Debt management weekly round-up

The budget may have been last week, but there’s been a lot of talk about the implications of the government’s ‘axe and tax’ regime.

Although not mentioned in the budget itself, an unnamed minister has said it will be “almost certain” that older people will lose some of their benefits.

Winter fuel payments, bus passes and free TV licences may all go, which Atlantic Financial Management director Kevin Still says could have a “profound impact on household budgets”.

Bankruptcy trade body R3 have predicted that there will be a 10 per cent increase in the amount of people becoming insolvent and possibly requiring an IVA. This comes as new figures from Credit action show that a person is made insolvent or bankrupt every 51 seconds.

There could be some good news though, after Which? declared that banks should do more to help consumers with financial problems or who need debt advice.

The consumer champion’s chief executive Peter Vicary-Smith remarked that “banks have been allowed to ride roughshod over their customers for too long.”

Debt management weekly roundup

11/03/2011

The theme of the news in the realm of debt management this week, seems to be about how people with d ...

Debt management weekly roundup

04/03/2011

The big news in the field of personal finance and debt management this week has been the European Co ...

Debt management weekly roundup

25/02/2011

It appears debt problems could well be made worse by Brits underestimating the cost of life's big ev ...

Debt management weekly roundup

18/02/2011

Debt problems are still rife in the UK in 2011, despite the recession officially ending several mont ...