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| That easy debt might be a loan of contention |
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Reckless Christmas spending will be responsible for a third of all bankruptcies in the first quarter of this year, according to estimates last week by accountants Grant Thornton.
But while 28,000 people will declare themselves bankrupt or take out an individual voluntary arrangement... read on... |
| How to avoid drowning in a sea of debt |
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If a Christmas spending binge has sent you into the red, you will need to take action now. Myra Butterworth explains how to keep the bailiffs at bay.
A record 120,000 people will go bust this year as their borrowing becomes unmanageable following excessive spending at Christmas.
The latest predictions... read on... |
| Church launches new debt campaign |
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The Church of England has launched a campaign to advise people in debt.
It includes a post-Christmas "debt check", with ten points which act as warning signs that people may be spending more than they can afford... read on... |
| Warning over 1 million homes at risk |
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More than a million homeowners could be at risk of serious financial difficulty and possibly losing their homes in an economic slowdown, the City regulator warned yesterday.
The Financial Services Authority is preparing for a tougher climate of rising inflation and a slower economy. It fears that many homeowners with large mortgages who have borrowed three and a half... read on... |
| Family finances 'being squeezed' |
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Family finances are being hit as bills and taxes rise faster than incomes, a centre-right think tank warns.
The Centre for Policy Studies says the average household pays £7,800 a year more tax than when Labour took power... read on... |
| Over 100k went bust last year |
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THE number of people going insolvent is still hitting record levels – and is expected to get worse.
The Government’s Insolvency Service today revealed 106,645 people were either declared bankrupt or took out an Individual Voluntary Arrangement (IVA) last year.
The figure is marginally... read on... |
| Experts say grim year ahead for insolvencies |
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The number of people becoming insolvent unexpectedly dropped last year for the first time in nine years but experts warned 2008 was likely to set another record high as debt problems mount.
Government figures showed that personal insolvencies in England and Wales fell 4% in the final quarter of 2007... read on... |
| Lenders predict repossession rise |
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Four fifths of mortgage lenders believe that repossessions will rise this year, according to a survey.
Two fifths expect a rise of between 10 and 15% and 8% predict a rise of more than 15%, the repossession lawyers Moore Blatch found. The lenders surveyed account for 40%... read on... |
| Home repossessions rise to 27,000 |
The number of people whose homes were repossessed last year has risen by 21%.
The Council of Mortgage Lenders said 27,100 homes, the highest figure since 1999, were taken over by lenders... read on... |
| Banks 'cancel good payers' cards' |
Banks may be taking cards from reliable customers and giving them to riskier ones instead in order to boost their profits, a senior MP has suggested.
The chairman of the treasury select committee, John McFall, said companies might be... read on... |
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