The amount of people in England and Wales seeking to declare themselves bankrupt rose by 20 per cent and the total number of bankrupts reached 15,796. Commenting on the figures, Mark Sands, director of court work at analyst firm KPMG…

According to AA Savings, a third of people are concerned how they will cope financially while 15 per cent said they are “worried they won’t be able to make ends meet”. “Retirement used to be an occasion of celebration and…

Mr Purnell warned that only 30 per cent of women retire on a full state pension, compared to 85 per cent of men and said that this needs to change to stop people retiring in debt. “The worrying reality is…

Deborah Taylor had established a business which, after taking out loans, pushed her into £134,000 of debt, but since taking out an IVA she has already repaid a fifth of the sum. “It was a horrendous experience,” the web designer…

As official figures show that UK household expenditure on education fees has increased by 50 per cent since 1999, many parents are taking a loan to cover the costs. “Around 620,000 children are now privately educated in schools, which are…

There were 26,000 personal insolvencies between April and June this year, compared to just 15,600 last year, as more people struggle with debt, but Mr King said it was not a major economic problem yet. “Debts would only become a…

Governor Mervyn King warned that the recent rise to 4.75 per cent may not be the only one as inflation begins to approach three per cent. Mr King said that “overall the central view described in this inflation report is…

On average the over 50s saved £550 between April and June, while 20-somethings experienced a 13 per cent drop in savings over the same period, Birmingham Midshires said. “It is reassuring to see that those in midlife are saving toward…