Posts Categorized: Bankruptcy

The Latest Personal Insolvency Statistics

Figures released by R3, the Association of Business Recovery Professionals, have revealed that the number of personal insolvencies in the UK has risen for the first time in four years for quarter 2 of 2014. After reaching a record high of 32.4 insolvencies per 100,000 adults in England in Wales back in 2010, numbers fell… Read more »

Bankruptcy For You? Try Our Handy Checklist

Bankruptcy Clinic has helped thousands of people over the years who are looking at Bankruptcy as a debt solution. As our name suggests, we’re bankruptcy specialists, but if bankruptcy isn’t your best option, we can still help by offering an alternative debt management solution that meets your needs. In this article, we’ve set out a… Read more »

Voluntary Versus Involuntary Bankruptcy

Bankruptcy Clinic Cloud

Bankruptcy is often seen as a last resort for dealing with debts that have become truly overwhelming. To put it simply, bankruptcy may be your only option if you owe at least £750 in unsecured debts and you have little or no disposable income or assets with which to repay them. If you find yourself… Read more »

What Happens If Your Partner Goes Bankrupt?

These days, it’s just as common for couples to have separate finances as to keep everything in joint accounts. But either way, problems can easily arise if one person is good at managing money and the other isn’t. So what happens if one half of a partnership (civil or otherwise) or marriage falls into serious… Read more »

The Surprising Benefits Of Bankruptcy

Bankruptcy has traditionally been seen as a last resort when it comes to debt solutions. It’s often associated with negative connotations such as social stigma, unpleasant court appearances, problems with employment and getting credit in the future…and so on. But the truth is that some of these time-honoured assumptions are quite simply out of date…. Read more »

Bankruptcy Threshold Could Be Raised

Government ministers are considering increasing the level of debt that a person must owe before they can declare themselves bankrupt, or be forced into bankruptcy by their creditors. The current threshold of £750 hasn’t changed since 1986 and, according to the Insolvency Service, this is leading to a rising number of cases where people are… Read more »

Bankruptcy And Retired People: The Facts

Retirement should be a time of relaxation and enjoyment, but it’s a sad fact that debt problems are on the rise amongst elderly people in the UK. Statistics released by the Debt Advice Foundation in 2013 revealed that five times as many pensioners are going bankrupt than 10 years ago, and the size of the… Read more »

A Spike In Personal Insolvencies In Q2

Figures released by the Insolvency Service have shown a worrying spike in the number of personal insolvencies reported in the second quarter (April to June) of 2014. The 8% rise represents a total of 27,029 new insolvencies during these three months, over 2,000 more than in the previous quarter and 5% up on the same… Read more »

Bankruptcy When In Self-Employment

Bankruptcy self employed

Declaring yourself bankrupt is a big decision to take, whatever your employment status. However, it could be said that self-employed people are more at risk of bankruptcy than people who have a job, because they often entangle their personal and business finances. This can make it hard for self-employed people to realise they have a… Read more »

Government Clampdown On Tax Credit Overpayments

An investigation by The Independent newspaper and campaign group False Economy has revealed that the Government has called in debt collection agencies (DCAs) to try and recover around £1.6 billion in overpaid tax credits from 4.7 million British families. 215,444 overpayment cases were referred to DCAS in 2013/14 alone. Child and working tax credits were… Read more »