Archive for July, 2010

Consumer Affairs Minister Edward Davey has announced a Government review of the consumer credit and personal insolvency industry.  Stakeholders will be given the opportunity to voice their views of what is working well to help the government reshape consumer credit policy. To be conducted with the Treasury’s Financial Secretary Mark Hoban, areas it will cover [...]

A legal assistant from Aberdeen has been declared insolvent after running up over £18,000 of unpaid parking fines in the short space of a year. 27 year-old Claire Williams regularly left her VW Beetle in metered spaces near her workplace, Lindsay and Kirk solicitors and estate agents, and would walk off without paying. Ms Williams [...]

Britons are watching £150 million go down the drain each year on late credit card payments, new research by Confused.com reveals. Each of the 33,465,075 active credit card accounts in the UK have been charged an average of £12 in the last 12 months, which amounts to £150 million in late payment fees.   Out [...]

New research shows the cost of living has increased 38 per cent over the last decade, putting considerable financial strain on households with low incomes. We look at your debt management options. Research published by the Joseph Rowntree Foundation (JRF) shows that people on low incomes face a much higher inflation rate than shown in [...]

Children’s education on money matters should begin in primary school so conumers know how to manage debt in adulthood, a financial expert has claimed. Zoe Stevens of Confused.com said financial education would help the consumers of the future learn to maintain a high credit rating so they can access the best value loans and credit [...]

Despite fears of a second wave of the credit crisis, families are refusing to cut back on their annual holiday, with more than 10 million Britons saying they will use debt to get away this summer. A total of 13 per cent justified borrowing money to pay for their holiday saying that they had to [...]

R3, the insolvency trade body, has published a ‘bankruptcy map’ revealing the regions and local authorities that have seen the highest proportion of new personal insolvency cases. The bankruptcy map which looks at the number of new bankruptcies and Individual Voluntary Arrangements (IVAs) that occurred in England and Wales shows that the likelihood of becoming [...]

A Pensioner was threatened with legal action – over a £1 council tax debt from 13 YEARS ago. Stunned great-gran Jaki Coombe, 64, threw the demand in the bin – because she thought it was a joke. But Aberdeenshire Council later sent her a final notice saying they’d pass it on to sheriff officers if [...]

The average number of new personal insolvency cases in 2008 in England was 24 people out of 10,000 according to R3 an insolvency trade body. Its findings were published today (7 July) in a ‘bankruptcy map’, which revealed the regions and local authorities that have seen the highest proportion of new personal insolvency cases that [...]

Financial solutions company Think Money has welcomed calls for the government to extend support to struggling borrowers who face losing their homes. But the company added that homeowners should not hesitate to take action themselves when it comes to tackling debt, and said that in many cases there may be a debt solution that could [...]