INDIVIDUAL INSOLVENCIES
There were 27,087 individual insolvencies in England and Wales in the third quarter of 2008 on a seasonally adjusted basis. This was an increase of 8.8% on the previous quarter and an increase of 4.6% on the same period a year ago. 
This was made up of 17,341 bankruptcies (which were up 12.1% on the [...]

A company offering advice and services to those in financial hardship has been wound-up by the High Court in Liverpool following an investigation by the Companies Investigation Branch (CIB) of the Insolvency Service. Abacrombie & Co Limited, based in Sheffield and operating throughout England & Wales commenced trading in 2003 purportedly carrying on business as [...]

DEBT RELIEF ORDERS
FREQUENTLY ASKED QUESTIONS
 
The following is correct as at March 2008 but note that processes and legislation are currently under development and the details below may change.
 
When will debt relief orders (DROs) be available?
 
It is anticipated that debt relief orders will come into force in April 2009.
 
Who might DROs be suitable for?
 
People with relatively [...]

There were 24,553 individual insolvencies in England and Wales in the second quarter of 2008 on a seasonally adjusted basis. This was a decrease of 2.0% on the previous quarter and a decrease of 8.3% on the same period a year ago. 
This was made up of 15,297 bankruptcies, a decrease of 1.3% on the previous [...]

The phone is ringing off the hook. Loads of people with debt problems, very few of them with any genuine disposible income. We are not reliant on IVA’s for our income as it happens, if we have a client with a desire and the ability to maintain an IVA, then we have a preferred partner [...]

The House of Lords has now ruled in a definitive manner to clarify the position in relation to matrimonial agreements entered into before one of the parties becomes bankrupt. The case in question was Haines v Hill
The facts in the the case were that Mr and Mrs Haines were married in 1991. The only asset in [...]

 
In their first trading statement since being Nationalised Northern Rock has announced that it has paid back to the Government some £9.4b, leaving it owing £17.5b. It has also revealed that it will subscribe to some £3b in new shares to bolster the ailing banks balance sheet. Whether the tax power will ever see this [...]

 
In a surprise development the Insolvency Service has revealed that the number of people declared insolvent in England and Wales fell slightly in the three months to June.
The number of individual insolvencies stood at 24,553, which was 2% down compared with the previous three months and 8.3% below the same period in 2007. Company liquidations [...]

HBOS has announced to the stockmarket that its profits before tax have fallen 72% in the first six months of the year.
Blame has been out on the credit crunch and the worsening economic climate. HBOS stated that the rise in energy costs coupled with a housing slowdown will mean that things will deteriorate even [...]

New research from the Insolvency Practitioners body R3 has unsurprisingly concluded that the number of consumers expecting to either petition for their own bankruptcy or enter into an IVA, due to the inability to manage their debts to rise significantly in the coming year. This conclusion mirrors what we are finding here at Help With [...]