By 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 […]
Read moreBy Mr Bankruptcy 29th October 2020 Lockdown has seen the rise of a hoard of zombie companies across the country. The Guardian newspaper reported that 20% of businesses in Britain are zombie companies; could yours be one of them? What is a zombie company? A zombie company is the name given to businesses that can’t […]
Read moreBy Mr Bankruptcy 30th September 2020 Being made redundant is a situation many people may soon be facing. Suddenly losing your job throws all sorts of challenges and uncertainty in your path even when you think your life is in order. It’s even more difficult if you’re already in debt, when your debt can become […]
Read moreBy Mr Bankruptcy 22nd September 2020 At a time when many people are feeling financial pressure it can be tempting to go for a quick fix to a short-term cash flow problem, but are payday loans the best option? Why would you consider a payday loan? Payday loans are known for being expensive in the […]
Read moreBy Mr Bankruptcy 17th August 2020 Worry about unmanageable debt could right now be dominating every waking moment of someone you know or love. A recent report by the Money and Mental Health Policy Institute referred to debt as a “Silent Killer” because it can so often be the driver to a suicide attempt. Unfortunately, […]
Read moreBy Mr Bankruptcy 29th July 2020 Figures back in January showed that the average debt per adult in the UK was £31,845, which is 112% of average earnings. If you were a country, you’d have a slightly smaller debt problem than Jamaica but a worse one than the USA. These figures show not only the […]
Read moreBy Mr Bankruptcy 10th July 2020 Many industries and professions have their own specific words and terminology. For those who aren’t a regular part of that industry, jargon can be an impregnable barrier to understanding what’s happening and what you need to do. If you find yourself with an unmanageable debt for the first time, […]
Read moreBy Mr Bankruptcy 30th June 2020 As we see lockdown measures easing, the Government is looking to drive a bounce back in the UK economy, but figures reported in June by the OECD state that our economy is set to decline by 11.5% in 2020. Such an economic decline suggests that many businesses will have […]
Read moreBy Mr Bankruptcy 18th June 2020 In April, The Guardian reported the economic impact of the lockdown would mean households will see a monthly fall in disposable income of £515 per household. In addition, between the 20 and 30 March 2020, 49.6% of people in Great Britain reported “high” anxiety, the most common causes being […]
Read moreBy Mr Bankruptcy 27th May 2020 Many businesses are trying to adapt to new ways of working during lockdown and for those which are also managing existing debts, this additional burden is taking a toll. For many, lockdown is exacerbating debt problems and it can be hard to know what to do next. Managing debt […]
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