One of the founding members of the Birmingham reggae band UB40 has escaped bankruptcy, even whilst the rest of the band has gone bust. Robin Campbell, who was the guitarist with the successful music group, didn’t need to apply for a free debt relief order he has managed to strike a deal with his creditors [...]
Debt Management News
No need to apply for debt relief order; TLC singer files for bankruptcy
apply debt relief order T-Boz, the former lead singer with the successful all-female musical group TLC has reportedly filed for bankruptcy after her debt problems became too much to manage. The singer, whose real name is Tionne Watkins, had considered to apply for a debt relief order but now is believed to have filed documents [...]
One in four people with debt problems need a financial debt management plan
According to a recent survey by the Institute of Financial Planning, as many as one in four British people are not setting themselves a clear budget they need to stick to each month and most would benefit from a debt management plan. The Consumer Credit Counselling Service (CCCS) has warned that failing to have a [...]
Wesley Snipes sued by American Express over credit card debt management issues
The actor Wesley Snipes is reportedly facing a lawsuit from the credit card company American Express over claims that he racked up $30,000 in credit card debt and failed to pay it off. Snipes, 49, is currently serving a prison sentence over his debt problems with the Internal Revenue Service (IRS), which pursued the Blade [...]
Sunderland charity warned of Christmas debt problems
A debt help charity in Sunderland issued a stark warning pre-Christmas warning of debt problems, urging local people not to rely on credit to do their Christmas shopping as they may face huge debt management problems in the new year. Centre manager of the Christians Against Poverty service in Sunderland, Fred Finch, urged to people [...]
Stoke council tenants rack up £3.6m in rent arrears and many could benefit from debt help
Stoke-on-Trent City Council has revealed that nearly 1,000 of its tenants would really benefit from debt help have racked up between them rent debt problems of more than £3.6 million. According to the council’s figures, a total of 9,521 tenants have rent arrears on council-owned houses. A total of £1.8 million is owed by 5,667 [...]
Half of UK could face retirement debt management issues by not saving for pension
New research has revealed that around half of the UK’s population could be facing debt management issues in their retirement, as they aren’t saving enough money towards their pensions. YouGov conducted the research on behalf of the Institute of Financial Planning (IFP), and timed it to coincide with Financial Planning Week (21st – 25th November). [...]
Irish mortgage debt problems increase
According to the latest figures, one in six households in Ireland is struggling with mortgage debt problems. The Central Bank of Ireland has released data which shows that the number of mortgages which are currently in arrears of more than 90 days was 62,970 in September this year. This is a significant increase compared to [...]
Families requiring debt consolidation by loaning friends and family money
A recent survey by Aviva has revealed not only that UK families have unsecured debt problems averaging around £10,604 per household, but also that many families are risking further need for debt consolidation and financial strife by giving or lending money to hard-up friends and relatives. According to the survey, around 31 per cent of [...]
Expenses scandal MP won’t pay legal aid due to debt advice pre-bankruptcy
Scottish MP Jim Devine, who was found guilty of fiddling his expenses claims whilst in office and jailed for 16 months, has been told that he doesn’t have to pay back the thousands of pounds he was given in legal aid due to debt advice received prior to he becoming bankrupt. At a hearing at [...]
Unemployement for UK youngsters hits 1 million and debt management advice demands increase
Concerns that young people may be facing increased debt problems have intensified recently as it was revealed that there are now over one million unemployed youths living in Britain and the requirement for debt management advice increases. According to official figures released by the Office of National Statistics (ONS), around one in five people aged [...]
People who have been through a debt management plan or bankruptcy need better bank account access
According to the Government’s Business Minister Edward Davey, people who have been through a debt management plan or bankruptcy proceedings now need better access to bank accounts to allow them to make a fresh financial start. Mr Davey described a bank account as an “essential stepping stone” for bankrupt people, saying: “Without access to a [...]
Pub manager spared jail for £7k theft after admitting bankruptcy
The former manager of a pub in Leeds has been spared a prison sentence after he was caught stealing more than £7,000 from the business. Brian Leeming admitted stealing the money from the Commercial Hotel pub over a period of time, but said that he only did so because of mounting debt problems. It also [...]
York woman finally decided to seek debt management companies for advice
A woman from York has spoken to a local newspaper about the moment she and her husband finally decided to seek debt management companies for advice when family’s debt problems reached £25,000. Tess Sharratt, 30 from Acomb, spoke to the York Press about how debt problems began to take over her life after the family [...]
Over one million UK families borrowed money for Christmas 2011 and need debt advice
A new survey has suggested as many as 1.6 million families in the UK could not afford the cost of Christmas 2011 to cover the purchase of presents, food, decoration and celebrations without having to borrow money. Now these families are in financially difficult positions and most require dept advice. The research, carried out by [...]