Updated publications from The Insolvency Service
The Insolvency Service publishes a range of guides to help people understand insolvency, and the various services available to them. Currently most of the documents are only available as Word documents or as a PDF, but the new documents will be available as web based content. Whilst most people should have been able to […]
Debt begins to rise for UK households
The number of households struggling with problem debt grew by a quarter between 2012 and last year, as stagnating wages forced a growing number to borrow to get by, according to the TUC. By 2014, 3.2 million families were spending at least 25% of their gross monthly pay on servicing unsecured debts, the definition of […]
North West leads way for business rescue
The North West has the highest rate of business rescue in the country with half of businesses (52%) declared insolvent surviving in some form, according to new report from the insolvency trade body R3. The report, Why Insolvency Matters: The insolvency profession’s value to the North West, reveals that out of approximately 2,391 businesses in […]
Bankruptcy rates at lowest level for 15 years
Just one person was made bankrupt in the City of London in 2014, compared to 101 in Blackpool, according to figures from the Insolvency Service which reveal a deep north-south divide in debt problems. The total number of personal bankruptcies in England and Wales peaked during the financial crisis in 2009, but has fallen dramatically and […]
Sonya Brannigan – Finalist in the EVA Awards
We are proud to announce that our very own Sonya Brannigan is a finalist in the Business and Personal Financial Services category of the upcoming Eva\’s Awards. The awards are extremely highly regarded and recognise excellence in a range of categories for women in business. To be a finalist is a cracking achievement on Sonya\’s […]
Coffee Morning in aid of Macmillan Cancer
On Friday 25th September 2015 James from our Chesterfield Office is joining the World\’s Biggest Coffee Morning by jointly hosting an event at The Little Castle, Enterprise Way, Duckmanton, Chesterfield, S44 5HP to fundraise for Macmillan Cancer Support. Macmillan offer valuable support to those directly facing cancer and to their families, and last year raised […]
Insolvency law v Employment law – who wins and who pays?
Insolvency Practitioners face problems trying to comply with employment law on many cases due to the strict interpretation of the rules on consultation before making redundancies. This has led to several high profile Employment Tribunal cases where Protective Awards (an award of up to 90 days’ gross pay per affected employee for an employer’s failure […]
It is so easy to get in to debt
A recent article in the Guardian tells the sorry tale of a gentleman who upon going through his recently deceased father’s affairs, discovered credit card debts of £80,000. This was a complete shock to him as not only was he unaware that his father had had multiple credit cards, he was horrified to discover […]