How debt solutions affect your credit score and the effectsWe look at how debt solutions can affect your credit score with details about the effects on renting, jobs and access to credit.Continue reading..
Total Individual Insolvencies up in third quarter of 2015Total individual insolvencies have increased for the first time since the second quarter of 2014 according to Insolvency Service figures.Continue reading..
Consumer debt crisis shifting from unsecured borrowing to arrears in priority billsForecasts from influential bodies suggest that the consumer debt crisis maybe shifting from unsecured borrowing to arrears in priority bills.Continue reading..
New DRO and Bankruptcy threshold values to be introduced in September 2015
New rules around debt levels and affordability will make it easier for people on low income to deal with their debts What is a DRO? A debt relief order (DRO) is a way for you to have your debts written off if you owe less than £15,000 (currently), and have very few assets and can’t… Continue reading..
Coronation Street Bailiffs Storyline “Disgusting”
Bailiffs hit the cobbles in Coronation Street this week, as the Windass/Armstrong clan watch their possessions seized after failing to pay their debts. The scenes were not easy watching, and certainly tougher for those viewers struggling with arrears. But how much of the drama could become reality, and what happens if you find yourself facing… Continue reading..
Bankrupt Eleven: Footballers With Mis-managed Finances
With the World Cup fast-approaching, take a look at a line-up of eleven famous footballers who have been declared bankrupt in the past, suggesting that, even on their salaries, it can happen to everyone.
Nick Griffin and Other Famous Bankrupts
As Nick Griffin, leader of the BNP, announces he is the latest public figure to go bust, we take a look at other famous bankrupts. From MC Hammer to Walt Disney, it seems financial difficulty can hit anyone. Nick Griffin Nick Griffin was declared bankrupt for a period of twelve months on 2nd of Jan… Continue reading..
Bankruptcy Advice For England And Wales
You’ve been burdened with debt for years. As hard as you have tried, however, you simply can’t find an effective way to rid yourself of it. Perhaps you don’t have the income for monthly payments with an IVA or debt management plan, or you can’t scrape enough cash together for a full and final IVA…. Continue reading..
Bankruptcy: A bitter pill to swallow, but sweeter than it was.
Anyone who is in the unfortunate position of going bankrupt and thinks it is the end of the world, should be thankful for 21st century legislation. In moderm times, the consequences of personal bankruptcy are nowhere near as harsh as they once were. Origin of the Term Bankruptcy The word bankruptcy is formed from the… Continue reading..
Different Ways of Tackling Debt Problems to Avoid Bankruptcy
When you find yourself in a tricky financial situation, life often becomes very difficult, and realising that you do not have enough spare money each month to meet your financial obligations leaves you feeling stressed and worried. Further borrowing on credit and store cards may offer some respite, but eventually you will have exhausted those… Continue reading..
The Affects of Bankruptcy
Bankruptcy is a difficult experience for anyone to go through, but for some if us there is no other alternative. But what exactly are the effects of bankruptcy and how can you recover from it? Once you have been declared bankrupt, you will lose control of your assets, including your home. This is a serious… Continue reading..
Cancel Bankruptcy in Scotland
Filing for bankruptcy is a huge decision to make. But what if you realise that you did not need to file for bankruptcy in the first place? Petitioning for a recall is a complicated procedure that requires a solicitor who specialises in insolvency matters. Here are some tips to cancel bankruptcy in Scotland. Getting started… Continue reading..
How the bankruptcy process works
First steps Get legal or financial assistance. Go to a Citizens Advice Bureau, a solicitor, a qualified accountant, an authorised insolvency practitioner, a reputable financial adviser or a debt advice centre. File your bankruptcy petition at your local county court or at the High Court in London. Creditors may also file bankruptcy proceedings against you… Continue reading..
Guide to the misconceptions of insolvency
Scared of bankruptcy? Heard nothing but horror stories about people struggling after filing for bankruptcy? Many times people have avoided filing for bankruptcy because they are too scared of the so called implications. Most of the time these negative rumours and stories are misplaced simply because of a lack of knowledge of the subject. Bankruptcy… Continue reading..
Bankruptcy Disadvantages to Consider
Today in the UK, 1 person every 3.72 minutes will be declared insolvent or bankrupt. According to statistics by Credit Action, this equates to 386 people per day. For anyone who is struggling with debt problems, these statistics can make very scary reading. If you are considering your debt solutions, what bankruptcy disadvantages are there… Continue reading..
Bankruptcy Advice: Bankruptcy Disadvantages
One Advice would always recommend that you seek professional bankruptcy advice before declaring yourself bankrupt, as there are a number of bankruptcy disadvantages which cannot be avoided. We have a complete Bankruptcy Advice Service who can help answer any questions which you may have in relation to bankruptcy. We could be able to help you… Continue reading..
Declaring Bankruptcy Through Divorce
The amount of people filing for bankruptcy has increased dramatically in the past few years, all stemming from the outrageously high cost of living that seems to haunt us. From exorbitant fuel and food prices, to vehicles, education and property, prices all over the world seem to be skyrocketing, and there isn’t really anything you… Continue reading..
Alternatives to the Bankruptcy Process in the UK
Bankruptcy is the most extreme of all the debt solutions, and bankruptcy should only ever be used only as a last resort, once you have exhausted all the possible bankruptcy alternatives and have found no other way to deal with your unmanageable unsecured debt. For most people, this is not the best option for dealing… Continue reading..
Christopher Biggins and the Benefit of Bankruptcy
Christopher Biggins, yet another of the ‘I’m a Celebrity’ alumni to have faced bankruptcy, is now back in the black and thankful for his experience. He provides an insight into the financial factors that can have such an impact on the lives of those that do not have the benefit of a stable income. For… Continue reading..