The number of consumers in need of debt management advice is still on the increase, as it immerged that the UK economy is unlikely to see signs of growth until next year. Many consumers that were financially stable before the start of the recession are now struggling to keep their heads above water, and are [...]
Debt Management Plans | IVAs | Debt Help
Monthly Archives: June 2009
Debt advice for landlords
According to figures released by the CML, the Council of Mortgage Lenders, buy-to-let landlords are suffering repossession at more than three times the national average. Their research shows that landlords lost 1,700 buy-to-let properties in the first quarter of 2009. Many of these landlords are new to the property investment game and do not have [...]
Cheaper fuel proposal could help debt management clients
A committee of MPs has proposed that winter fuel payments should not go to taxpayers in the high-rate band, and the cash saved should be used to help reduce fuel bills for the poor. This news was warmly welcomed by debt management providers, as it could provide a bit of financial breathing space for consumers [...]
Demand for debt advice soars
The number of consumers requesting debt advice and redundancy help has increased by almost 200% over the last year according to Citizens Advice. The charity has claimed that enquiries have nearly tripled in the period February to April, compared to the same period of time last year. They have blamed low incomes, and a lack [...]
IVA and bankruptcy at record levels
According to figure gathered by the latest YouGov debt survey, the number of personal insolvencies in Britain is nearing the one million mark. This is made up of bankruptcies, individuals entering into an IVA or Trust Deed and consumers opting for a less formal Debt Management Plan. The number of people entering debt management has [...]
Airline debt problems set to increase
IATA, the International Air Transport Association has stated that it expects airlines to lose $9 billion during 2009. This estimation is almost twice as much as what was predicted only 3 months ago. The news could not come at a worse time for the air traffic industry, compounding the debt problems that operators are already [...]
Lloyds to get out of debt to taxpayer
Lloyds Banking group shareholders have strongly supported a new rights issue, opting to buy 87% of the new shares that were on offer. This is good news for the government, as Lloyd’s first attempt to get out of debt to the taxpayer has been met with overwhelming support from its current shareholders. The rights issue [...]
Credit card debt management brings hope
The problem with credit cards is that they make it all too easy to buy whatever you want, whenever you want it. It can be like walking around with a wad of cash in your pocket, without the security risks that go along with having lots of money on your person. Whether it is a [...]
C&G staff joins the queue for debt advice
Lloyds Banking Group sent shockwaves through the financial world as it announced the closure of all Cheltenham & Gloucester branches, and proposed job cuts of more than 1,600. The news will not be welcomed by many C&G staff, which are now faced with a bleak future and may now find themselves seeking debt advice, instead [...]
Be debt free with tips on how to get out of debt
If you are having trouble keeping your repayments up to date on various accounts, and household bills, then you could be in serious financial difficulty. The time to act is now, if you would like to know how to get out of debt and be debt free. There are a number of different debt solutions [...]
Welsh need for debt advice on the increase
Requests for debt advice have increased by more than 19%, over the last 12 months, according to Citizens Advice Bureau bosses in Wales. CAB managers have warned that the true human cost of the current economic down turn has yet to be seen. There are 32 CAB offices in Wales, and in the last 12 [...]
More consumers in need of debt help are seeking IVA advice
More people are in need of debt help solutions, according to recent reports that personal debt is on the increase in the UK. The average level of borrowings has also incresed, with more consumers now qualiying for Individual Voluntary Arrangements, and seeking IVA advice from Insolvency Practitioners. According to a report from Scottish Widows, the [...]
Bank of England offers debt relief as interest rates are unchanged
The Bank of England provided much needed debt relief to businesses, and consumers alike, as it left the cost of borrowing the same. The rate has been at 0.5% for three months now, and it has helped to stimulate the economy in a number of ways, primarily by putting more money in the pockets of [...]
Ryanair's loo charges attempt to eliminate debt problems
Customers may be charged a pound to spend a penny as troubled airline Ryanair tries to reverse the debt problems recently reported. The Irish airline reported £155m losses this week, the first negative figures in its 20 year history, and now aims to recoup these by maximising additional revenues and sorting out their debt management [...]
Debt advice specialists fear false dawn
Many financial commentators fear that we may not have seen the worst of the recession, and that the small signs of improvement that have been witnessed, may herald a false dawn. Some so-called economic experts have pointed to a few signs that indicate “green shoots of recovery”, however these signs are very small, and should [...]