been maintaining lifestyles beyond their financial means.…

The OFT ruled that, in effect, banks had been breaking the law by levying ‘unfair’ charges to fund their operations, at the expense of the ordinary financial consumer, Mr McManus maintains. And with millions of Brits facing potential bankruptcy and…

Phillip Beck, from freeivadvice.co.uk, maintains that “lax lending policies” have resulted in people gaining credit when they are clearly unsuited to such an arrangement and subsequently found themselves facing serious financial difficulties. Mr Beck commented: “The banks could very easily…

Philip Beck, who runs the online service freeivaadvice, suggests that for many British consumers bankruptcy can be the right solution to their debt management problem. And this less than traumatic experience of bankruptcy, when relayed to friends, family or colleagues…