The financial services sector is constantly changing, here at Delta Debt Management, we want those changes to be transparent… so that you can better understand how to help yourself. This page will be updated regularly with the changes that we believe are appropriate for you to read.
IVA & Debt Management advice
Delta Debt Management News
IVA numbers rise as personal insolvencies hit record levels
IVA’s accounted for a large proportion of the 132,142 people who were declared insolvent this year according to figures released today by The Insolvency Service.
50% of this figure declared bankrupt, however, 50% managed to to avoid this by signing onto an Individual Voluntary Arrangement (IVA) or a Debt Relief Order. The overall amount increased by 26% on last years figures to a record high.
IVA’s are a way to avoid bankruptcy and clear your debt in a more controlled way with less impact on your credit rating. The Debt People are IVA advice specialists and have help many people arrange an IVA every year.
Corporate and Business Insolvency
The number of companies liquidated has fallen in the last three months of 2009 to 4,566. This is a fall of 1.7 per cent against the previous quarter and down 1.1 per cent year on year.
This shows that the country has signs of a recovery beginning, however, there are a large number of businesses who may have been saved by HM Revenue & Customs’s “time to pay” scheme, which has enabled struggling companies to defer more than £4 billion of PAYE tax and national insurance liabilities.
British Gas price cut could help ease IVA and Debt Management worries
News that British Gas is to cut its prices could help ease the pressure on financially strapped consumers that are relying on IVA help or a Debt Management Plan as a way to get out of debt. The recession has taken its toll financially, and the bitter winter has left many people struggling to [...]
IVA and Debt Management worries as borrowing on the increase
Debt Management and IVA help providers are concerned at reports that UK consumers are retuning to their old ways when it comes to spending money on plastic. New UK borrowing on personal loans, overdrafts and credit cards has overtaken the amount being paid off by consumers for the first time in six months, sparking [...]
IVA and Debt Management firms concern over energy bills
Concern has been raised by IVA and debt management companies as news emerged that homeowners face record heating bills. Figures have shown that energy firms are profiting from the coldest winter for 30 years. IVA advice specialists are worried that the spiraling costs of gas and electricity could force more consumers into financial [...]
Brits may need IVA help after failing to put savings aside
More and more British people may need to consider an IVA or Debt Management Plan as Research has revealed that the average person only has about £2,000 saved up.
Reports from ING have claimed that as little as £40 has been put away during 2009 and that the average saving is £2,000.
This is just over [...]
IVA: Do all my creditors have to agree to the terms?
If you owe more money than you can afford to repay and you’re wondering whether an IVA (Individual Voluntary Arrangement) is the best way for you to clear your debts, you probably have a few questions you’d like answered. Of course, an IP (Insolvency Practitioner) would be able to answer your questions, but some questions [...]
Joanne of Sale
Joanne left University with Student Loans but decided that she would work hard straight away and pay them off. She managed to do so and so she had no real fear of debt.
Free from the burden of student loans she applied for a credit card. This came through no problem at all. [...]
Irene of Preston
Irene had no real idea of how much her house cost to run. All financial matters had been taken care of by her late husband. On her own she not only had to cope emotionally but now she had to try and run her home on her own.
Irene realised quickly that she [...]
Mike of Northwich
Mike had a great job and was earning a large salary. He set his life out according to how much he was earning. He built up substantial debts on loans and credit cards and none of these caused him any great concern. After all, why should they when he was taking home [...]
£2,400 each to solve nation's debt management problems
Each and every family in Britain will have to pay £2,400 to help cut the debt problems caused by the nation’s huge deficit.
This figure highlights the true extent of the financial pain that families across the land will have to face, according to the Institute of Fiscal Studies (IFS).
The think-tank predicts that even families from [...]
Three in four parents risk developing debt problems this Christmas
Three quarters of families are at risk of developing debt management problems as research shows they are set to spend more money than they can afford on keeping children entertained over Christmas.
The additional cost of keeping children entertained over the festive season means that more than three in four parents (77 per cent) admit that [...]
Consumers continue to ease debt management problems
Consumers have continued to repay their debts at a record level throughout October, as they continued to focus on paying down existing debts rather than taking out additional loans.
During October, people managed to repay their unsecured balances – such as overdrafts, personal loans and credit card debts – by £579m, the largest contraction since 1993 [...]
IVA and Debt Management for businesses
A major part of businessmen have hard times in the years of setting up their own business. They are trying too many things to find a secure position from that the further progress is possible in a competitive business world. That is why so often entrepreneurs borrow money and take advantages of a good credit, [...]
Debt Management worries ease as consumer borrowing falls
Debt Management providers have welcomed the news that consumer borrowing has recorded its biggest fall since Bank of England records began some 16 years ago. There has been a large increase in the number of people struggling with debt problems, and having to seek financial advice to improve their situation.
Consumers have been turning to [...]
Debt management and IVA providers worry as jobless on increase
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 [...]