experts unconvinced by falling insolvency figures - Published:12/12/07
New statistics free by the Insolvency Service reveal that the figure of people declared insolvent fell by five per cent in the third quarterThat marked the third quarterly fall in a line and the first annual decrease in five years, but analysts caution that the figures do not in themselves denote that people are becoming better at managing debtThey note that the shape for insolvencies encompasses both IVAs and bankruptcies, with the incidence of the latter actually increasing 22 per year-on-year for Q3 to reach 15,833John entry, chief executive of debt management company new-tomorrowcom, told the Times that the drop in IVAs may simply be a result of tightened financial type of weather"There is a dam waiting to burst and the cracks are starting to come into view," Mr Hall ominously foretold "The reason the figures are not higher still is that lenders are making it more difficult for their customers to put a voluntary debt solution in put by insisting on unachievable repayment levels"IVAs allow debtors to freeze and sometimes decrease their debt while maintaining convenient monthly repayments Nearly one in five IVA applications is rejectedconditions of use Advertising Resources Product guides Press releases About us.
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Treasury wants more mortgage info - Published:31/08/07
The Treasury has announced its meaning to ensure that Britons are able to make more knowledgeable choices when they look for a mortgageIn an announcement that followed the major minister's vow to create more affordable housing and encourage greater availability of fixed-rate mortgages, chancellor Alistair Darling outlined the coffers's proposalsMr Darling unveiled a number of novel initiatives - aside from the wish to give mortgage hunters more information - including some that seek to offer mortgage lenders greater right of entry to capital market financeGordon Brown has charged the chancellor with blame for novel covered bonds designed to help mortgage lenders finance fixed-rate mortgages with terms of around 20 to 25 years"The chancellor will report by the Budget on how to conquer any barriers preventing lenders from offering people long-term mortgages, counting the container for changes to instruments used by the Debt Management Office," supposed the TreasuryIn response to the various government announcements, the Council of Mortgage Lenders said that new habits of funding mortgages is a key issue in the provision of new and innovative products that could potentially help borrowerscoffers wants more mortgage infoNone of the information on this website is intended to promote any specific mortgage manufactured goods or provide.
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Tackling debt demands - Published:12/10/06
BBC News Ask the specialist column gives readers a chance to get their financial questions answered by expertsThis week, Meg Van Rooyen of nationwide Debtline, a gratis telephone helpline for people with debt problems, helps reader Charlotte BanksMs Banks is aggressive to disburse back almost £10,000 she owes on praise cards Debt collectors are now involved in recovering part of the debt, and she is worried about courtyardyard actionShe has opened another bank account to ensure she has enough money to live off, but she is still aggressive to disburse back the money she owesThere is no point making arrangements to disburse one of your praiseors without dealing with all the other debts you have tooThis should list your monthly income from all sources and the ordinary necessary monthly outgoings you need to disburse to keep the roof over your headThese include mortgage or rent, fuel, council tax, water, telephone, TV certificate, insurance, housekeeping, clothes, travel and son onDo not include the sums you are hypothetical to make on any unsecured praise such as personal loans, overdrafts and praise cards at this stageThe aim of the personal budget is to see what you have left over after all your necessary outgoings have been metThis figure represents the available income that you can sensibly afford to use to disburse your unsecured praiseorsYou can then work out how much to offer to disburse each of your praiseors on a monthly basis so they each get a share of your available income The paleest way of action this is to make offers on a pro rata basisConsumer Credit Counselling Service (0800 1381111): The overhaul offers gratis recommendation and information to those affected by debtCitizens Advice: You can find out details of your local CAB by using the website's online directory (see link on right) or by looking up its local offices in your telephone directoryYou can either make offers to your praiseors yourself by writing to them with a copy of your personal budgetAlternatively you may be able to get a gratis debt management plan which enables you to make one sum a month which is divided up amongst your praiseors for youMake sure you disburse all your necessary outgoings first, and avoid any debt management company that charges you fees to set up a debt management planYou cannot force a praiseor to accept an offer of sum But if they can see that you have worked out a reasonable budget plan, and each praiseor is getting a pale share of the money available, they are likely to acceptIf the praiseor takes you to county courtyardyard, you can offer to disburse the debt off - in instalments you can afford - by filling in the forms the courtyardyard will send youAll praiseors and debt compilation agencies have to follow the Office of Fair Trading (OFT) debt compilation guidanceYou can complain to the debt compilation agency and your local trading standards section and to the OFT The guidance is on the OFT's websiteIt is a good idea to choose an "instant access" kind account with no overdraft or cheque facility A list of these can be found on the Financial Services Authority website The overdraft can be included with your other praise debts when offers of sum are madeThe opinions expressed are those of the author and are not held by the BBC unless specifically stated The material is for general information only and does not constitute asset, tax, legal or other form of recommendation You should not rely on this information to make (or refrain from creation any decisions Always obtain independent, professional recommendation for your own particular situationRefused praise Ex's debts 1 Ex's debts 2 Credit history Credit cards 1 Credit cards 2 BankruptcyMulti-managers Mortgages 3 Homes overseas Endowments 1 Property/Equity With-profits retirement fund transfer Funding old age Harassment Bad references duty issues Venture assets Business finance Debtor hassle Stealing staff Inheritance 2 Mortgages investments cover retirement fund Credit Cheque rules Dollar accounts Right to buy Credit card debt Childcare costs deprived praise Switching Isas EPS duty codes Credit-card debt retirement fund lump sum Mortgage Tessas Work pensions Mortgage/cancer Help for carers Endowments 2 My ex's debts Marine loans Bank records Inheritance 1 Endowments 3 retirement fund/divorce Letting property retirement fund rights Endowments 4 Endowments 5 Refused praise Endowments 6 Endowments 7 Help for carer My childcare woe Frozen pensions Breaks for carer MVAs European pension Endowments 8 Bankruptcy State pension Inheritance 3 Inheritance 4 investments Buy-to-let loans Endowments 9 Annuity reform Small pensions Loans and age retirement fund repair duty and pensions Property performance Key workers duty on property Simple pensions Debt time limits duty praises.
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