Credit, Collections & Insolvency News
A rise in interest rates will result in monthly repayment shocks for millions of homeowners who are already living on a tight budget, according to figures from free debt advice provider PayPlan. PayPlan has launched an interest rate calculator this week to help clients find out how a potential mortgage rate rise might affect them.…
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New research suggests over six-and-a-half million people in the UK are wasting billions of pounds every year on regular payments that should be cancelled. These money worries are also the top source of stress for 15% of young adults. Digital banking service B’s independent research shows 1 in 8 (13%) people in the UK have…
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Social media can be a wonderful platform. You ask a question and get loads of advice – as well as a few trying to sell you their stuff to solve your problem. The problem is that the advice you get isn’t always from someone as informed as they might be. It may not then, be…
Read moreMost creditors are familiar with the Late Payment of Commercial Debts (Interest) Act 1998 which entitles them to interest for late payments and the right to claim reasonable debt recovery costs unless the supplier has acted unreasonably. In addition to the foregoing creditors can also charge compensation for the recovery of a debt. The Late…
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New research has revealed that the average person works 82% (299 days – 26 October) of the year just to cover their household bills – with more than a third (35%) admitting that they are only just managing to cope with rising costs. The findings of the new poll commissioned by GoCompare, asked 2,000 UK…
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These are by far and away the two questions I’m most frequently asked. As the issue of late payments gets worse for SMEs, councils struggle against cuts, and landlords face rising tax burdens, it’s becoming more and more important that we address them. In many ways, the two questions overlap. So whether you’re owed a…
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