By Mr Bankruptcy 28th October 2026 For three years after COVID, HMRC was patient. Winding-up petitions were paused, “Time to Pay” was granted over the phone, and businesses were given time to recover. But that patience has ended. In the year to March 2025, HMRC applied to wind up 4,761 businesses for unpaid tax – […]
Read moreBy Mr Bankruptcy 9th October 2026 When you’re in serious debt, it can feel like you’re no longer working for yourself, your family or your business – you’re working for your lenders. Every sale you make, each wage you draw is swallowed up by repayments, interest and bank charges. That feeling is common, especially among […]
Read moreBy Mr Bankruptcy 23rd September 2026 If you’ve got multiple debts, you’ve probably asked yourself the same question that many of my clients have asked: where do I start? Two ways dominate debt-free success stories I’ve seen: the ‘Snowball’ and the ‘Avalanche’ methods. One is mathematically optima; the other is psychologically powerful. Understanding which one […]
Read moreBy Mr Bankruptcy 2nd September 2026 Last year according to the Office for National Statistics, the British Government borrowed £128 billion to pay for public services. But interest payments for existing loans totalled over £130 billion. We’re almost in the position where borrowing and interest payments cancel each other out, without even denting the principal. […]
Read moreBy Mr Bankruptcy 19th August 2026 We normally associate winter with high bills – heating and Christmas spending – but the warmer months are now bringing their own financial challenges. What I call the ‘summer squeeze’ is an increasingly common phenomenon; rising electricity bills for running electric fans and air conditioning are combining with the […]
Read moreBy Mr Bankruptcy 30th June 2026 I was talking to a colleague recently about loan personal guarantees and he turned around and said: “Why would anyone risk their own home for a loan?” Like him, many people think that putting up the family home as a guarantee to secure a business loan is scary, madness, […]
Read moreBy Mr Bankruptcy 17th June 2026 The UK is facing a quiet crisis behind closed front doors. Across the country, millions of households are locked in a daily battle with rising bills, maxed-out credit cards, and the suffocating weight of unmanageable debt. This isn’t just a problem for low-income families anymore. The household debt epidemic […]
Read moreBy Mr Bankruptcy 1st June 2026 There was a time when going into debt was a last resort. It was a serious decision for major milestones in life, like buying a home. Today though, for millions of Britons, debt is no longer the preserve of major financial decisions. Nowadays, bank loans, credit cards, overdrafts, payday […]
Read moreBy Mr Bankruptcy 19th May 2026 For too many company directors, the post has been transformed from routine administration into a source of dread. It starts with polite payment reminders, escalates to stern final notices, before becoming a barrage of red ink demands or threats of legal action. When multiple creditors are circling (HMRC, commercial […]
Read moreBy Mr Bankruptcy 30th April 2026 If you’re making minimum payments on your credit cards or loans, but the balances never seem to drop, you’re not alone. This year, with higher living costs and interest rates still hurting, thousands of people across the country are stuck in the same trap. Minimum payments can keep you […]
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