A total of 20 per cent of men are considering insolvency, compared with 17 per cent of women, according to debt firm Thomas Charles, which estimates there are 8.4 million Brits with unsecured debts of £10,000 or more. Although the…
Continue reading the "A fifth of Brits ‘considering insolvency’" »
The FSA told the Daily Mail that people’s “live for today” approach is having a negative effect on their personal finances, which could prove disastrous if the UK economy takes a downturn. According to the watchdog, a million adults are…
Continue reading the "Attitudes towards debt ‘careless and reckless’" »
Before applying for an individual voluntary arrangement (IVA), people in the north of England have average unsecured debts of £31,000, whereas those in the south have almost £45,000, according to research from Debtmatters. The report from the company also reveals…
Brian Capon, spokesman for the British Bankers’ Association (BBA), said that both sides agreed that any rogue elements in the IVA sector should be driven out. He said there had been two rounds of talks between banks and IVA firms,…
Continue reading the "Banks and IVA firms ‘in positive dialogue’" »
Users are invited to input their personal expenditures in order to obtain an estimate of how their experience of inflation is different from the official Retail Price Index (RPI). One of the reasons the ONS created the calculator was because…
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Online credit checking firm e-Business Credit Manager (e-BCM) believes that firms with up to 20 employees are most at risk since they lack the necessary tools to reduce their risk of debt and to follow up outstanding repayments. Dennis Scott,…
Continue reading the "Bad debt ‘could cause more firms to go under’" »
Debts accrued through the festive financial binge are expected to range from £5,000 to £30,000, with 300 people forecast to visit the local Citizens Advice Bureau (CAB) by March. Employees at the CAB state that annual debt in the city…
Continue reading the "£2m cost of consumer debt in Carlisle" »
Managed by several lawyers and accountants, IVA.com will post online feedback about IVA firms and insolvency practitioners. The website hopes that this will have the double effect of improving quality and increasing competition. An IVA.com spokesperson said: “We at IVA.com…
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