Monthly Archives: February 2016

Do I Qualify For A Debt Relief Order?

debt relief order qualify

Debt Relief Orders (DROs) were introduced by the Government in 2009 as an alternative to bankruptcy for people in certain circumstances. A DRO can only be set up by an approved intermediary, which could be a company or an individual debt adviser. Like bankruptcy, a DRO is a form of personal insolvency that involves the… Read more »

Protecting Personal Assets From Business Bankruptcy

business bankruptcy

It’s a common dream to own your own business but sadly, things don’t always go to plan. And if your business ends up crashing down around your ears, the last thing you want is your personal life following suit. This article from bankruptcy experts, Bankruptcy Clinic, offers a few useful pointers to help protect your… Read more »

Average UK Consumer ‘Debt-Free At 69’

senior citizen debt

A new report has revealed that the average UK consumer will finally become debt-free at the age of 69 – a whole 12 years later than expected. The research, carried out by the Centre for Economics and Business Research (CEBR) and the loan provider Zopa, concluded that a growing tendency for people to borrow money… Read more »

British ‘Bankruptcy Capitals’ Revealed

uk city bankruptcies

The Insolvency Service has published statistics showing the areas of England and Wales where people are most likely to declare a form of personal insolvency. As in 2013, Welsh constituency Vale of Clwyd topped the 2014 ratings, with the latest figures revealing 48.6 insolvencies for every 10,000 adults. Stoke on Trent North and Torbay were… Read more »

New Fee-Free Bank Accounts Could Help Bankrupts

free basic bank account

One the results of declaring bankruptcy is that you’ll usually need to close your existing bank account and open a new one – often with fewer services and stricter terms than your old account. Previously, this has meant that some bankrupts have struggled to find a new bank account that meets their needs. But as… Read more »