The five founding members of the reggae band UB40 are now set to appear in court to block attempts to declare bankruptcy against them. Brian Travers, Robin Campbell, James Brown, Norman Hassan and Terence Wilson (also known as Astro) were all members of the successful West Midlands band when it formed in 1978. UB40 sold [...]
Finance News
Study reveals young people are worried about future debt problems
A recent study has revealed that children as young as 12 years old are starting to worry about money and debt problems in the future. The research, which was commissioned by the Personal Finance Education Group (PFEG) to coincide with My Money Week, questioned a total of 1,000 young people on the subjects of money [...]
8 million to use overdraft this month
According to latest figures released by insolvency professionals R3, 8 million people will not have enough money in their bank account to see the month out and will have to go into their overdraft. Alarmingly the report highlighted that a quarter of these people are set to use an unauthorised overdraft, where fees and interest [...]
Credit card debt from London Olympic 2012 tickets could take 20 years to clear
The utility and price comparison site uSwitch has warned that the credit card debt problems many people now face from spending thousands on tickets for the London Olympic Games in 2012 could take as long as 20 years to fully pay off. Although sports fans will not find out for a few weeks just what [...]
East Brent church offers budgeting lessons to help residents avoid debt problems
A church in East Brent is planning to run a series of free workshops aiming to help residents to manage their budgets and avoid debt management problems in the future. The St James Church in East Brent will be the venue for the course but is open to people of all faiths all over the [...]
Lady Gaga admits bankruptcy after extravagant Monster’s Ball tour
The controversial pop artist Lady Gaga has claimed that she ended up facing bankruptcy due to extravagant spending on sets and costumes for her lavish Monster’s Ball tour. Speaking to Stephen Fry in an exclusive interview in the Financial Times recently, Lady Gaga revealed that she spent nearly £2 million on outfits alone for the [...]
Debt management firms warned by OFT
The Office of Fair Trading (OFT) has warned some rogue debt management firms that they will revoke their licenses if they continue to operate outside the industry guidelines and continue to withhold cash from creditors. The comments are in response to an investigation by the BBC, which alleges that someunscrupulous operators within the debt management [...]
Brits worry about debt problems for 36 mins a day
A new survey has revealed that on average, British people spend around 36 minutes a day worrying about everything from debt management problems and job security to weight gain. The survey of 2,000 people (aged between 18 and 65) was conducted by the Everyman Campaign, an organisation set up by the Institute of Cancer Research [...]
Former Tyneside scaffolding boss declares bankruptcy
The former owner of a scaffolding firm in South Tyneside has reportedly filed for bankruptcy after finding himself with debt problems of more than £1.3 million. James Robertson, 44, formerly owned Robertson Scaffolding in Hebburn, but his business has now been dissolved following financial problems and a contractual dispute with South Tyneside Homes. The scaffolding [...]
Former owners of bankrupt camera shop held liable for business debt
A couple from Lerwick in Scotland have spoken out about their struggle with debt problems and bankruptcy after their camera shop closed down and they found themselves personally liable for its business debts. Cecil and Sheila Hughson previously owned The Camera Centre in Lerwick before it shut down last month due to dwindling business and [...]
