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Latest News
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Latest News from Debt Rescue Now - Statutory Debt Management Schemes...
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June 2009
The Ministry of Justice/Insolvency Service recently held a presentation at a Stakeholder Event regarding their thinking on introducing Statutory Debt Management Scheme(s) under powers in the Tribunals Courts & Enforcement Act 2007. The present intention is to issue a consultation paper at the end of June, for which there is likely to be the minimum 12 weeks for responses before proceeding, should Ministers agree, to putting the Scheme(s) in place in April 2010.
Bev Budsworth, managing director of The Debt Advisor, commented: “I think the timetable is hugely optimistic but it would be fabulous to have a regulated debt management scheme by April 2010”.
It is so important that those involved in the debt industry do get involved in providing feedback for this consultation. Bev Budsworth is a stakeholder in her own right but will also be contributing to the consultation as part of the Board of the Debt Resolution Forum and also as a member of ...Read Full Story |
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Latest News from Debt Rescue Now - Statutory Debt Management Schemes...
|
June 2009
The Ministry of Justice/Insolvency Service recently held a presentation at a Stakeholder Event regarding their thinking on introducing Statutory Debt Management Scheme(s) under powers in the Tribunals Courts & Enforcement Act 2007. The present intention is to issue a consultation paper at the end of June, for which there is likely to be the minimum 12 weeks for responses before proceeding, should Ministers agree, to putting the Scheme(s) in place in April 2010.
Bev Budsworth, managing director of The Debt Advisor, commented: “I think the timetable is hugely optimistic but it would be fabulous to have a regulated debt management scheme by April 2010”.
It is so important that those involved in the debt industry do get involved in providing feedback for this consultation. Bev Budsworth is a stakeholder in her own right but will also be contributing to the consultation as part of the Board of the Debt Resolution Forum and also as a member of ...Read Full Story |
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Latest News from Debt Rescue Now - Loss of income becomes number one reason for asking for Debt Management help
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Wednesday 10th June 2009
Analysis from EuroDebt reveals that more than 1 in 4 needed urgent help as a result of ‘loss of income’
Leading debt management provider, EuroDebt Financial Services, has published its report of the reasons for clients signing up to a Debt Management Plan (DMP) for the period December 2008 to May 2009. Based on a sample of more than 4,000, the analysis has revealed that ‘loss of income’ became the main reason for them asking for help. This is the first time this reason has taken the top spot in the EuroDebt table.
“For a number of years the main reason for people coming to us for help has been a spiraling of multiple debts, making it impossible for them to keep their head above water”, confirmed Kevin Still, Director, EuroDebt. “However, what we have seen for the first time in our latest analysis is ‘loss of income’ or redundancy being the primary reason for clients coming to us. This excludes those clients that are already ...Read Full Story |
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