Consumer confidence dropped in June, according to the latest surveys, as people worried about the effects of rising inflation, low wage increases on their finances, and existing debt management problems.
According to this month’s GfK NOP consumer confidence survey, the index for consumer confidence fell by around four points to -25. This reading is believed to [...]
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Monthly Archives: June 2011
Consumer confidence dropped in June amid debt concerns
1.2m people could face debt problems due to HMRC tax error
As many as 1.2 million people could be facing debt problems as HM Revenue and Customs (HMRC) reveals that there have been errors with the Pay As You Earn (PAYE) tax system.
An internal audit into the PAYE system has uncovered a long list of wrong payments, with as many as five million people having paid [...]
Debt problems increase as home repossessions set to surge
There could be debt problems for thousands of homeowners after a leading bank chief warned that a surge in the number of home repossessions would follow if the base rate of interest increases.
Richard Banks, Chief Executive Officer of UK Asset Resolution, the government company that manages the £80 billion mortgage portfolio of the bailed out [...]
Quarter of Bridlington residents facing debt problems due to ‘fuel poverty’
According to a recent report, up to one in four households in Bridlington are facing debt management problems due to ‘fuel poverty’.
The East Riding Council committee commissioned a report which found that across the region, 18 per cent of households are suffering from fuel poverty, which is greater than the national average of 16 per [...]
Princess Diana’s dresses under the hammer as owner faces bankruptcy
Iconic dresses worn by the late Princess Diana, at pivotal moments in life, are to be sold at auction after the American businesswoman who owned them filed for bankruptcy.
Maureen Rorech Dunkel, a 50-year-old businesswoman based in Tampa, Florida, bought fourteen of Diana’s gowns at Christie’s in June 1997, just months before the tragic car [...]
Debt problems causing increased stress for British consumers
A recent poll conducted by Scottish Provident has found that people with the greatest debt problems and money worries are suffering from more stress than the average British person.
In the survey, a total of 37 per cent of UK adults said that they would describe themselves as either “stressed” or “very stressed”. However, this situation [...]
World’s richest divorcee Patricia Kluge files for bankruptcy
Patricia Kluge, who was once known as “the wealthiest divorcee in history,” has filed for personal bankruptcy according to the New York Post.
The newspaper reported that British-born Kluge, 62, has filed for bankruptcy despite receiving a reported divorce settlement of $1 billion when her marriage to media mogul John Kluge ended in 1990. Also included [...]
Worrying debt management problems reported in Worcester
The Consumer Credit Counselling Service (CCCS) has released figures which show that hundreds of people in Worcester are in serious need of debt help, with the average person owing nearly £20,000 in 2010.
The debt problems in Worcester were highlighted after the CCCS came across records showing that a total of 396 people from the city [...]
Former US TV star Larry Wilcox completes debt management course
Larry Wilcox, the former star of US TV show CHiPs, has this week completed a finance and debt management course as part of his bankruptcy agreement.
Wilcox is best known for his starring role on the American television action drama series CHiPs, which ran from September 1977 to June 1983. He played Officer Jon Baker alongside [...]
Neil Morrissey speaks out about debt problems
The British TV actor Neil Morrissey has spoken out to the press this week about the financial pressure he found himself under when his business collapsed. At one point, the former Men Behaving Badly star was believed to have debt problems totalling £2.5 million.
Speaking to the Daily Mirror, Morrissey explained how the hotel and pub [...]
Thurrock Council’s Fair Debt Policy criticised again
Just months after consumer watchdogs criticised debt recovery practices in a number of councils up and down the UK, Thurrock Council’s Fair Debt Policy has been sent back for further scrutiny after it was found to be not up to scratch.
The Essex-based council was forced to defend itself last April after the Thurrock Citizens Advice [...]
Hertfordshire man charged with setting up firms during bankruptcy
A man from Ware in Hertfordshire has narrowly avoided a jail sentence after he was caught setting up firms during his bankruptcy period.
Matthew Gilewicz, 40, was accused of launching a series of business ventures even though he was an undischarged bankrupt. His actions are believed to have cost investors in these ventures more than £100,000.
St [...]
Elderly mother seeks debt help to afford son’s care
An elderly woman from Fleet Hargate, Leicestershire, is reportedly seeking debt help in order to pay for care for her two sons, both of whom have Huntington’s Disease.
According to a report published in the Spalding Guardian, 70-year-old Christine Collins has sought debt help from Lincolnshire County Council in order to cover the costs of the [...]
Physiotherapy con-artist’s victims won’t be paid back due to bankruptcy
The victims of Hampshire con-woman Tina Roberts, who pretended to be a physiotherapist to extort £1 million from her clients, have learned that they won’t get their money back as she has gone bankrupt.
Roberts, 32, spent years pretending to be a physiotherapist, spinning a web of deceit in order to earn more than £1 million [...]
Third of pensioners with £25,000 debts
A new studies has revealed that pensioners have been one of the hardest hit by the financial downturn, as one in three people over 65 head into retirement with average debts of £25,000.
This age group have also seen their household finances hit by lower than expected returns on pensions and investments (as the interest rate [...]