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Personal


Ombudsman lambasts council for bankruptcy failings

The Local Government Ombudsman (LGO) has criticised Torbay Council for failings that led it to make a man, who was suicidal and had mental health problems, bankrupt.

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MAT continues feud with fee chargers

Commercial debt management firms are leaving consumers financially worse off by offering poor debt advice, according to the chief executive of the Money Advice Trust.

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Personal insolvencies in 15% annual fall

The number of individual insolvencies in England and Wales in the first three months of 2011 was 30,162, a decrease of 15.5 per cent on the same period last year.

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Consumers shift their spending habits

Consumer spending habits shifted dramatically in the last year with more than 80 per cent of consumers saying they have changed the way they shop.

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Bankrupt woman takes IP to court over fees

A second appeal launched by a bankrupt woman against her trustee over the level of fees charged, has been turned down by the high court.

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OFT revokes four firms’ licences over IVA claims

The Office of Fair Trading (OFT) has revoked the consumer credit licences of four businesses that targeted consumers with misleading, unsolicited mail about bankruptcy.

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55,000 youngsters struggling with debt

The number of young and unemployed people struggling with debt in the UK is now 55,000, according to figures released by the Money Advice Trust.

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OFT shuts down 19 lead generator websites

The Office of Fair Trading has shut down 19 unlicensed lead generation websites following an investigation.

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OFT unveils new head of consumer credit

David Fisher has replaced Ray Watson as director of consumer credit at the Office of Fair Trading (OFT), with Watson moving to a new post within the organisation.

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Insolvencies hit the squeezed middle

Married middle class couples suffered the biggest increase in insolvencies as a demographic during 2010, according to analysis published today on personal insolvency.

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Access to debt relief orders expands

A landmark change to insolvency legislation will expand access to the debt relief order (DRO) regime to those with an approved pension, the government has announced.

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CCCS warning over struggling households

More UK households are set to struggle with repayment of their debts in the coming months due to a combination of job losses, falling incomes and rising costs, a debt charity has warned.

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OFT consults on new debt collection guidance

The Office of Fair Trading (OFT) has launched a 12-week consultation on its updated debt collection guidance.

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Advice sector hails vital funding lifeline

Debt advice charities have hailed a pledge from government that £27m will be ringfenced to fund face to face debt advice in England and Wales.

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£27m boost for face to face debt advice

The Department for Business, Innovation and Skills (BIS) has secured a £27m funding boost for face to face debt advice across the country, amid looming redundancies for debt advisors.

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Debt charity warns of calm before the storm

A UK debt charity has warned that the debt crisis looks set to escalate again, despite the latest figures indicating a drop in personal insolvencies.

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UK still faced with record personal insolvencies

The UK is still set to be hit by a record number of personal insolvencies this year, despite commentators taking recent falls in quarterly statistics to mean the worst is over.

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Middle-aged females suffer most in credit crunch

Bankruptcies among middle-aged women are rising at a faster rate than any other demographic group, shooting up 37 per cent in just one year.

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Personal insolvencies show annual rise

The number of personal insolvencies in England and Wales reached 34,743 in the second quarter of 2010 – a rise of five per cent on the same period in 2009.

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North South divide lives on

Recent personal insolvency figures have pointed to a distinct North South divide in the number of bankruptcies in the UK.

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