Monthly Archives: December 2014

Government Predicts Rise In Household Debt

New figures published by the Office for Budget Responsibility (OBR) predict that levels of household debt in the UK are set to soar above pre-recession levels. Released alongside the Chancellor’s Autumn Statement, the OBR’s report estimates that over the next five years, the ratio of household debts will increase to 184% of incomes – 15%… Read more »

Can’t Afford Bankruptcy Fees? Help May Be At Hand

Whilst bankruptcy might be the best way of dealing with your debts in certain circumstances, there’s no getting away from the fact that there are upfront costs involved. At the moment, the cost of declaring bankruptcy for an individual is £705, consisting of £180 in court fees and a £525 payment to the Official Receiver…. Read more »

What Action Can Creditors Take To Recover Debts?

If you can no longer afford to repay your debts, you can expect your creditors to take legal action against you to recover what you owe. This article from debt advice firm, Bankruptcy Clinic, gives an overview of some of the actions that creditors might take, depending on the circumstances involved. County Court Judgement (CCJ)… Read more »

Life After Bankruptcy – What To Expect

So you’ve decided that bankruptcy is the right way to deal with your money problems and the wheels of the bankruptcy process are in motion. But what can you expect to happen after your Bankruptcy Order has been made and, later on down the line, when you’ve been discharged? This article from bankruptcy advice specialists,… Read more »