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12/12/2011
Cornwall Is Britain's Bankruptcy Capital
A report published on Monday has revealed Cornwall is Britain's most bankrupt county.
The report, from Debt advice charity Consumer Credit Counselling Service (CCCS), showed areas of England with the highest bankruptcy levels.
The results showed rural communities had been hit hard, with Cornwall, Northumberland, Devon and Lincolnshire charting highest in most bankruptcies per 10,000 of population.
CCCS external affairs director Delroy Corinaldisaid: "This is likely to result from a mix of factors such as high debt levels and less job opportunities than you would find in large urban areas."
Meanwhile, debt expert Martyn Saville at consumer group Which? said that many people would be shocked by the list.
"Far from being restricted to traditional areas of high unemployment, such as former industrial heartlands, these statistics from CCCS show that unmanageable debt is a problem that affects the whole country.
"If you're struggling with your finances, there are places that can help. Organisations like the CCCS, National Debtline and Citizens Advice all offer free and impartial debt advice. Don't use a commercial debt management company."
The report comes only days after another study by CCCS raised concerns about the number of redundancies reported by the Office for National Statistics (ONS), saying many of those affected would now struggle to repay their debts.
The debt charity made the warning as the ONS published statistics on ‘Reasons for Leaving Last Job - 2011’ on Friday, which found that 43% of those leaving their last job in the second quarter of 2011 did so as a result of redundancy.
CCCS said redundancy and unemployment often led to debt problems and was the biggest causes of debt among those seeking its help.
The charity says that these clients were likely to be particularly financially vulnerable.
CCCS clients receiving Jobseekers Allowance (JSA) were in the worst financial position of all its clients, with monthly outgoings outstripping household income by £203.
(DW)
The report, from Debt advice charity Consumer Credit Counselling Service (CCCS), showed areas of England with the highest bankruptcy levels.
The results showed rural communities had been hit hard, with Cornwall, Northumberland, Devon and Lincolnshire charting highest in most bankruptcies per 10,000 of population.
CCCS external affairs director Delroy Corinaldisaid: "This is likely to result from a mix of factors such as high debt levels and less job opportunities than you would find in large urban areas."
Meanwhile, debt expert Martyn Saville at consumer group Which? said that many people would be shocked by the list.
"Far from being restricted to traditional areas of high unemployment, such as former industrial heartlands, these statistics from CCCS show that unmanageable debt is a problem that affects the whole country.
"If you're struggling with your finances, there are places that can help. Organisations like the CCCS, National Debtline and Citizens Advice all offer free and impartial debt advice. Don't use a commercial debt management company."
The report comes only days after another study by CCCS raised concerns about the number of redundancies reported by the Office for National Statistics (ONS), saying many of those affected would now struggle to repay their debts.
The debt charity made the warning as the ONS published statistics on ‘Reasons for Leaving Last Job - 2011’ on Friday, which found that 43% of those leaving their last job in the second quarter of 2011 did so as a result of redundancy.
CCCS said redundancy and unemployment often led to debt problems and was the biggest causes of debt among those seeking its help.
The charity says that these clients were likely to be particularly financially vulnerable.
CCCS clients receiving Jobseekers Allowance (JSA) were in the worst financial position of all its clients, with monthly outgoings outstripping household income by £203.
(DW)
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14 February 2011
Funding Of £27m Secures Face-To-Face Debt Advice Programme
The future of the face-to-face debt advice programme has been secured today with the Government announcing £27 million of funding for the next year. The Government wants to ensure that individuals facing financial difficulty can get valuable impartial advice early, rather than wait until their problems become much more difficult to resolve.
Funding Of £27m Secures Face-To-Face Debt Advice Programme
The future of the face-to-face debt advice programme has been secured today with the Government announcing £27 million of funding for the next year. The Government wants to ensure that individuals facing financial difficulty can get valuable impartial advice early, rather than wait until their problems become much more difficult to resolve.
27 April 2012
Government Departments Outsourcing Debt Collection
Government departments tasked debt collection agencies with recovering almost £60bn in unpaid consumer debt last year, according to figures release for the first time by the industry.
Government Departments Outsourcing Debt Collection
Government departments tasked debt collection agencies with recovering almost £60bn in unpaid consumer debt last year, according to figures release for the first time by the industry.
03 October 2005
National scheme to tackle personal debt
People with personal debt problems are set to benefit from a new national scheme, which encourages early contact between debtors and creditors. The introduction of Pre-Action Notices (PAN), by the Department for Constitutional Affairs, is aimed at helping people to resolve debt difficulties without going to court.
National scheme to tackle personal debt
People with personal debt problems are set to benefit from a new national scheme, which encourages early contact between debtors and creditors. The introduction of Pre-Action Notices (PAN), by the Department for Constitutional Affairs, is aimed at helping people to resolve debt difficulties without going to court.
21 October 2004
Charity calls for credit reform to tackle rising debt problems
Citizens Advice has issued a credit warning to consumers after revealing that people approaching the agency with debt problems had risen by three-quarters over the past seven years. On the back of the figures, the charity has today called for a reform of Britain’s "outdated" consumer credit laws to be included in the Queen’s Speech later this year.
Charity calls for credit reform to tackle rising debt problems
Citizens Advice has issued a credit warning to consumers after revealing that people approaching the agency with debt problems had risen by three-quarters over the past seven years. On the back of the figures, the charity has today called for a reform of Britain’s "outdated" consumer credit laws to be included in the Queen’s Speech later this year.
04 February 2010
Interest Rates And 'Easing' Held
The Bank of England today held interest rates at 0.5%, with so-called 'quantitative easing' being mainted at £200 billion. The UK officially climbed out of recession last month, following a 0.1% growth in output. "After a substantial fall in output, the UK economy recorded sluggish growth in the final quarter of 2009," the bank said this morning.
Interest Rates And 'Easing' Held
The Bank of England today held interest rates at 0.5%, with so-called 'quantitative easing' being mainted at £200 billion. The UK officially climbed out of recession last month, following a 0.1% growth in output. "After a substantial fall in output, the UK economy recorded sluggish growth in the final quarter of 2009," the bank said this morning.
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