Debt Advice Help and Support

70 per cent of families on the brink of financial ruin

In excess of 70 per cent of families are on the brink of serious financial problems, new research suggests. According to a study conducted by parenting site Netmums, almost three-quarters of UK households are close to poverty and could be tipped over the edge if their income falls or the price of day-to-day items such [...]

Brits are £33 billion worse off than 12 months ago

Despite inflating falling, new research suggests that Britons still need to find a collective £33 billion to maintain the same standard of living they were enjoying one year ago. A study by retirement investment firm MGM Advantage found that a typical UK household needs to earn around £1,259 a year to be as well off [...]

Almost half cannot afford energy costs

Figures released this week suggest that almost half of indebted Brits cannot afford the expense of their next fuel bill. Research conducted as part of the Citizens Advice Bureau’s Big Energy Week found that 43 per cent of households feel their next energy bill will be beyond their financial means. Some 50 per cent said [...]

High percentage of households have no financial cushion

At a time when unemployment is soaring and debt levels are unprecedented, it’s hardly surprising that many people are feeling the pinch. New research from First Direct shows that 28 per cent of UK households have less than £250 stashed away, while 21 per cent have no savings whatsoever. With the average monthly household expenditure [...]

Debt problems leave many suicidal

Rising debt problems is the reason why a large number of people have considered taking their own lives in the past years, according to one charity. Bradford-based Christians Against Poverty says that as many as a third of people they have spoken to about debt management issues have considered divorce or suicide. The charity says [...]

More than 20,000 Scots ‘to go bust’ this year

Bankruptcy advice is set to be in high demand this year as new research shows increasing numbers of Scots will go bust in 2012. A faltering economy and rising unemployment will fuel the rise, according to a report by accountancy firm PKF. It estimates that more than 20,000 people will have been declared bankrupt by [...]

Older people are affected by debt too

Debt management problems are not just experienced by the young, a debt management officer has stated. Anjie Cawthra of Leeds Older People’s Forum told the Yorkshire Evening Post that rising number of elder people are struggling with their finances and have rising debt levels. "It's a myth that older people don't get into debt. You [...]

Former England international facing bankruptcy

Even football stars are not exempt from falling into serious debt management issues. Former England and Aston Villa midfielder Lee Hendrie will face bankruptcy proceedings next month. HM Revenue and Customs has issued a bankruptcy petition against Mr Hendrie at the High Court in London and the case is set to be heard on January [...]

Times still tough despite fall in business insolvencies

Despite a fall in the number of large businesses being declared insolvent year on year, new figures released by credit reference agency Experian show that companies are still finding things tough. Big companies, those employing more than 501 people, saw a 25 per cent reduction in failure in September, with just 11 going to the [...]

Stranraer the worst place for debt in Scotland

Stranraer is the worst city in Scotland for bankruptcy cases, reports the Galloway Gazette. For every 10,000 inhabitants of the Wigtonshire province 49 were declared bankrupt in the 2009/2010 financial year. Russell Brown, Dumfries and Galloway MP, said he was alarmed at the figures and blamed the increase in payday money lenders for getting people [...]