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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

You go your way, I’ll go mine

What happens if your partnership goes bad?

A partner can be an individual person or a company (corporate partners). Partners are personally liable for the debts of a partnership. Because of the joint and individual liability, a partnership can be dissolved by an application from its creditors or by the partners themselves. (more…)

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

‘Time to Pay’ tax deferral scheme will see more companies insolvent

The final quarter of 2009 saw the number of companies in distress rise by 6%. In comparison with previous recessionary periods, this indicates a trend that the current figure is likely to increase, especially as we get further into 2010 and the economy starts to return to a cycle of growth. (more…)

Category : Corporate Insolvency,Insolvency news — Tags: , , — admin @ 11:57 am