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 under ‘Debt Management’
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 [...]
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 [...]
Brits Changing Shopping Habits to Cut Costs
Over 80 percent of UK shoppers have changed the way they shop in an attempt to cut costs and reduce debt. This is the conculsion of a study by banking group Santander who looked into how the shopping habits of the UK public have changed during the current economic crisis. According to the research over [...]
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 [...]