You may have seen or heard the news this week that the Office of Fair Trading (OFT) has issued warnings to 129 debt management companies over their business practices. Some debt management firms exploiting people in debt – BBC News We are pleased to confirm that Spencer Hayes is not one of the companies under [...]
Posts from ‘September, 2010’
UK Savers Dealing With Debts First
With interest rates remaining low people in the UK are continuing to pay off their debts rather than add to their savings. This is according to new research by Markit. The Markit figures demonstrate that fears over potential tough economic times ahead has meant that people are prioritising paying off their debts. Current record low [...]
IVAs – What are the Alternatives?
As a solution to debt Individual Voluntary Arrangements (IVAs) are a good option for many people. However IVAs are only suitable in a fairly narrow set of circumstances and so if you are having financial troubles then there is a good chance that you will need to consider an alternative solution. If you are struggling [...]
Banks Leaving Customers in Dire Poverty
UK high street banks have been accused of leaving some customers in ‘dire poverty’ after taking money out of their accounts without permission. Currently banks can move funds between different accounts belonging to the same person without giving prior notification. This practice, known as ‘setting off’, typically involves banks moving cash from a current account [...]
Debt Relief Orders Reach Record High
Latest figures from the Insolvency Service have revealed that more and more people are entering into Debt Relief Orders. In total 6295 people have entered into a debt relief order in England and Wales in the second quarter of this year. This represents an 11% rise on the first quarter of 2010 and a huge [...]