North West based debt management specialists No Debt Now are planning to relocate to Altrincham in the new year. The company offers debt advice and assistance to consumers that are having difficulty keeping up repayments on unsecured credit commitments, including credit cards and personal loans. For the majority of clients the most suitable course [...]
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DEMSA/OFT Approval
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DEMSA is an organisation founded to monitor and maintain high standards in the Debt Management industry. All members of DEMSA are bound by the terms of the Code of Conduct established by DEMSA. Read more...
Monthly Archives: November 2008
RBS In Government Hands
The Royal Bank of Scotland’s attempt to recapitalise with a share issue has had a very small uptake from the market. The government will now take up the shares and will own around 58% of the RBS group, which includes NatWest Bank. The government will pay around £15 billion for it’s stake in [...]
Debt Management Firms Get Busy
UK Debt Management companies are dealing with increased demand for their services in light of the current financial meltdown. Large numbers of cash strapped consumers are finding it hard to make ends meet and are seeking debt advice and debt help programmes as a means of relief from their problems.
There has also been a [...]
Woolworths Shares Suspended
Woolworths shares have today been suspended whilst the company looks for a buyer. The retailer is currently in talks with a view to selling its chain of nearly 850 stores. The sticking point, it seems, is the large debts that the firm currently has, which according to reports is close to £400 million. [...]
Debt Advice On The Increase
There has been a sharp increase in the number of consumers that are seeking debt advice from specialists. This is largely due to the effects of the credit crunch, with house values falling and unemployment rising, more and more people are finding themselves in financial difficulty and speaking to debt advice companies about the [...]
Darling Under Attack
The conservative party have attacked the chancellor, Alistair Darling, over his plans to rescue the economy. The under fire chancellor has been accused of a reckless gamble with Britain’s finances by proposing tax cuts designed to encourage people to start spending again that will leave the UK with a “trillion pound” debt.
Mr George Osborne, [...]
Reduce Tax Now Says Brown
Cutting taxes now is the only way to avoid a deep and long lasting recession according to prime minister Gordon Brown. This shock move will require the government borrowing billions now to pay for the tax cuts, that will have to be repaid later in the form of tax rises or public spending cuts.
It [...]
Labours Biggest Test
Record numbers of UK consumers are now in need of debt advice or are already on debt management programmes and IVAs. Unemployment is set to rise, small businesses are failing on a daily basis and the prospect of a long, hard recession is looming. We are currently faced with the worst economic outlook [...]
Debt Problems – Repossessions Up
According to the Council of Mortgage Lenders the number of houses repossessed has increased by 12% in the third quarter of this year. There was also an 8% increase in the number of homeowners that are struggling with mortgage debt arrears. The number of court orders for repossession increased by 3% for the [...]
High Street Sales Slow
Figures released today are expected to confirm that high street sales fell again last month after a similar fall in the previous month. ONS data confirmed that sales in September fell by 0.4%, reducing annual growth to under 2% from a figure of 3.3% in August.
The boom in high street sales has largely been [...]
A Game of Monopoly?
So, once again the takeover of HBOS by Lloyds is ‘all but done’. How many times have we heard that? For weeks we have seen headlines saying the takeover has gone ahead only for a later report saying terms have yet to be agreed. Throughout the see-sawing reports I have found myself wondering whether the [...]
Another Rate Cut On The Cards
Minutes released following the recent meeting at the Bank of England, where the base rate was slashed to just 3%, have hinted that a further cut in interest rates is likely. The latest reduction, of 1.5%, brought the base rate to it’s lowest level for many years.
The committee voted for the cut, earlier this [...]
Recession Will Continue Next Year
The Bank of England have confirmed that the UK economy has now entered a recession which is likely to continue through next year. Since the onset of the credit crunch there has been a global economic downturn which has resulted in falling demand and increased unemployment. A growing number of homeowners are now [...]
Unemployment Could Reach 3 Million
With the number of consumers needing debt advice and debt help programmes on the increase, it will not come as welcome news that the recession is likely to bite harder than was first predicted and that unemployment could reach three million by 2010.
The CBI has warned that the economy could shrink by as much as [...]
Ker-Plonk!
I thought for a moment I was dreaming when I saw, amongst the reports of doom and gloom and mounting debt, a news article saying that red wine prices are falling! However, as I thirstily read on, I sadly realised that it wasn’t going to make quite the difference to me that I thought it [...]