According to the government’s Insolvency Service, the total number of bankruptcies, insolvencies and individual voluntary arrangements in the final quarter of 2006 totalled 29,804. This is a 44.1 per cent increase on the same period in 2005. Pat Boyden, from…

Beccy Boden Wilks, from National Debtline, has expressed concern that women’s magazines are exerting social pressure to buy new clothes, which could be why more and more women are racking up credit card debt. Her comments follow findings from the…

– most of whom are single women – many chose not to do so because of the social stigma. This is in contrast with new research by the Bank of England that found people are much more likely to go…

Rightmove’s warning follows the latest 0.25 per cent hike in the base rate – the third such occurrence since August. The firm acknowledged that the rate rises were partly in response to rising property prices but cautioned that driving up…

Realising that mortgages account for £1,000 billion of this debt mountain, the charity has expressed concern that people are taking on home loans that are too much for them, reports Associated Newspapers. Including mortgages, the average amount owed by every…

Moneyfacts has said that a rise in the official cost of borrowing, which will be echoed in mortgage and personal credit rates across the UK, could be “the tipping point” for many people. In fact, the website said it is…

Neil Munroe, external affairs director of credit rating firm Equifax, said that UK debt stands at £1.2 trillion and consumers spending, with a buy now pay later mentality, added to this growing problem. A sign of this is that a…

Speaking to Reuters, Mike Norris, director of policy at the Insolvency Service, said that the move should help consumers avoid bankruptcy. “By keeping people out of bankruptcy and, where appropriate, getting them into Simplified IVAs, we would expect to see…