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Bankruptcy is a very sore subject, that many people do not want to consider. More and more people in the USA and the UK are filing for bankruptcy, not knowing that there are easier options than losing everything.

How to avoid bankruptcy:

1. Financial activities are monitored closely by our tax offices, you may not think that, but when you put money into the bank, the tax office automatically receives notification of the transaction. Always pay tax on anything you earn, or you will find yourself being caught out later down the line

Continue reading ‘My Alternatives to Bankruptcy’ »

If you need help with debt, and you decide that you do not want an IVA or to do debt management, you need to consider bankruptcy. This is a quick guide to what you need to do.

In order to declare yourself bankrupt, you must be insolvent. That means that your liabilities must be greater than your assets and/or you cannot pay your debts as and when they fall due. The legislation says that you must owe more than £750. This was set back in 1986, and so is out of date. Everybody who goes bankrupt owes many times this amount.

If you are insolvent, you next need to ascertain which is your local bankruptcy court. Not every court in the UK has bankruptcy jurisdiction. You can get the information on which court you need to apply to from the Courts Service at your local court.

When you have decided on your local court, you need to get hold of a bankruptcy pack. You can down load these on line. Alternatively call your local court and they should send you a pack or you can collect the pack from them.

Your pack will contain, a Petition, and a statement of affairs, plus a guide to filling the forms in.

Continue reading ‘What is the Process For Those That Need Help With Debt and Choose Bankruptcy?’ »

What To Do When You Need Instant  Cash Fast!

Need cash fast? Household emergency? Received a final demand bill in the post? Short of petrol? Boiler broken down again…? There’s no end to the frustrating and expensive bill scenarios that can occur as you’re waiting for that paycheque to finally drop through your door – and it certainly always seems to be the case that all the domestic emergencies and short-notice bills hit exactly when your budget has run out!

What are your options?

So when you need cash fast, what should you do? Well there are various options really. You can ignore the bills and domestic emergencies – but it’s not really a practical approach, as you could find yourself in real trouble if you ignore last demands or a freezing house! When you need cash you could also risk going overdrawn – but then the charges for overdraft use can be very high indeed and they end up cutting heavily into your pay when it does arrive in your account! Continue reading ‘Payday Bank – How You Can Get Instant Delivery Payday Loans In The Uk’ »

As the Yorkshire Building Society is about to take over the Chelsea Building Society I thought it would be worth taking a look at what is happening in the mutual building society sector in the UK.

Just to explain the term, mutual refers to a financial institution where the savers and borrowers actually own the capital of the business and no shareholders exist. The organisation is run for the benefit of its members and not shareholders.

The current economic climate and the continuing fallout from the “credit crunch” is forcing some of the smaller societies and some of the not so small building societies to seek the help of larger more stable institutions to ensure they are protecting the interests of their members.

There have been a number of high profile rescues by the Nationwide Building Society, the UK’s largest mutual society in the last 12 months. They have had to step in to rescue the Cheshire, the Derbyshire and the Dunfermline Building Societies. Continue reading ‘Building Societies in the UK – What Does the Future Hold?’ »