The national charity known as the Money Advice Trust has warned that hundreds of thousands of people in the UK could be struggling with debt problems as a near direct result of unemployment. Researchers found that as many as 185,000 people are struggling with debt problems and money worries in the current economic climate. Even [...]
Debt Management News
New research identifies young people at risk from debt problems
A new study commissioned by the Consumer Credit Counselling Service (CCCS) has found that in general, young British people are experiencing greater debt problems than before but are unable to build up assets as successfully as previous generations. The report, which was entitled ‘The Debt and Generations Report’ and was produced by the think-tank known [...]
Debt problems caused worker to steal £184,000 from firm
A woman from Darlington has been jailed for 21 months after she was caught stealing from her employer. Patricia Rose Parrott stole a total of £184,000 from the firm she worked for, Teesside Fluid Systems, over a period of five years. The 58-year-old’s reason for doing so was apparently mounting debt problems, which she had [...]
Risk of debt problems as 1 in 10 households can’t afford monthly costs
A recent survey has found that an average of one in ten households in the UK can’t actually afford their monthly living costs, which could leave them at risk of experiencing debt problems. Researchers from Lloyds bank conducted a survey of its current account customers, to work out how much they were spending each month [...]
Kerry Katona branded “bankruptcy role model”
The reality TV star Kerry Katona has been branded a “bankruptcy role model” by personal finance experts concerned about the amount of women facing debt problems at present. Earlier this month, the accountancy and advisory firm RSM Tenon published figures showing that female bankruptcy figures for women aged 18 to 35 have overtaken those of [...]
Brits worried about debt problems face biggest income squeeze since WWII
A new piece of research has concluded that British people are facing the biggest squeeze on their household incomes since World War II. Furthermore, the decline in standards of living is expected to continue until at least 2013. This could mean that many people are left facing mounting debt problems as the cost of living [...]
Worries about homelessness and debt problems mount in Oxford
According to the Citizen’s Advice Bureau (CAB) in Oxford, the number of people who are worried about debt problems, repossessions and homelessness in the region have increased dramatically this year. The data gathered by the charity shows that there were 230 more enquiries in the first three months of the financial year compared to the [...]
Bankruptcy figures in NI rose by 69 per cent since recession began
According to the latest figures, one person in the Dungannon district of Northern Ireland starts bankruptcy proceedings and two people face their homes being repossessed every week. Also included in the government-released figures is the statistic that shows that since the start of the recession back in 2007, bankruptcy rates in Dungannon, the third largest [...]
Debt management warning issued over holiday loans
The insolvency professionals’ body R3 has issued a serious warning to anyone considering taking out a personal loan to pay for a holiday this year, saying that debt management problems could soon follow. Research undertaken by R3 shows that as many as 1.8 million people borrowed money to fund a trip, getaway or summer holiday [...]
Company owners taking on personal debt problems to stay in business
Business owners are increasingly taking on personal debt problems in order to keep their companies viable, according to new figures. The Centre for Economic and Business Research (CEBR) conducted a survey recently in which 47 per cent of respondents admitted that they were forced to use their own cash to keep themselves in business this [...]
