Almost a million people in the UK are struggling alone with debt problems. This is the conclusion of a study by insolvency organisation R3 which revealed that despite financial problems many people aren’t receiving any professional help or advice. According to the research a number of reasons are stopping people from getting help with their [...]
Posts from ‘July, 2010’
How long does it take to get an IVA?
If you’re suffering from overwhelming debt problems then getting an IVA could be the best option for you. So how long does it take to get an IVA? Since every individual voluntary arrangement is unique there is no default answer to this question with the length of time it takes to set up the IVA [...]
Are UK Banks Ripping Off Customers?
UK banks are ‘ripping off’ their customers according to Business Secretary Vince Cable. Speaking to the BBC, Mr Cable said that forcing banks to change their practices would be a key test of the coalition government. He said ‘When we talk about about restructuring the banks whats going to come out of this is a [...]
Bankruptcy Risk Highest in the North East
Latest figures have shown that you are more likely to be declared bankrupt or enter into an IVA if you live in the North East than anywhere else in England and Wales. Insolvency trade body, R3 recently published a ‘bankruptcy map’ revealing the regions that have seen the highest proportion of new personal insolvency cases. [...]
Bankrupts ‘Need Bank Accounts’
People who have been made bankrupt are being treated unfairly by UK banks and building societies. This is the opinion of Citizens Advice who claim that many banks will not allow bankrupt individuals to open even a basic account. Of 17 banks and building societies contacted by Citizens Advice only two would allow an undischarged [...]
Solving Debt Problems – What are your options?
With latest statistics showing average household debt in the UK reaching as high as £8,716 (excluding mortgages) it is perhaps of no surprise that more and more people are facing up to financial difiiculties. Currently rates show that someone will be declared insolvent or bankrupt every 51 seconds! Fortunately if you are having trouble keeping [...]
The Confusion of Consumer Debt Advertising
If you are struggling with financial problems, particularly if you are being threatened with bailiffs and Court, then it is imperative you get professional debt advice as soon as possible. However, for many people getting the correct advice quickly is often easier said than done. For many people with debt problems, Citizens Advice is usually [...]
Least Useful Financial Products Revealed
A recent report has revealed the least useful financial products currently being offered to UK consumers. The report published by consumer rights magazine Which? rated the worst buys from the many financial products on which millions of pounds are wasted by the British public each year. Topping the list as most worthless is mobile phone [...]