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| Insolvencies to 'reach record levels in 2008' |
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A record number of people will be declared insolvent next year, as high levels of debt and the impact of the credit crunch take their toll on overstretched borrowers, it was predicted today.
IVAs allow borrowers to restructure their debts so they can make affordable monthly payments for a fixed period of time and have their remaining debts written off at the end... read on... |
| Christmas debts 'will cause record insolvency' |
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Christmas overspending will fuel record levels of insolvency this year, leading accountants predict.
More than 9,000 people will either file for bankruptcy or its less stringent form - an individual voluntary arrangement (IVA) - in the first quarter after over-burdening themselves during the festive period.
The accountancy firm Grant Thornton forecasts that when combined with the effects of the credit crisis... read on... |
| NI tops house-price growth |
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City house prices are rising faster in Northern Ireland than in any other region, new research has found.
According to a study of 66 cities across the UK, the four that have experienced the highest house-price growth over the past five years are all... read on... |
| How to manage your debts the easy way |
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THE credit crunch, interest-rate rises, loss of earnings, the reasons are numerous but for many people they are beginning to add up to one thing; more debt and fewer ways to pay for it.
Particularly around Christmas time many people are asking themselves how they are going to manage not just their existing debts but... read on... |
| Debt charities braced for post-Christmas crisis |
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DEBT charities are bracing themselves for a flood of calls after Christmas as overstretched borrowers find they can no longer keep up with their repayments.
January is traditionally the busiest time of the year for groups such as National Debtline and the Consumer Credit... read on... |
| Accountants predict rise in Insolvencies |
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The country’s leading accounting practices are expecting a rush of insolvency work in the new year, amid fears that the credit crisis will dry up the “wall of cash” that in the past has saved troubled businesses from going bust.
Industry experts predict that the number of insolvencies will rise by as much as 10% now that banks are taking a more conservative approach to lending... read on... |
| Getting yourself out of debt |
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Once you get into debt, everything tends to mount up.
You may owe money on the house, car, credit cards, furniture, clothes catalogue, even to friends and relatives.
The temptation is to try to ignore it and hope it will all go away.
In your heart of hearts you know this... read on... |
| 10m Britons falling into black hole of debt |
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More than ten million adults are teetering on the brink of the financial abyss because they cannot cope with rising mortgage payments and other debts.
A study paints an alarming picture of a large section of the population that is gripped by money troubles. Almost one in four - 23% - fear their current borrowing is already unmanageable or is about to become so.
Meanwhile 12% - 5.4m - have missed payments on debts... read on... |
| £1 million debts dealt with by Antrim CAB in the last year |
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ANTRIM Citizens Advice Bureau are helping local residents deal with up to £1 million in debts in each year, the Times can reveal.
The local organisation, which has a hugely successful branch in Antrim, has seen a "significant" increase in both the number of people seeking advice and the amount of debt people are getting into.... read on... |
| £6 million last year alone: Derry household debt at 'all-time high' |
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DERRY debt management company McCambridge Duffy says it is busier than ever as levels of household debt continue to spiral.
However, Ronan Duffy, partner with the firm, insists there are many solutions that can help alleviate crippling debts.
Mr Duffy revealed this week that levels of household debt... read on... |
To find out if McCambridge Duffy can help you regain control over your finances before matters are taken out of your hands, or to find out if you qualify for an IVA, simply get in touch:
