THE number of personal insolvencies in England and Wales has risen by a dramatic 73.4 per cent in the first quarter compared with the same period last year, according to official figures.
As fears grow consumer borrowing may have spiralled out of control a total of 23,351 become bankrupt or entered into an Individual Voluntary Agreement [...]
Archive for May, 2006
8 May 2006
How to benefit from bankruptcy
First debt lost its stigma and now bankruptcy is losing its sting. Two years ago, some 45,000 people were declared bankrupt in Britain. In 2005, the figure topped 70,000. That easily surpasses the rate recorded in 1992, back when the UK economy was last in recession. And around 45,000 of last year’s bankrupts actually chose [...]
The number of personal insolvencies hit a new record high in the first three months of this year, rising to 23,351 from 20,679 in the fourth quarter of 2005. That's up 73% on a year ago. The number of bankruptcies is now more than double its last peak, in the early 1990s.
But some point [...]
TODAY I would like readers to meet Tracey, a pert young lady with an amazing technique in personal matters. It took Tracey, crisply kitted out in a British Midland uniform at Edinburgh Airport last week, one minute 25 seconds precisely to complete an application for a BMI credit card on my behalf. She was unbelievably [...]
7 May 2006
Bankruptcy Best Advice
From pensions to endowment mortgages, finance companies have a long and shameful record of scandals in which investors have been sold millions of pounds worth of products they did not really need.
But just when it appeared the worst was over, it has emerged that a new set of victims has been identified - people on [...]
Click here for a video answer to this question.
Fundamentally they are both designed as tools to help resolve difficult financial situations. Outside of that they are critically different.
Bankruptcy is an application to the court to be discharged or rid of your debts. That comes with a price however. The price paid is both a substantial [...]
If you have fallen behind on your mortgage or secured loan payments and have been given a court hearing date then dont be afraid to approach the lender’s representative before the hearing to see if you can come to an agreementto present to the district judge.
But don’t be pressed into offering more than you can [...]
How Do I Apply for An Administration Order?
You apply for an Administration Order on Form N92 which you can get from your local county court office. It comes with some notes to help you complete it.
Put the name of your local county court on the form. This may be [...]
What Should I Do If A Creditor Takes Me To Court?
Most people are frightened of courts, especially when they feel guilty because they owe money. The County Court is not there to judge anyone guilty or innocent, but to settle disputes about money owed, and how to repay it. The court is [...]
