Marshman Price - Business Rescue & Insolvency, Financial Advice News
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The Credit Crunch – Why this could lead to more solvent liquidations As a result of the Credit Crunch how many businesses now find themselves in one of the following situations... It’s all just too much hassle! Over the last 9 months, for the first time, we have been approached by a number of owners of small businesses which are solvent... Corporate Restructuring For Businesses In Trouble Businesses in financial crisis may be forced to restructure as refinancing their way out of trouble is becoming tougher... More pensioners become insolvent Insolvency expert Neil Marshman from Wellingborough firm MarshmanPrice says that the rapid increase in bankruptcy numbers is rolling through into the number of pensioners who have become insolvent... Calls for change to credit market The Conservative Party has called for changes to the home credit market. Shadow Chancellor, George Osborne, unveiled the Tories' social responsibility template to tackle growing debt and financial exclusion at the party's debt summit. There is increasing concern over the level of personal debt in the UK, which is growing by about £1m every four minutes and reached £1,200bn - more than the country's total gross domestic product... MPs back 'financial inclusion' for the worst off The poor pay more for their loans than the better off, according to a committee of MPs that has called on the government to crack down on illegal moneylenders and introduce new laws for credit unions... Charity engulfed by people with heavy debts The number of consumers with spiralling debts jumped by more than 10% over the last year according to Citizens Advice. The charity said its advice bureaux handled 1.4m debt problems in the year to April 2006, an increase of 11% on the previous year... IVAs fuel huge increase in insolvencies The number of people becoming insolvent in England and Wales has jumped by 55% over the past year, according to official figures released in November. More than 27,000 people filed for insolvency in the third quarter of 2006. This was an increase of 5.7% on the previous quarter and up 55.4% on the same period a year ago. Behind the figures is a dramatic increase in the numbers of people opting for controversial Individual Voluntary Arrangements (IVAs)... Blame lenders for bad debt, says minister Lenders have only themselves to blame for rising levels of bad debts and the government does not intend to regulate companies offering insolvency agreements, a government minister has said... The mortgage market remains robust but consumer credit levels continue to suffer in the face of rising personal debt, according to new banking figures. The British Bankers' Association (BBA) said overall mortgage lending last month was recorded at £18.9bn... Council tax rebels face risk of bankruptcy A crackdown by local authorities on council tax defaulters has led to more than a five-fold increase in the number of people threatened with bankruptcy, according to a report in The Times... Business debt defaults expected to surge Finance directors have been warned that surging levels of debt and rising interest rates will see an increase in the number of debt defaults in the next year... |
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