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Sarah Ferguson faces bankruptcy

Sarah Ferguson could be the first royal to be declared bankrupt.

Like many, Sarah Ferguson is facing bankruptcy and is weighing up what she should do. The difference of course being that she is a member of the royal family and her debt extends into the millions. (more…)

Category : Insolvency news,Personal Insolvency — Tags: , , , — admin @ 12:50 pm August 26, 2010

Bankruptcy rises among women

With structures in place to provide alternatives to bankruptcy, why are bankruptcy figures rising? Even with options such as Individual Voluntary Arrangements (IVA), statistics show that 28% of British women declared bankruptcy in the last year. (more…)

Category : Insolvency news,Personal Insolvency — Tags: , — admin @ 11:16 am August 9, 2010

UK insolvency down as economy stabilises

The UK economy is starting to stabilise. According to reports by Experian, company insolvencies decreased by more than 13 per cent during June 2010, compared with data from the same period last year. This trend shows that the UK is coming out of the recession.

The data states that 1,771 UK businesses declared themselves insolvent last month, compared with 2,044 in June of 2009. (more…)

Relying on credit cards could lead to insolvency

More people are relying on their credit cards to cover everyday expenses, according to figures released by the UK Insolvency Helpline Debt Advice Service. Between January and April this year, 40% more people contacted the service with concerns about their financial circumstances brought on by their credit card spending. (more…)

Category : Insolvency news,Personal Insolvency — Tags: , , — admin @ 1:05 pm June 13, 2010

Small pension holders now eligible for debt relief orders

Under new government plans, people in financial difficulty will be able to write off their debts more easily. The proposals, put forward by the Department for Business, Innovation and Skills, mean that people with small pension pots will now be able to apply for Debt Relief Orders (DROs). (more…)

Category : Insolvency news,Personal Insolvency — Tags: , — admin @ 11:15 am March 22, 2010

More men than women declared bankrupt

According to the statistics compiled by the debt charity Consumer Credit Counselling Service (CCCS), men are more likely to become insolvent than women. (more…)

Category : Insolvency news,Personal Insolvency — Tags: , — admin @ 11:27 am March 20, 2010

New year, old debts

As the first month in the year, January represents a new start for most people. Resolutions abound, usually relating to living more healthily, better money management and improved savings habits. This year though, many individuals and businesses will go into the new year with a financial hangover from 2009. So what’s in store for those so badly affected by the troubled economic developments of the last eighteen months? (more…)

Category : Insolvency news,Personal Insolvency — Tags: , , — admin @ 11:03 am January 26, 2010

Personal Insolvencies Soar in Scotland

Homeowners in Scotland are declaring themselves bankrupt more than anywhere else in the UK.

The number of people going bankrupt has soared in the past year with almost half of the total figure of personal insolvencies being made up by Scottish residents. (more…)

Category : Insolvency news,Personal Insolvency — Tags: , , — admin @ 12:04 pm January 22, 2010

10 Steps to get you out of debt

If you are struggling with debt, it’s likely that you don’t know where to start to manage it properly. This ten step guide will help you to clear your thoughts and start to get on top of the situation. If you still feel overwhelmed then the best advice is to talk to a professional who will be able to help you. (more…)

Category : Insolvency news,Personal Insolvency — Tags: , — admin @ 3:42 pm November 27, 2009

Insolvency tourism on the rise

Kent is becoming a hotspot for visitors from across the EU. But these visitors are not ordinary tourists. Their visits have less to do with the green and pleasant land, and more to do with England’s lenient bankruptcy laws.

The Insolvency Service has recorded a 20% increase in the number of foreigners coming to England to take advantage of the ability to clear debts faster here than at home. Some stay behind once they’ve cleared their names. German laws mean that it can take up to nine years in that country to be discharged; in Ireland it can be up to 12. In the UK, it takes just 12 months. In one case, a German management consultant was able to clear debts worth over £15million with the help of an insolvency practitioner. (more…)

Category : Insolvency news,Personal Insolvency — Tags: , — admin @ 10:03 am November 4, 2009

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