Finding Relief from Financial Pressures – Practical Support for Overcoming Debt Challenges
Debt can place a heavy burden on both individuals and businesses, impacting financial stability and increasing stress. Financial difficulties may arise from personal obligations, business debts, or a mix of both, making it crucial to approach debt management strategically. We specialise in providing solutions designed to help clients regain control of their finances, protect assets, […]
Home Repossessions Rise as Households Face Economic Strain
The first quarter of 2024 has witnessed a notable increase in home repossessions across the UK, exacerbated by the continuing economic pressures on households. According to recent statistics from UK Finance, there was a 36% increase in the repossession of homeowner-mortgaged properties, rising to 870 cases. This figure represents a significant uptick from the previous […]
UK Businesses Under Severe Financial Pressure Amid Economic Headwinds
In the closing months of 2023, a staggering 47,000 UK companies found themselves teetering on the edge of insolvency, with a 25% surge in businesses grappling with \”critical\” financial issues, a recent study reveals. This worrying trend marks the second quarter in a row where critical financial distress has amplified by a quarter, according to […]
Reflecting on Debt and Insolvency in the UK: A 2023 Overview
Introduction The past year has been pivotal for the landscape of debt and insolvency in the UK. With the economy still rebounding from the effects of the pandemic and adjusting to new global challenges, 2023 witnessed significant developments in these areas. This article provides a comprehensive review of the trends, changes, and implications in the […]
Dissolving a company with debts
Dissolving a company with outstanding debts is a topic often surrounded by confusion and concern. The formal process of closing a company, known as dissolution, involves removing the company from the Companies House register, either through a strike-off application or post-liquidation or administration. Legal Obligations to Creditors It\’s important to understand that creditors must be […]
Debt Assignment
You might be familiar with the phrase \”debt assignment\” in financial circles, but its implications are worth understanding. Debt assignment occurs when your original lender transfers the debt to a third party, who then assumes the responsibility for collecting the owed amount. It\’s not merely an administrative change; it\’s a significant shift that you need […]
Be careful where you take your advice
There are probably very few adults in the UK with no debt at all. Fortunately, most adults can manage their debts capably even if they’d prefer to be without them. Unfortunately, some adults struggle with their debts. They may learn to manage them with the help but only if they get the right help from […]
What can you do if you can’t pay your debts
When you take on debt, you make a commitment. As long as you can fulfil that commitment, everyone is happy. If, however, you start to struggle to make that commitment, then neither you nor the lender are happy. Fortunately, there are many ways to resolve these situations and it’s in the lender’s best interest to […]
Avalanching Vs Snowballing, Which Is Right For You?
Dealing with debt can be a major challenge. Adopting the right strategy can make it a lot easier. The two main strategies for dealing with debt are usually called avalanching and snowballing. Here is a quick guide to them and how they compare so you can choose which is right for you. Avalanching With the […]
Flybe – What Happened?
Flybe recently collapsed for the second time in (just) under three years. As with its first collapse, the pandemic will be publicly blamed. Also as with its first collapse, this is very far from being the whole truth. Flybe’s second collapse happened for much the same reasons as its first collapse. Those reasons go way […]