Decisions on debt management problems looks set to be made quicker, after the government announced proposals to allow bankruptcy declarations online. If accepted, the suggested changes could mean that decisions on insolvency are made in days rather than weeks. These proposals were announced to limit the amount of further debt acquired whilst waiting for a [...]
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Category Archives: Debt Management News
Debt management of low paid increases homelessness risk
The way how many low paid households handle their debt management is leaving them at an increased risk of homelessness, according to a leading thinktank. Findings from the Resolution Foundation have shown that around a quarter of the 14.3 million households receiving low pay, are in danger of being sucked into poverty. The research found [...]
Debt management problems rise with fuel bills
Britain should prepare for even more debt management problems, as fuel costs look set to go through the roof over coming years. According to Britain’s energy regulator Ofgem, the crisis with Russian gas supplies will mean prices are likely to increase. Ofgem boss, Alistair Buchanan, said that over the next few years the Russian crisis [...]
Debt management problems for credit card customers set to soar
The debt management problems of many credit card customers looks set to continue, according to a leading accountancy firm. PricewaterhouseCoopers (PWC) published a report that predicts that “bad debts” will make up as much as 9 per cent of all outstanding credit card debts by the end of 2010. The number of bad debts are [...]
More debt management worries as insolvencies hit record high
As unemployment and debt problems have worsened this year, the number of people struggling with their debt management has risen dramatically – reflected in the latest insolvency figures released today. Personal insolvencies in England and Wales were up by 28.3 per cent over the last twelve months according to figures from the Insolvency Service. During [...]
End of self-cert signals debt management clampdown
A clampdown on self-certification mortgages will commence at the end of this week, after the sector’s last provider claimed it was withdrawing from the market, following a report on the poor debt management of many self-cert mortgage holders. Platform, a division of the Co-operative Bank, announced that they would be taking their self-certification mortgages off [...]
Debt Management OFT Audit
Whilst many debt management companies strive for high standards of transparency and fairness, recent findings from the OFT and Ministry of Justice have found that there are still some out there who are less than adequate. The OFT has launched a round of compulsory audits on the debt management industry today. One type of debt [...]
Repossessions set to soar as interest rise fuels debt management problems
As interest rates start to rise again from their historic lows, the debt management problems of many Scottish homeowners could soar fuelling higher repossession numbers. According to housing charity, Shelter Scotland, many households in Scotland will be unable to keep hold of their properties once interest rates rise as costs continue to increase. Sheriff Court [...]
Consumer confidence up despite rise in debt management enquiries
Green shoots of an economic recovery have raised UK consumer confidence to the highest level in 2 years, despite enquiries for debt management increasing. A European Commission index of consumer optimism leaped to its highest level since January 2008. The report produced by GfK NOP showed that consumers thought this was the best time to [...]
X Factor X-rated solution for debt management problems
Celebrity judge of ITV1′s X Factor, Dannii Minogue has revealed that she settled her debt management problems in a rather unconventional way – by becoming a Playboy covergirl. Ms Minogue explained that she managed to get out of debt, in a way that few people experiencing debt problems would be able to emulate, by stripping [...]
More car loans bring potential debt management problems
Since the government introduced the car scrappage scheme, there has been a sharp increase in the number of consumers putting their future debt management at risk by taking on more debts. According to findings from Sainsbury’s Finance, the car scrappage scheme has been directly responsible for a 37 per cent increase in the value of [...]
Government set to stop credit card debts spiralling
In an effort to stop credit card debts spiralling out of control, card holders could be forced to double their monthly payments according to government recommendations. This week, consumer affairs minister Kevin Brennan is set to announce the results from his research into credit and store card practices, and it is predicted that the minimum [...]
Record recession triggers debt management warning
The UK economy sparked a further debt management warning after it was revealed to be the longest in UK history. An unexpected contraction in the economy by 0.4% between July and September, makes this present recession the longest since records began. This is the first time ever that UK gross domestic product (GDP) has shrank [...]
US Debt Problems Hinted at by Unemployment Statistics
Statistics released by the US government this week go a long way to confirm that people in certain states face significantly worse debt problems than those in other states simply due to a lack of solid employment opportunities. Millions of Americans are struggling to find work, the situation is tough especially for those in Navada, [...]
£7 billion Raised by UK Sale of 50 year Gilt
In an effort to generate more cash, £7 billion worth of bonds were put on sale today. The 50-year bonds are officially the longest-dated securities ever issued by a EU government. The recession has placed the UK in its worst financial situation since the end of World War II, as a result, we have become [...]