Record personal insolvencies
A record 35,574 people in England and Wales were declared insolvent in the last quarter of 2009, according to statistics out today from the Insolvency Service.
The figure – a 24.9 per cent jump on the same period a year ago – was made up of 17,007 bankruptcies, 13,219 individual voluntary arrangements (IVAs) and [...]
"prescribing life without debt"
Kicking the habit
None of us are perfect when it comes down to bad habits, but some are worse than others; not understanding your debt or finances is one of them. Kicking these bad habits into touch means that you can look towards“prescribing yourself a life without debt”
Too many credit card [...]
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UK personal debt hits £1.46bn
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Total UK personal debt at the end of October 2009 stood at £1.46bn, a report from money advice charity Credit Action has revealed.
The charity’s statistics show that the 12-month growth rate of personal debt fell to 0.7 per cent, while total [...]
Mortgage lender fined £2.8m
The Financial Services Authority has fined mortgage lender GMAC RFC £2.8m for failing to treat customers fairly over arrears and repossessions.
GMAC RFC is also facing redress of up to £7.7m plus interest for more than 46,000 mortgage customers.
Between 31 October 2004 and 30 November 2008, a number of serious failings by GMAC-RFC [...]
