• Home
  • About Us
    • Our fees and charges
    • Terms of Business
    • Complaints procedure
    • Agreement to Mediate
    • Team
    • Privacy Policy
  • Consultation
  • Solutions
    • Insolvency Support
    • Negotiated Settlements
    • Personal Bankruptcy Experts
    • Mediation
    • Comparison of Solutions
  • Case Studies
  • Testimonials
  • Blog & News
    • Press & Awards
  • Links
  • Contact us
  • Home
  • About Us
    • Our fees and charges
    • Terms of Business
    • Complaints procedure
    • Agreement to Mediate
    • Team
    • Privacy Policy
  • Consultation
  • Solutions
    • Insolvency Support
    • Negotiated Settlements
    • Personal Bankruptcy Experts
    • Mediation
    • Comparison of Solutions
  • Case Studies
  • Testimonials
  • Blog & News
    • Press & Awards
  • Links
  • Contact us

11 years of debt advisory services

By Mr Bankruptcy

11th October 2021

This October is James Rosa Associates’ 11th Anniversary. During that time a lot has changed in the world. In 2010, David Cameron became Prime Minister in coalition with the Lib Dems and an ash cloud from the unpronounceable Icelandic volcano Eyjafjallajokull grounded every passenger flight in the country. Yet debt was as much a burden then as it is for many today.

Debt levels 11 years ago

Having been through a long recession, 2010 saw the country starting to recover, although the situation remained precarious and growth was slow. The pressure of a recession had taken its toll, leaving many people and businesses managing debts:

  • Total UK personal debt at the end of October 2010 stood at £1,452billion
  • Average household debt in the UK (including mortgages) was £57,624
  • 372 people every single day of 2010 would be declared insolvent or bankrupt
  • Total credit card debt in October 2010 was £58.3 billion
  • £178m interest paid on personal debt in UK daily.

And 11 years later?

Over the past 11 years the UK has experienced periods of financial growth but for the past 18 months, with the onset of a global pandemic, the financial situation has been turned on its head; as we come to the end of 2021 we see that:

  • At the end of July 2021 people in the UK owed £1,741.7 billion
  • The average total debt per household (including mortgages), was £62,670
  • 305 people a day were declared insolvent or bankrupt in England and Wales in June to august 2021
  • Outstanding credit card debt came to £56.4 billion
  • In July 2021, the UK’s total interest payments on personal debt was an average of £122 million per day.

The figures above suggest some improvements in the personal debts of the UK, and many have seen their day to day routine change, which may reduce their spending. But we shouldn’t forget that over the past 18 months we’ve seen a pause on some debt recovery measures, masking bigger problems lying beneath the surface, both for businesses and for individuals.

The past 11 years have continued to show that the world around us is a force for change. With rising utility bills, the end of furlough, increasing redundancies and an increase in prices, there continues to be a lot of financial uncertainty and insecurity.

To the best of our ability, we can try to manage our financial circumstances but, at times, we may need to weather unforeseen financial storms. Be assured that when the burden become too much, James Rosa Associates continues to be there to advise, support and guide people back to calmer seas.

In fact, we’ve received quite a lot of recognition to date, including: Finalist of the Turnaround Restructuring & Insolvency (TRI) Awards in 2020 and Highly Commended Finalist in the 2019 TRI Awards; winner of the SME News Finance Awards 2019; selected finalist in the Debt Advice Provider of the Year category for the 2019 Collections and Customer Service Award.

We like to think that these awards acknowledge the quality of service we strive to deliver for our clients every day, which also ties in with our mission for James Rosa Associates: “To be recognised as the most trusted source of debt advice and support in the UK with a reputation for excellence and integrity”.

This will continue to be the foundations of the path we take over the next 11 years and beyond.

James Rosa Associates

James Rosa Associates is a firm of debt advisors and debt adjustors. With a supportive and friendly approach, we offer a full range of advice and professional services to individuals and business owners/directors who face unmanageable debt or who are involved in civil or commercial disputes. Our services include:

  • Insolvency support
  • Negotiated settlements
  • Personal assisted bankruptcy
  • Mediation

We are authorised and regulated by the Financial Conduct Authority (FRN665061) to work with clients to produce bespoke solutions to fit their specific circumstances.

Find out if you qualify for a free consultation

If you need to deal with an unmanageable debt, or want to bring a dispute to a swift and cost-effective resolution, contact James Rosa Associates, ring 0845 6807217 or email enquiries@jamesrosa.co.uk to find out whether you qualify for a free consultation.

Please be advised that all views expressed in these posts are those of the author and not of James Rosa Associates ltd.

Categories

  • Bankruptcy (68)
  • Case Study (12)
  • Economy (51)
  • Events (23)
  • Finance (112)
  • Guest (19)
  • Insolvency (97)
  • Mediation (13)
  • Mr Bankruptcy (132)
  • Newsletter (9)
  • Other (14)
  • Personal Guarantees (13)
  • Press Release (18)
  • Turnaround (7)

Recent posts

  • Preserving your future aspirations in the face of unmanageable debt
  • How sustainable is your debt situation? Your credit report reveals all
  • Strategies for achieving financial freedom from debt
  • Understanding the differences between bankruptcy in England and Wales, and in Scotland
  • The link between debt and poor mental health

Archives

  • May 2025 (1)
  • April 2025 (2)
  • March 2025 (1)
  • February 2025 (2)
  • January 2025 (2)
  • November 2024 (3)
  • October 2024 (2)
  • September 2024 (3)
  • August 2024 (1)
  • July 2024 (1)
  • June 2024 (2)
  • May 2024 (1)
  • April 2024 (2)
  • March 2024 (2)
  • February 2024 (3)
  • January 2024 (3)
  • December 2023 (1)
  • November 2023 (2)
  • October 2023 (2)
  • September 2023 (2)
  • August 2023 (2)
  • July 2023 (2)
  • June 2023 (2)
  • May 2023 (3)
  • April 2023 (2)
  • March 2023 (3)
  • February 2023 (2)
  • January 2023 (1)
  • December 2022 (2)
  • November 2022 (1)
  • October 2022 (2)
  • September 2022 (2)
  • August 2022 (2)
  • July 2022 (1)
  • June 2022 (3)
  • May 2022 (2)
  • April 2022 (2)
  • March 2022 (1)
  • February 2022 (2)
  • January 2022 (2)
  • December 2021 (1)
  • November 2021 (5)
  • October 2021 (2)
  • September 2021 (3)
  • July 2021 (1)
  • June 2021 (3)
  • May 2021 (2)
  • April 2021 (2)
  • March 2021 (2)
  • February 2021 (2)
  • January 2021 (2)
  • December 2020 (1)
  • November 2020 (2)
  • October 2020 (2)
  • September 2020 (2)
  • August 2020 (2)
  • July 2020 (2)
  • June 2020 (2)
  • May 2020 (2)
  • April 2020 (3)
  • March 2020 (3)
  • February 2020 (2)
  • January 2020 (1)
  • December 2019 (3)
  • November 2019 (1)
  • October 2019 (2)
  • September 2019 (1)
  • August 2019 (3)
  • July 2019 (2)
  • June 2019 (3)
  • May 2019 (2)
  • April 2019 (1)
  • March 2019 (2)
  • February 2019 (1)
  • January 2019 (1)
  • December 2018 (2)
  • November 2018 (1)
  • September 2018 (2)
  • July 2018 (1)
  • March 2018 (1)
  • January 2018 (1)
  • May 2017 (1)
  • January 2017 (1)
  • December 2016 (1)
  • November 2016 (1)
  • September 2016 (2)
  • August 2016 (2)
  • July 2016 (1)
  • May 2016 (2)
  • March 2016 (2)
  • February 2016 (1)
  • January 2016 (1)
  • October 2015 (2)
  • September 2015 (2)
  • August 2015 (3)
  • July 2015 (3)
  • May 2015 (1)
  • April 2015 (1)
  • March 2015 (2)
  • February 2015 (1)
  • January 2015 (2)
  • December 2014 (1)
  • November 2014 (2)
  • October 2014 (5)
  • September 2014 (3)
  • August 2014 (3)
  • July 2014 (1)
  • April 2014 (3)

RSS FT News Feed

  • UK hits key figures in Russian oil trade with sanctions
  • Trump signals openness to cutting China tariffs ahead of Geneva talks
  • An American pope for the global south
  • Royal Navy head stepped back after probe into relationship with subordinate
  • Brace for disorder as the great power shifts begin

Sign up to our newsletter

Useful links

  • Home
  • About us
  • Consultation
  • Blog & News
  • Press
  • Contact us

Solutions

  • Insolvency Support
  • Mediation
  • Negotiated Settlements
  • Personal Bankruptcy Experts

Social

  • Facebook
  • Twitter
  • LinkedIn

The Old Rectory Business Centre
Springhead Road
Northfleet
Kent
DA11 8HN

T: 0845 680 7217
E: enquiries@jamesrosa.co.uk

© 2018 James Rosa Associates Ltd. All rights reserved.