Unemployment in the UK will continue to rise, Alistair Darling warned yesterday. In a break from normal procedures, where chancellors resist the temptation to predict future jobless figures, the Mr Darling told MPs that “unfortunately it will continue to rise for a while“. The announcement has caused concern amongst IVA and Debt Management [...]
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Monthly Archives: November 2009
Share prices fall due to Dubai debt problems
Debt problems are nothing new to us in these times, however, there are new concerns in the stock markets across Europe courtesy of Dubai.
Dubai is a country associated with extreme wealth due to oil and hyper-tourism, but in recent times, many of the luxurious properties built by state-owned companies such as Dubai World have struggled [...]
Debt management misery as banks win at Supreme Court
The ongoing saga of reclaiming bank charges, levied on unauthorised overdrafts for poor debt management, has been dealt a cruel blow today in the Supreme Court.
Earlier rulings in favour of the Office of Fair Trading’s investigation into the unfairness of unauthorised overdraft fees, have been overturned by a Supreme Court judgement.
The case at stake, which [...]
Debt advice needed for lower earners
The government should provide more debt advice for lower earners according to a report from a leading charity.
The study, by the Institute of Employment Rights (IER), suggests that people on low wages are currently suffering financially because of the way the complex tax system operates and that they are also suffering most from the economic [...]
2,000 More Jobs to go at Threshers
381 local off-licences operated by Threshers Group will be closed it has been announced. Threshers is owned by First Quench which went into administration on the 29th October this year because of the combination of reduced sales through the credit crunch, but primarily the affect of supermarket giants like ASDA, TESCO and Sainsburys pricing them [...]
Highest fuel prices causing debt management problems
Fuel prices are the most expensive they have been for a year, causing debt management worries for many people.
Following supermarkets raising their prices, the cost of petrol and diesel is now as high (if not higher) than oil giants such as Shell and Esso.
For the first time in over a year the average cost of [...]
Hard-up hardman needs debt advice
Ex footballing hardman, Vinnie Jones alledgedly is in need of some sound debt advice, after it was revealed that his company – Vinnie Jones Enterprises Limited – has been put into liquidation, as a result of unpaid taxes totalling £128,321 going back to 2006.
A team of chartered accountants have been appointed to handle the liquidation [...]
More debt advice needed as repossessions rise by 3%
Debt advice was desperately needed during the third quarter of 2009 as the number of repossessions rose compared to last year, according to figures released by the Council of Mortgage Lenders (CML).
During the three months from July to Septemeber, the number of homes repossessed increased by 3% on last year’s figures during the same period.
The [...]
Avoiding debt problems this Christmas
With Christmas approaching faster than a speeding train, almost five million people are still trying to get out of debts that they ran up last year.
More worrying is the news that around three quarters of Brits are short of money to pay for this year’s festivities, so could be walking into a further £8billion hangover.
The [...]
Debt management worries drive down car usage
Drivers worried about their debt management issues are actively seeking ways to drive more efficiently and lower motoring costs a study has announced today.
According to figures released by the RAC, motorists are cutting back on their driving costs by using their vehicles less, opting for smaller cars and running just one car per family.
These cut [...]
Even super-rich suffering with debt management issues
An incredible image of a pawnbroker wearing six Rolex watches, in front of sports cars and an aeroplane pawned by businessmen with debt management problems has stunned many Daily Mail readers.
The photo on the newspaper’s website, features two Ferraris, a Porsche and a French two-seater Cap 10 stunt plane which illustrates how widespread the recession [...]
Baywatch star reveals debt management problems
Baywatch babe Pamela Anderson has revealed on TV that she has recently experienced debt management issues.
The American star confessed that she had failed to keep abreast of her financial affairs and had suffered in the recession as a result of a string of investments turning sour.
Anderson, who is infamous for blowing thousands (on her plastic), [...]
Online insolvency speeds up bankruptcy decisions
Decisions on debt management problems looks set to be made quicker, after the government announced proposals to allow bankruptcy declarations online.
If accepted, the suggested changes could mean that decisions on insolvency are made in days rather than weeks.
These proposals were announced to limit the amount of further debt acquired whilst waiting for a decision, after [...]
Debt management of low paid increases homelessness risk
The way how many low paid households handle their debt management is leaving them at an increased risk of homelessness, according to a leading thinktank.
Findings from the Resolution Foundation have shown that around a quarter of the 14.3 million households receiving low pay, are in danger of being sucked into poverty.
The research found that 24% [...]
Debt management problems rise with fuel bills
Britain should prepare for even more debt management problems, as fuel costs look set to go through the roof over coming years.
According to Britain’s energy regulator Ofgem, the crisis with Russian gas supplies will mean prices are likely to increase.
Ofgem boss, Alistair Buchanan, said that over the next few years the Russian crisis with gas [...]