Archive for July, 2006

TweetShareIt fears that some people are living lavish lifestyles thinking that they can have debt wiped out as a bankrupt, when in reality the consequences could affect them for as long as 15 years. To highlight its point, the Insolvency Service has given examples of “reckless behaviour” to show the dangers of running up debt. [...]

TweetShareJohn Borgars of Equity Development claims that the households would be unable to cope if they were hit by unexpected illness, injury or redundancy. “For the last eight years, Britons in aggregate have been spending more than they earn resulting in a gradual build up to a vast number of individual crises,” warned Mr Borgars. [...]

TweetShareThe campaign group, Debt on Our Doorstep, wants to see a limit put on the credit interest to ensure that those people being targeted, often the most vulnerable members of society, do not fall even deeper into debt. Interest on the small loans can vary from 160 per cent right up to 800 per cent [...]

TweetShareEncouragingly, many people would be happy to shun life in the fame limelight if they could guarantee themselves a place on the property ladder, getting by financially and achieving equilibrium between work and life. Produced by Churchill, managing finances and being able to clear debt came eight and ninth in the list of top ten [...]

TweetShareAccording to John Borgars of Equity Development, many firms set up to help people clear debt charge fees which can add to their problems. He praised ClearDebt for its affordability, in contrast to firms such as Loanmakers, which collects a ten per cent commission from lenders on the value of each loan it sources for [...]