Archive for August, 2010

A worrying new report has shown that 32% of employers are expecting to make redundancies in the next three months. The quarterly report from The Chartered Institute of Personnel and Development (CIPD)and accountancy giant KPMG, titled Labour Market Outlook, showed that the proportion of employers intending to make redundancies has increased for the second quarter [...]

The recession might officially be over but the fallout from the downturn continues to impact the lives of many, particularly with regards to how people are choosing to manage their finances. Almost two fifths of consumers recently told the research firm Mintel that the recession had made them more careful about their spending, heeding the [...]

Commenting on last week’s national insolvency statistics, Louise Brittain, partner in Deloitte’s Contentious Insolvency Group, said: “The high numbers of people filing for bankruptcy is unfortunately becoming the norm. In previous quarters we have seen a steady elevation in personal insolvency levels and it is not surprising that today’s figures have continued at high levels, [...]

Record numbers are expected to miss out on university.  Those who do secure places to incur debts of £24,700 in their student years.  Class of 2010 likely to be confronted by uncertain job market when they graduate. The class of 2010 leaving school this summer is about to face a triple whammy when A-level results [...]

New analysis of official figures from the Ministry of Justice shows that men who lose control of their financial affairs tend to go bankrupt for 60 per cent more than women. Now insolvency experts at accountants KPMG are posing the question; are women more prudent than men? KPMG measured the divergence in ‘typical’ male and [...]

Redundancy, debt and repossession were a fatal combination for Barry and Amanda Harrison. After losing their jobs and dream home, depressed Barry killed his wife and himself, leaving their sons Aiden, five, and Owen, three, orphaned. Horrific tales like this are rare, but with an estimated £1,460billion of personal debt in the UK, millions are [...]

Student debt levels are projected to rise to £25,000 for those starting university this year, research suggests. The annual survey of 2,000 UK students for university guide Push also found average yearly debt had increased by 5.4% to £5,600 per year of study. The figures come as Lord Browne prepares his review of student fees [...]

Debt experts have warned that a rogue firm is contacting people who have taken out an individual voluntary arrangement (IVA) to suggest that they can stop making payments. Leading debt solutions expert, EuroDebt, is warning that this misleading activity could result in serious consequences for unsuspecting consumers. “It has been reported in the press that [...]

A representative from moneysupermarket.com has given a cautious welcome to positive statistics regarding personal insolvency. Tim Moss, head of loans and debt at the price comparison site, suggested that the number of people suffering from this type of financial problem could be set to rise. In his view, the UK should not assume it is [...]

It isn’t just the Duchess of York who is struggling with debt and taking steps to avoid bankruptcy. It is estimated that more than a million people have "problem debts" – as recession, rising unemployment and the credit crunch take their toll. Many of these people will put their finances back on an even keel [...]