Bad debt charges rose from £22.5 million to £44.5 million, but the company was still able to increase its profit growth target by five per cent. Its chief executive, Adam Applegarth, pointed the finger at the change in UK bankruptcy…
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According to John Borgars of Equity Development, many firms set up to help people clear debt charge fees which can add to their problems. He praised ClearDebt for its affordability, in contrast to firms such as Loanmakers, which collects a…
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Price comparison website uSwitch has criticised lenders for dropping monthly minimum repayments to as little as two per cent of the balance, arguing that this makes borrowing more expensive in the long-term. Nick White, head of personal finance at uSwitch,…
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High levels of student debt mean that the majority of graduates are increasingly sceptical of their chances of getting on the property ladder. The need to clear debt before saving up for a deposit means that more than a third…
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John Borgars of Equity Development said that ClearDebt was cheaper than competitors which typically charge over £4,000 per case they handle. In addition to the lower charges, he added that ClearDebt sought these fees from other sources rather than an…
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The report’s authors believe it will help people avoid getting caught in a debt trap and gives advice on how to use cards without getting into debt. “It’s clear that credit card debt is one of the major factors of…
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Vincent Cable, the party’s economics spokesman, said that the four-fold increase in the amount of young bankrupts since 2001 showed a “pressing need” for financial education. “There is now a pressing need for better financial education for the young. This…
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According to John Borgars of Equity Development, IVAs are both quicker than formal bankruptcy procedures and avoid incurring large lawyers’ fees. Mr Borgars said that the introduction of IVAs combined earlier forms of informal and cheap agreements with the advantage…
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