The quick answer to this is ‘yes’.  Your credit history is a track record of your adherence to your initial agreement with your creditors, so any deviation from this, such as the reduced repayments you will be making on a Debt Management Plan (DMP), are likely to show up on your credit report. However, focusing... More »

One of the biggest worries for prospective Individual Voluntary Arrangement clients is what will happen to their home in an IVA.  In simple terms: in the majority of cases, a homeowner entering into an IVA will be able to keep their home, but may be asked to release any equity in the property.  This can... More »

I can go days without seeing money.  By that I mean REAL money: cold, hard cash, not numbers on a screen when I log in to my internet banking.  I’m a big fan of internet banking, it’s made banking so much easier, but I think you’ll agree that it’s also made it so much easier... More »

Work is well underway on the world’s most expensive building: 1WTC, or Freedom Tower, in New York.  The skyscraper is being built at ground zero, the site of the destroyed World Trade Center, and is expected to cost £2.5 billion.  That’s a lot of money, but not nearly as much as Britons collectively overspend on... More »

After receiving a number of complaints about debt collection agencies using social media to chase debtors, the Office of Fair Trading (OFT) has updated its Debt Collection Guidance.  Although the OFT have only received a handful of complaints, it recognised that the practice of using Facebook and Twitter as debt collection tools would likely increase... More »

Adding to the ongoing debate amongst Insolvency Practitioners (IP)’s, regarding the accessibility of IVAs and reducing disposable income thresholds for IVA eligibility, is the latest release from the UK’s leading provider of data and technology driven debt solutions, TDX. The company has revealed IVA figures for 2011, which showed a reduction of 8 per cent... More »

That’s the message from R3 president Frances Coulson The current personal debt snapshot reveals the highest levels of worry over debt ever recorded. Furthermore, the survey identifies a group who could be termed ‘Zombie’ debtors – who currently pay only the interest and charges on their debt, but not the debt itself. They stand at... More »

Don’t be spooked by TV drama There’s no need to go running for cover There may be a few worried TV fans after watching recent episodes of BBC Wales series The Baker Boys. The fictional employees who bought an ailing Valleys pie company have recently been seen scurrying around their homes, trying to find hiding... More »

We found this article recently which we thought was interesting; http://www.guardian.co.uk/money/blog/2011/dec/08/diary-of-a-debtor-redemption?INTCMP=SRCH The final point made is a good one – advice and lots of it is the best cure.  Speak to us for a no pressure chat about your situation and how we can help you. More »