By Mr Bankruptcy 17th June 2021 The ban on winding up petitions during the Covid-19 pandemic has been a lifeline for many businesses. Yet, with this ban now due to be lifted at the end of September, are many businesses facing a financial storm they aren’t yet ready to weather? The impact of banning winding […]
Read moreBy Mr Bankruptcy 2nd June 2021 People in the UK owed £1,712.9 billion at the end of March 2021; the Citizen Advice Bureau in England and Wales was dealing with 1.673 debt issues every day in the year to April 2021. For many people struggling with unmanageable debt, being able to talk about it should […]
Read moreBy Mr Bankruptcy 20th May 2021 Earlier this month the government introduced a scheme to provide “breathing space” to help those in debt to get on top of their situation. It is hoped this year alone, 700,000 people who are in debt could benefit from the scheme, with more than £400 million in extra debts […]
Read moreBy Mr Bankruptcy 29th April 2021 Did you know that it may be possible to negotiate a settlement with your creditors? This could clear your debts quicker than you had thought possible, so that you can move on with a debt free life. What is a negotiated settlement? If you have a lump sum of […]
Read moreBy Mr Bankruptcy 30th March 2021 The popularity of ‘buy now, pay later’ schemes has soared during lockdown, with 5 million people in the UK taking on this kind of financial commitment last year. Two questions arise in my mind: Why have they become so much more popular and – more importantly – what do […]
Read moreBy Mr Bankruptcy 23rd March 2021 According to the Chancellor of the Exchequer, the aim of his 2021 budget was to ensure that it “meets the moment”. For the Government, this means a budget that supports jobs and businesses as the restrictions around the pandemic lift and we return to a more normal way of […]
Read moreBy Mr Bankruptcy 17th February 2021 Making the changes required to take control of an unmanageable debt problem is tough. It requires a change in both spending and saving habits. However, the one thing harder to change than a habit is a belief, so if you’ve already come to the conclusion that you must bring […]
Read moreBy Mr Bankruptcy 29th January 2021 The Covid pandemic has had a serious impact on individuals and businesses, and many people are going to need help with unmanageable debt in the months and even years to come. The true extent of the effects of lockdowns and a restricted economy is now being understood and the […]
Read moreBy Mr Bankruptcy 11th December 2020 Was it only a year ago when we were talking about the real cost of Christmas, and how the debt burden for many people increases? Now, after so many more people are facing financial uncertainty, the fear that Christmas will only exacerbate debt problems will only have increased. But […]
Read moreBy Mr Bankruptcy 26th November 2020 Lockdown followed by the impact of Covid-19 restrictions have led to many people losing their income or seeing it severely reduced overnight. Banks and lenders have reacted by introducing short term payment holidays to support their customers while they adjust to their new situation. The time period for payment […]
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