Tag Archives: bankruptcy

April’s debt and money news

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April’s debt and money news has an ongoing theme of change. With changes to benefits, the way you apply for bankruptcy and the National Living Wage being introduced for those over 25, it’s all happening.

We’ve also got highlights from two of our recently released reports that give us an insight into problem debt in the UK.

That’s not all, it also turns out that we’re still confused by our energy bills and find out why 50 Cent is in trouble yet again with the judge dealing with his bankruptcy…

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Know your rights: July’s debt news

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We’ve had Wimbledon, a short heat wave and plenty of drizzle, so it’s safe to say that summer has properly begun. What better way to enjoy the longer evenings and warmer rain than to kick back and enjoy the latest edition of debt and money news?

We’ve scoured the web for all the latest news on debt and money, so you don’t have to. Find out the latest on phoning 0800 numbers from your mobile, banks using jargon, soaring rents, payday loan complaints and much more. Well, a bit more.

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April’s top debt and money news stories

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Know your rights

April 2015 debt news

As the new tax year begins, we’ve seen the introduction of large-scale pension changes that have a wide-ranging impact for many people, including our clients.

April has also seen the introduction of a new type of debt solution in Scotland to help people with lower incomes who are struggling with their debts. In other news, caps on hefty bills caused by unauthorised calls are set to be limited by mobile phone companies and the UK’s largest payday loan company Wonga has announced a significant profit loss and is considering a change of name.

And finally, find out how one restaurant owner’s act of kindness went viral on social media!

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5 famous bankrupts from history

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Even the great Walt Disney had to deal with debt problems!

Even the great Walt Disney had to deal with debt problems!

As you’ve no doubt heard us say so many times, debt problems can happen to anyone no matter what their income, social status or approach to money. Little surprise then that history is riddled with people who were plagued by money worries.

Bankruptcy has long held a stigma that persists to this day despite it often being the best solution available to a person in debt. Several modern day celebrities have had to call in the official receiver when their debts got out of hand, but this list of famous names from yesteryear might surprise you…

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IVA versus bankruptcy – which form of insolvency is best for me?

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UPDATE: the bankruptcy application process for people living in England, Wales and Northern Ireland is changing in 2016. Visit our bankruptcy changes page for more information

This page contains information about debt solutions available in England, Wales and Northern Ireland. Debt advice in Scotland involves similar but different solutions. Before considering an IVA as a debt solution, please make sure you fully understand the risks involved. More information can be found on our website

Working it all out

Working it all out

With some financial situations you may have more than one option for resolving your debt. We’ve all heard of personal bankruptcy and many of us have now heard of an individual voluntary arrangement or IVA.

They’re both forms of insolvency and in some situations it can be a choice between these two debt solutions. But, what you really want to know is this: which is best for you?

Well, both solutions will get you debt free, we regularly recommend both solutions and support those clients through their IVA or bankruptcy. It really comes down to your individual circumstances and what the best advice is.

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The truth about debt avoidance

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This page contains information about debt solutions available in England, Wales and Northern Ireland. Debt advice in Scotland involves similar but different solutions. Before considering an IVA as a debt solution, please make sure you fully understand the risks involved when entering an IVA.

man on beach with suitcase

Run away to Spain? Doesn’t make a difference

Our ethos as a charity is to help the ‘can’t pays’ rather than the ‘won’t pays’. This may be a surprise to some, but we rarely come across ‘won’t pays’. Indeed most people who suffer with debt problems have lots of things in common, one of them being that they want to repay the money but can’t.

However, every now and again we come across people who have – usually by taking the wrong advice (“my mate down the pub told me…”) – got it into their heads that they can get away without paying.

They usually only come to us for help when this advice has suddenly backfired in some way; we help by setting them on the right track. Sometimes this is a bit of a jolt for those who’ve been under the misguided impression that they ‘knew’ of a way to avoid debt.

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Can I get my creditors to freeze interest and charges?

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Interest and charges can quickly add up

Interest and charges can quickly add up

No debt management provider can guarantee that they will stop interest and charges.

The only way you can be 100% assured that you won’t get further charged is if you opt for a legally binding debt solution, such as bankruptcy, IVA (individual voluntary arrangement) or a DRO (debt relief order). Continue reading »

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