Debt management weekly round-up

Coming off the news from the Insolvency Service that more people in England & Wales are choosing an IVA as the preferred debt solution for them, this week has raised fears that those numbers could rise again in the next quarter.

Nurses and teachers could be handed thousands of pounds of debt once the new graduate tax is introduced.

The University and College Union noted that doctors could be worst hit by a 5 per cent levy on wages, to the tune of £70,000 over their career.

Meanwhile, despite the numbers out of work going down last month, the Chartered Institute of Personnel and Development (CIPD) are concerned that more will be left to seek debt help in future months.

According to the group, a third of employers expect to cut the number of jobs available over the next three months.

And people waiting for compensation for mis-sold Payment Protection Insurance may need debt management help.

The Financial Services Authority has announced that it expects 2.75 million people to seek compensation, which could lead to a long backlog at the Financial Ombudsman Service.

Some good news, the Council of Mortgage Lenders (CML) has revised down repossession forecasts for 2010 as a whole from 53,000 to 39,000. They also expect £10 billion less gross lending to take place this year than when the CML last issued their forecast in November 2009.

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 ...