An incredible image of a pawnbroker wearing six Rolex watches, in front of sports cars and an aeroplane pawned by businessmen with debt management problems has stunned many Daily Mail readers.
The photo on the newspaper’s website, features two Ferraris, a Porsche and a French two-seater Cap 10 stunt plane which illustrates how widespread the recession [...]
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Even super-rich suffering with debt management issues
Baywatch star reveals debt management problems
Baywatch babe Pamela Anderson has revealed on TV that she has recently experienced debt management issues.
The American star confessed that she had failed to keep abreast of her financial affairs and had suffered in the recession as a result of a string of investments turning sour.
Anderson, who is infamous for blowing thousands (on her plastic), [...]
Online insolvency speeds up bankruptcy decisions
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 decision, after [...]
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 that 24% [...]
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 with gas [...]
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 at historic [...]
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 the third [...]
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 the [...]
Loan sharks causing debt management problems for housing association tenants
Housing associations have reported that loan sharks are causing debt management problems for some of their poorest and most vulnerable tenants.
Community Housing Cymru (CHC), which represents housing associations in Wales, is launching a specific campaign to raise awareness with their tenants and warn them about borrowing money from potentially violent and intimidating lenders.
Loan sharks target [...]
Formula 1 Loses Toyota due to Financial Problems
It has been confirmed by Toyota that despite signing the concorde agreement to race earlier this year that they will not be racing in 2010. Toyota had delayed officially announcing one way or the other until last weeks board meeting at head office in Japan. The decision is due to the parent company posting its [...]
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 figures show [...]
Mr Leach from Liverpool
Mr Leach came to us on 26 June 2008. He owed over £11,000 and was in receipt of 3 pensions but was really struggling as his wife was unable to work due to her deteriorating mental state.
Mr Leach had battled to look after his wife for the past 4 years and came to us as [...]
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 make a [...]
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 nude [...]