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 »

Household Debts Spiralling Despite Economic Upturn

The UK economy may appear to be in recovery but according to statistics released by National Debtline, many British households are still struggling with high levels of hardship and debt. National Debtline, which is operated by the Money Advice Trust charity, says it helped more than 150,000 people with their household debts in 2013, a… Read more »

Payday Loan Firms Hit The Headlines Again

Never far from the headlines at the best of times, payday loan firms and their unscrupulous practises were dominating the news-stands again at the end of June. Just days after the Competition and Markets Authority (CMA) called for the introduction of a price comparison site to expose lenders charging extortionate interest rates, well-known provider Wonga… 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 »

Bankruptcy, IVA Or DRO – Which Is Right For Me?

Bankruptcy, Individual Voluntary Arrangements (IVAs) and Debt Relief Orders (DROs) are all options for managing your debts and they’re all forms of insolvency. Beyond that, however, they are three quite different solutions designed for people in different personal and financial circumstances.   This article will help you understand how these solutions work, and give you… Read more »

Why Are Pro Footballers Going Bankrupt?

When you think of professional footballers, one of the first things that comes to mind is their vast weekly wage packets. Closely followed by huge mansions, designer clothes, luxury cars and glamorous WAGs – all a direct result of this fabulous wealth. So it may come as a surprise that, according to Xpro, a charity… Read more »

The Rising Tide Of Council Tax Arrears

The ever-growing mountain of consumer debt in the UK has been hitting the headlines recently, with much media attention focusing on payday loans and other forms of unsecured lending. But recent statistics released by the Citizens Advice Bureau (CAB) tell a different story as, for the first time, council tax arrears are outstripping other types… Read more »

The Differences Between Personal And Corporate Bankruptcy

corporate bankruptcy uk

Bankruptcy whether personal or corporate is a way of wiping the slate clean; it is a fresh new start without the worry and stress of debt. There are distinct similarities between the two, both personal and corporate insolvency, but there are also very apparent differences. Individuals file for bankruptcy, whereas companies go into liquidation. Once… Read more »

How Protected Trust Deed Changes Will Affect You

Trust Deeds in Scotland

Around 7,000 debtors in Scotland every year decide, as opposed to going bankrupt, that the Protected Trust Deed is the best solution for them when they are unable to resolve their debt. However for some time the Scottish Government had real concerns about how little creditors were getting in dividend returns from these Protected Trust… Read more »

What Is Debt Management Protocol?

When you are in debt it can be a frightening and worrying time. There is only so long that you can go on burying your head in the sand and hoping that it all just goes away. The reality, of course, being that it obviously does not. On the realisation of this, most debtors at… Read more »