Monthly Archives: April 2011

Rise in local council use of debt recovery agencies

According to recent figures obtained via freedom of information requests by the civil liberties campaign group Big Brother Watch claims that 318 local authorities in England, Scotland and Wales engaged third–party debt recovery agencies with a total of 5,939,003 cases between 2007-08 and 2009-10. The figures are nothing short of staggering and don’t even include those cases [...]
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Loss of Income is biggest cause of debt problems

Consumer debt in the UK is being accelerated by the changing and challenging job market according to the latest analysis from EuroDebt Financial Services. According to EuroDebt, loss of income is the biggest single factor for people entering into a Debt Management Plan (DMP) or IVA (Individual Voluntary Arrangement) and over a quarter of its clients [...]
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OFT v misleading debt management firms

The OFT has found that four businesses and their associates who targeted consumers with misleading unsolicited mailings may have mis-sold Individual Voluntary Arrangements (IVA) to consumers. As a result the OFT has revoked the consumer credit licences of Bankruptcy Limited (BL), Intl Marketing Limited (IML), UK Bankruptcy Limited (UKB) and UK Mortgage Link Limited (UKML). The companies [...]
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CSA says Debt Collection and Debt Recovery Industry needs new rule book

The Debt Collection and Debt Recovery Trade body, the Credit Services Association (CSA) has called for the creation of a new ‘rule book’ in order to help the proposed Financial Conduct Authority (FCA) regulate debt collection agencies in the future. Dr Roger Lucas, President of the CSA said “The Association has a highly successful and productive [...]
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Liverpool bar entrepreneur made bankrupt with debts of £2.6m

In late 2010 the person largely cited as pioneering Liverpool’s thriving bar scene has been declared bankrupt with debts of £2.6m. Rob Gutmann has seen his empire of stylish Liverpool city centre bars and restaurants slip from his fingers over the past few years. Many have either closed or been sold as a result of [...]
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