debt management

Debt Management Review: Mrs K Jones, Brighton, 05.08.11

“I would like to say a big thank you for all the help I’ve received regarding my debt.

You will not believe the weight that has been lifted for my shoulders knowing someone else is in control helping me to clear debt and pay it off. I don’t have to worry when I get phone calls or letters from companies demanding payment.

I am now finally in control of my finances and I don’t have to worry about being able to pay my monthly bills.”

PLEASE NOTE
All our testimonials are completely genuine – you could even make an appointment to come to our offices to see them if you like! We do, however, hide the identity of our clients on our website for legal and privacy reasons.

Posted by Sam in Testimonials on February 19th, 2012 , tagged with Best Debt Management Company, Chiltern Debt Management Reviews, credit card debt, debt, debt advice, debt companies, debt consolidation, debt consolidation uk, debt help, debt management, debt management plan, Debt Management Plan Reviews, debt management plans, Debt Management Review, debt management reviews, debt problems, debt solutions, get out of debt.

Debt Management Review: Mrs E Polley, Bolton, 23.07.11

“After seeing an advert in the newspaper it made it sound easy and it was.

Since speaking to this company I haven’t had to worry about my creditors at all because they organised everything and now take an agreed sum of money each month to pay my creditors and reducing debt.

I was surprised at the ease in which they dealt with my creditors and debts and took a considerable amount of worry from me.”

Posted by Sam in Testimonials on February 18th, 2012 , tagged with Best Debt Management Company, Chiltern Debt Management Reviews, debt advice, debt consolidation uk, debt help, debt management, debt management companies, Debt Management Plan Reviews, debt management plans, debt management program, debt management programmes, Debt Management Review, debt management reviews, debt problems, free debt management advice, help with debt management.

Debt Management Review: Mr C Lucas, Leeds 02.08.11

“The company and staff are very understanding and gave good advice on how to start reducing debts.

I did not have to speak directly to my creditors as this company did all the negotiating on my behalf; this was good as previously I had felt pressured by my creditors.

I would definitely recommend this company because they work on existing debts rather than offering huge loans, also the staff are really helpful and understanding.”

Posted by Sam in Testimonials on February 17th, 2012 , tagged with Best Debt Management Company, Chiltern Debt Management Reviews, debt advice, debt consolidation uk, debt help, debt management, debt management companies, Debt Management Plan Reviews, debt management plans, debt management program, debt management programmes, Debt Management Review, debt management reviews, debt problems, free debt management advice, help with debt management.

UB40’s Robin Campbell avoids bankruptcy and does not enter a debt management plan

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 debt management plan as he has managed to strike a deal with his creditors over his debt problems, so he won’t be forced into bankruptcy.

Meanwhile, five of the other UB40 members – sax player Brian Travers, trumpeter Terence Oswald, drummer Jimmy Brown, percussionist Norman Hassan and lead singer Ali Campbell – have completed bankruptcy proceedings. They are now being pursued by creditors over debt problems thought to exceed £750,000.

The seventh member of the band, Mickey Virtue, has never been part of the bankruptcy case, contrary to a number of inaccurate reports. Mark Sands, a spokesperson for RSM Tenon, which is the financial firm handling the UB40 bankruptcy case, said:

“Robin and Mickey are not bankrupt,

“I understand Robin has done some sort of deal as part of the proceedings, so no longer owes any money. This could be something like re-mortgaging his house.

“Mickey is different, he has never been involved from the outset.”

Despite being a world famous reggae group and selling 70 million records over three decades, UB40 faced financial troubles every since their management company, DEP International, started to collapse in 2006. It finally went into insolvent liquidation in 2008, and the members of UB40 soon started to suffer financially. Ali Campbell was declared bankrupt first, in June 2011, and was soon followed by Brian, Terence, Norman and Jimmy in September 2011.

Posted by Sam in debt advice, Debt Management News on February 5th, 2012 , tagged with clear my debts, combine your debts, consolidate my debt consolidating debt, debt advice, debt help direct, debt management, debt management companies, debt management plan, debt management plans, help with debt management, managing debt.

TLC singer didn’t choose debt management but filed for bankruptcy

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 applying for debt management but now is believed to have filed documents at the U.S. Bankruptcy Court last month, according to the entertainment website TMZ. Watkins is said to have debt management problems in excess of $760,000, which she owes on mortgages on her $1.2 million house as well as to other creditors.

The legal documents do not show that the 41-year-old has spent excessively, as monthly income is shown as $11,700 whilst outgoings stand at $8,821 a month. Nonetheless, the singer clearly feels that she is unable to keep up with her mortgage payments and that bankruptcy is the only available option.

As a musical group, TLC had numerous successes, including four multi-platinum albums and four number one singles. The band also won four Grammy Awards. Despite this success, however, T-Boz is understood to only receive around $1,200 per month in royalties.

The singer has also struggled with health problems, including hereditary sickle cell anaemia and a recent brain tumour, throughout her life, the cost of which could have contributed to her debt problems.

The singer also claims that she could have avoided having to file for bankruptcy if she was paid the child support she was owed for the care of her daughter, Chase Anela Rolison, which is said to total $250,000 by now.

Posted by Sam in Debt Consolidation, Debt help, Debt Management News on February 4th, 2012 , tagged with debt management, debt management companies, debt management help, debt management plan, debt management program, debt relief order application, financial debt advice, free debt management advice, managing debt.

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 financial plan could lead to serious debt problems, especially if you are struggling to make ends meet already. This debt could soon become unmanageable, especially as wage growth is slow, inflation is increasing and unemployment is also rising.

All of these factors could make 2012 a very difficult year for many families, particularly the 6.2 million households which the CCCS identified as “financially vulnerable” in its recent Debt and Household Incomes report.

The charity’s director of external affairs, Delroy Corinaldi, said:

“It’s never too late to put your finances in order. Setting a clear budget now is the best way to help withstand the financial headwinds in 2012 and beyond, and will leave you in a far better position to cope with any difficulties you may face in the future.”

In another survey carried out by YouGov recently, it was revealed that 29 per cent of people think their best hope of improving their financial situation and clearing debt problems is to win the lottery. Financial experts warn that it is incredibly foolish to leave your financial future to chance in this way, especially as the odds of actually winning the lottery jackpot are around 1 in 14 million.

Posted by Sam in Debt Management News on February 3rd, 2012 , tagged with debt, debt advice, debt consolidation, debt help, debt help uk, debt management, debt management companies, debt management plan, debt management problems, debt management program, debt managers, debt problems, debt solution, debt solutions, how to clear debt.

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 Runner star over millions of pounds in unpaid taxes.
Lawyers working for the actor employed a number of tactics to keep him out of prison, including the invocation of something called the “861 argument”. This theorises that some parts of US residents’ domestic income isn’t taxable, and Snipes claimed he was a “non-resident alien”.

This and other attempts failed, however, and in December 2010, Snipes was handed a three-year jail sentence for tax evasion and other related fraud charges. He is currently serving his sentence in the McKean Federal Correction Institution in Pennsylvania.

It now looks as if Snipes’ debt management problems will continue once he comes out of prison in 2013, or possible before his release, as American Express has filed a lawsuit against him over an alleged $29,343 credit card bill which he has yet to pay. The company is not only seeking to recover the amount Snipes ran up before entering prison, but also the interest on the debt and the legal costs it has incurred in taking the case to court.

Legal representatives for Snipes have not yet commented on the lawsuit.

Posted by Sam in Debt Management News on February 2nd, 2012 , tagged with credit card debt, debt, debt advice, debt consolidation, debt help, debt help uk, debt management, debt management companies, debt management plan, debt management problems, debt management program, debt managers, debt problems, debt solution, debt solutions, how to clear debt.

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 plan a clear strategy for their festive shopping and to follow it. He said:

“These are difficult times for a lot of us and the temptation is to say, ‘at least we’ll have a great Christmas’ and use that as an excuse to spend what we haven’t got.

“If you’ve already caught yourself saying this, we want your alarm bells to be ringing loud and clear.

“Over indulging on presents for everyone in a mile radius is no longer in fashion.

“Most of us have seen our income squeezed significantly and will be scaling back so we must not feel the pressure to over consume.”

Mr Finch went on to say that nearly half of those who had sought debt help recently had taken out a personal loan to cover Christmas costs. The charity’s statistics also showed that many of those went on to develop even more pressing debt problems, and some even lost their homes, faced mental health problems and the occasional person even considered suicide.

Mr Finch made it clear that spending more than you can afford to have a “nice” Christmas is simply not worth it if these sort of spiralling problems are the consequence.

Posted by Sam in Debt help, Debt Management News, Managing Debt on February 2nd, 2012 , tagged with debt advice, debt consolidation, debt help, debt help uk, debt management, debt management companies, debt management plan, debt management problems, debt management program, debt managers, debt problems, debt solution, debt solutions, how to clear debt.

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 current residents, whilst 3,854 former residents owe a further £1.8 million. This means that on average per household, current tenants have rent debt problems of £318 each, whilst former tenants owe £467 each.

These figures are also a huge increase from a few years ago in 2006-2007, when the total amount of rent owed to the council was just £1.6 million.

The local authority itself is already strapped for cash, which has led to the launch of a new savings programme in which the council hopes to claw back £24 million by shutting care homes, cutting jobs and increasing council tax.

The council, which owns 19,000 houses at present, will now have to start sending officers to the houses of tenants who owe rent, to stop the arrears soaring and hopefully recover as much of the debt as possible.

Speaking of why this situation has occurred, the assistant director of housing services at Stoke-on-Trent City Council Val Bourne has blamed a new computer system which sent out warning letters to tenants with rent debt problems. She said:

“The connection with tenants was taken away. It became very much an automated process, made worse by a reduction in staff.

“Within days an officer will now knock on the door and talk to people about why they are not paying their rent instead of letting it drag on for weeks and become a problem they don’t want to face. We don’t want to evict people. We want them to keep their tenancies.”

Posted by Sam in debt advice, Debt help, Debt Management News on February 2nd, 2012 , tagged with debt, debt advice, debt consolidation, debt help, debt help uk, debt management, debt management companies, debt management plan, debt management problems, debt management program, debt managers, debt problems, debt solution, debt solutions, how to clear debt.

Shops warned not to tempt consumers into debt problems with store card offers

New rules are set to be introduced in the UK which will prevent shops from tempting consumers into debt problems by offering discounts and other incentives to take out store cards.

The Government has introduced the new rules in response to continued criticism that shops are pushing store cards on customers, not all of whom understand what they are signing up for. Many have trouble paying back what they owe on these cards and with interest rates as high as 25 per cent, debt management problems often follow.

As part of the new rules:

• Shops will no longer be able to offer discounts on purchases at the till in return for filling in an application for a store card
• Discounts and free gifts will still be offered for store card holders, but only after the seven day ‘cooling off’ period. Customers must return after this time to get money off their next purchases or their free gift
• Shop staff will no longer earn commission for encouraging shoppers to sign up for a store card, and any staff selling store cards to customers must receive standardised training first

Explaining the purpose of the new rules, the Financial Secretary to the Treasury, Mark Hoban, said:

“The public told us that consumers can be tempted into taking out a store card by being offered a discount at the till. We’ve listened to these concerns and have worked with industry to develop a strong package of measures in response.”

Posted by Sam in Debt help, Debt Problems on February 1st, 2012 , tagged with credit card debt, debt, debt advice, debt consolidation, debt help, debt help uk, debt management, debt management companies, debt management plan, debt management problems, debt management program, debt managers, debt solution, debt solutions, how to clear debt.

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). Researchers found that women, in particular, are at risk from debt problems once they retire. Nearly half of those surveyed said they had never put any money away for their pension fund and they aren’t saving currently.

Only one in five of those included in the survey said that they thought they were saving all they would need to make their retirement financially secure.

The research also revealed that many people aged 55 and over are worried that they will never be able to afford to retire. Around one in ten said they had no idea how to improve their financial outlook for the future, but one third said they were planning to tackle their debt problems first.

This suggests that household do not have enough disposable income at the moment to clear debt problems, pay all their bills and put aside savings for retirement. The figures show this too, as more than half of survey respondents said their household finances have worsened over the last six months.

Financial Planning Week is a campaign which aims to help people plan for their futures and to seek proper financial and debt advice where appropriate.

Posted by Sam in Debt Management News on February 1st, 2012 , tagged with debt, debt advice, debt consolidation, debt help, debt help uk, debt management, debt management companies, debt management plan, debt management problems, debt management program, debt managers, debt problems, debt solution, debt solutions, how to clear debt.

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 just a few months ago in June 2011, when the figure stood at 55,763.

Furthermore, the bank revealed that another 69,736 mortgages have been restructured recently, through agreements between homeowners and the bank. A total of 33,360 of these mortgages are currently in arrears.

These figures show that there is a increasingly mortgage debt problem in Ireland, which could be attributed to the after-effects of the banking crisis, property crash and the €67.5 billion bail-out of the country by the International Monetary Fund (IMF) and the European Union (EU) in 2010.

Another factor which could be increasing debt problems for Irish homeowners is the high level of unemployment in the country at present. This 14 per cent unemployment rate, combined with lower wages and wage freezes, could make it very difficult for homeowners to clear their mortgage debt and keep on top of payments in the future.

Indebted homeowners could soon have some relief, however, as the Irish Government is pushing to pass new legislation which will force banks to help struggling mortgage holders by passing on cuts in the European Central Bank’s interest rates.

Posted by Sam in Debt Management News, Debt Problems on January 31st, 2012 , tagged with debt advice, debt consolidation, debt help, debt help uk, debt management, debt management companies, debt management plan, debt management problems, debt management program, debt managers, debt problems, debt solution, debt solutions, how to clear debt.

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 those questioned admitted providing financial aid to family members and close friends. The average amount given by such generous families was £442 a year. Whilst this may not seem like very much, it could make a huge difference to a household that is already struggling with debt problems.

The Aviva report also uncovered a shift in family dynamics which has lead many households to lend money to their aunts, uncles and other ‘extended family’, as well as close friends, adult children and ageing parents. These were the main recipients of this new wave of altruism uncovered in the insurer’s report.

The director of workplace savings at the insurance company, Paul Goodwin, advised families that they may be better keeping the cash they give to friends and relatives in order to tackle their own debt problems or to save for retirement. He said:

“While it is good to see how families are pulling together, people need to make sure they are not sacrificing their own financial wellbeing, particularly in the long term.

“While we obviously don’t expect people to stop supporting their families, we would urge them to think about the types of support they can provide and decide whether they can help them in different, more practical ways.”

Posted by Sam in Debt Consolidation, Debt Management News on January 31st, 2012 , tagged with debt consolidation, debt help, debt help uk, debt management, debt management companies, debt management plan, debt management problems, debt management program, debt managers, debt problems, debt solution, debt solutions, how to clear debt.

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 Southwark Crown Court recently, it was revealed that Devine was one of four MPs to receive legal aid in order to fight their cases in court. Mr Devine, who was found to have unlawfully claimed expenses of £8,385 during his time in office, was given a total of £32,000 in legal aid.

Mr Devine has now been told that because he because he had been through bankruptcy proceedings in February 2011, he does not have to pay back his legal aid costs. Mr Justice Saunders explained that Mr Devine would be saddled with greater debt problems if made to pay the money back. He said

“In relation to all other costs I should make orders for payment by the defendants unless in all circumstances of these it would involve undue financial hardship.

“In the case of Mr Devine different considerations apply. He is bankrupt and it seems unlikely that he will have anything left by the time all his debts are paid off.”

Meanwhile, the three other defendants, Elliot Morley, David Chaytor and Eric Illsley, have been ordered to pay back a total of £66,951 in legal aid. They will also have to pay a total of £58,530 in prosecution costs.

Posted by Sam in debt advice, Debt Management News on January 31st, 2012 , tagged with debt advice, debt consolidation, debt help, debt help uk, debt management, debt management companies, debt management plan, debt management problems, debt management program, debt managers, debt problems, debt solution, debt solutions, how to clear debt.

Campaign to target energy bill debt

A new campaign to tackle debt problems relating to energy bills has been launched by a number of charities and other bodies, such as Citizens’ Advice, Ofgem, Consumer Focus and Age UK.

The campaign is called Plug the Debt, and it aims to help people who are falling behind on their energy bill payments or are likely to in the coming winter months. According to campaigners, energy prices increased by around 7 per cent last winter. By spring 2011, this had increased the number of people amassing energy debt problems for the first time by more than a fifth for gas and more than a quarter for electricity.

Those behind the campaign also revealed shocking figures which showed that more than 850,000 people in Britain are in debt to their electricity supplier. Gas customers are also struggling with debt problems, as 700,000 people also owe money to their gas supplier.

According to the latest research, more than half of British people are worried about energy debt problems this coming winter, but as many as 29 per cent believe that their energy supplier would not help them if they experienced problems paying their bills.

Support for the launch of the Plug the Debt campaign also came from the Energy Minister Charles Hendry, who said:

“I wholeheartedly support the Plug the Debt campaign. Recent energy price rises in combination with other rising costs mean that many household budgets are under huge pressure, so it’s more important than ever that consumers who are at risk of falling behind on their bills know what their rights are and what help is available.”

Posted by Sam in Debt help on January 30th, 2012 , tagged with debt, debt advice, debt consolidation, debt help, debt help uk, debt management, debt management companies, debt management plan, debt management problems, debt management program, debt managers, debt problems, debt solution, debt solutions, how to clear debt.

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