http://www.wilson-nesbitt.com/articles/ Wilson Nesbitt Solicitors - Debt Recovery News RSS feed en-gb reception@wilson-nesbitt.co.uk,chris@flamegreen.com info@flamegreen.com 30 http://www.wilson-nesbitt.com/articles/1812/12032010/northern_rock_writes_off_%A31billion_in_bad_debt.html The Nationalised bank Northern Rock experienced a 17% increase in bad debt of defaulting customers in 2009, resulting in a total write-off bill of £1billion. An increasing number of the banks customers fell into difficulty with payments, particularly in the first half of 2009,... Fri, 12 Mar 2010 00:00:00 UTC http://www.wilson-nesbitt.com/articles/1813/12032010/insolvency_-_paying_for_christmas_in_march.html Insolvency trade body R3 have released figures today that suggest that nearly one third of personal insolvencies confirmed in March are as a direct result of big-spending during the festive period. It is expected that there will be over 150,000 cases of personal insolvency in the UK this... Fri, 12 Mar 2010 00:00:00 UTC http://www.wilson-nesbitt.com/articles/1749/08022010/debt_charities_unable_to_cope_with_consumer_enquiries.html The National Audit Office (NAO) research showed the Government’s free debt counselling agencies struggled to cope with the number of consumers from Northern Ireland and the rest of the UK requesting advice during the year to July 2009. There was an estimated 28% increase in consumer... Mon, 8 Feb 2010 00:00:00 UTC http://www.wilson-nesbitt.com/articles/1746/05022010/record_number_of_people_declared_insolvent_in_2009.html Figures released by the Insolvency Service show that a record number of people in England and Wales were declared insolvent during 2009. 134,142 people went bankrupt, sought debt relief, or took out an Individual Voluntary Arrangement (IVA) compared to only 107,288 which was the previous record... Fri, 5 Feb 2010 00:00:00 UTC http://www.wilson-nesbitt.com/articles/1710/19012010/financial_distress_to_increase_for_businesses_during_recession.html Begbies Traynor, have today released their latest Red Flag alert which is a monitor of early warning signs of company distress, and will make for uncomfortable reading among UK business owners. The report shows that more than 140,000 companies fell into significant and critical financial... Tue, 19 Jan 2010 00:00:00 UTC http://www.wilson-nesbitt.com/articles/1630/01122009/new_service_launched_by_wilson_nesbitt_a_first_for_northern_ireland.html In a first for Northern Ireland, Wilson Nesbitt Solicitors of Belfast have launched their new business law guide and document builder website. People visiting www.wilsonnesbittonline.co.uk will have free access to a Northern Ireland compliant business law guide and a document builder. The site... Tue, 1 Dec 2009 00:00:00 UTC http://www.wilson-nesbitt.com/articles/1524/01072009/uk_debt_hits_%C2%A31459bn.html The total amount of personal debt in the UK and Northern Ireland has hit £1,459 billion, according to new figures.Credit Action's latest findings, which could impact on the number of firms using debt recovery services, revealed that total secured lending on dwellings at the end of... Wed, 1 Jul 2009 13:52:15 UTC http://www.wilson-nesbitt.com/articles/1484/20042009/ni_debt_soars_as_recession_continues.html Solicitors in Belfast may increasingly find themselves dealing with debt-related matters following the revelation that credit card debt in Northern Ireland (NI) has soared to unprecedented levels, it has emerged.According to data from debt charity credit action, individuals in NI now owe more... Mon, 20 Apr 2009 13:47:39 UTC http://www.wilson-nesbitt.com/articles/1483/17042009/consumers_switch_to_debt_reduction_due_to_financial_turmoil.html New figures from Unbiased.co.uk have revealed how 2008 saw British consumers, including Northern Ireland (NI) residents, switch from saving to debt repayment as the credit crunch took hold of the economy.Savings rose to a high of £36 billion in the first half of the year as 66p was... Fri, 17 Apr 2009 14:24:50 UTC http://www.wilson-nesbitt.com/articles/1459/17032009/recession_hitting_northern_ireland_hard.html Some parts of the UK are being affected to a greater extent than others by the recession, a BBC Radio 4 investigation has found.The World at One programme conducted an analysis of local authority areas and solicitors in Northern Ireland may be interested to learn that the three highest percentage... Tue, 17 Mar 2009 19:02:00 UTC http://www.wilson-nesbitt.com/articles/1438/25022009/parents_in_debt_as_children_ask_for_bailouts.html Two million parents in the UK have been pushed into debt as a result of bailing out their children with financial help, Scottish Widows Savings and Investments annual Report has revealed.More than half (56 per cent) of parents with children above 16 have given or loaned money to their adult... Wed, 25 Feb 2009 13:45:00 UTC http://www.wilson-nesbitt.com/articles/1427/18022009/need_for_financial_advice_up_as_credit_crisis_continues.html New figures show that the credit crunch has led to an increase in the number of people seeking professional financial advice, with a 20 per cent increase noted in the last four months alone. Research from professional advice website Unbiased.co.uk shows that 34 per cent of British consumers are... Wed, 18 Feb 2009 17:00:00 UTC http://www.wilson-nesbitt.com/articles/1413/10022009/debt_advice_being_offered_by_bankers.html Bankers and lenders have changed their attitudes towards lending and are now more concerned with offering debt advice to consumers, it has been stated.The UK Insolvency Helpline, which is made up of solicitors and financial advisers, states that the banks are no longer desperate to offer lending... Tue, 10 Feb 2009 16:45:00 UTC http://www.wilson-nesbitt.com/articles/1396/02022009/find_out_what_options_you_have_investors_told.html Seeking debt advice as early as possible in order to find out what options are available is vital in the current economic environment, according to the Money Advice Trust.Homeowners facing difficulty with their mortgage payments as property values decline have been advised to seek advice from an... Mon, 2 Feb 2009 13:55:00 UTC http://www.wilson-nesbitt.com/articles/1390/28012009/more_in_need_of_debt_advice_due_to_downturn.html Demand for debt advice is on the rise as declining property values, redundancies and the recession continue to push people into financial difficulty necessitating the services of a solicitor for some.According to Beccy Boden Wilks, a spokesperson for the Money Advice Trust, the increasing... Wed, 28 Jan 2009 14:15:00 UTC http://www.wilson-nesbitt.com/articles/1371/15012009/overdependence_on_credit_source_of_debt_expert_says.html Solicitors in Northern Ireland may be interested to know that many people in the province are finding themselves in financial difficulty because of overdependence on credit.This is the opinion of debt expert Rosemary McCormack of the Citizens Advice Bureau (CAB) in Londonderry, who says the... Thu, 15 Jan 2009 13:55:00 UTC http://www.wilson-nesbitt.com/articles/1352/06012009/half_not_seeking_help_on_debt_despite_concerns.html New research shows that half of those concerned with debt are not asking for advice on how to get their money woes sorted out, despite growing financial pressure, solicitors in Northern Ireland may be interested to hear.Economic worries have prompted some people to cut back on loans, credit cards... Tue, 6 Jan 2009 16:00:00 UTC http://www.wilson-nesbitt.com/articles/1340/24122008/repossessions_feared_in_northern_ireland.html Hundreds of families in Northern Ireland are fearing that their Christmas could turn out to be their worst ever, as they believe they are in danger of having their homes repossessed.The Belfast Telegraph has learned that in recent weeks the number of homeowners seeking professional help from such... Wed, 24 Dec 2008 14:00:00 UTC http://www.wilson-nesbitt.com/articles/1319/10122008/quarter_of_the_population_in_financial_trouble.html The threat of bankruptcy and repossession continues to grow across the UK with a quarter of the population now struggling to keep a handle on finances, solicitors in Belfast may want to know.Research from AXA shows that 6.1 million people have no savings left at all and over 3.7 million people... Wed, 10 Dec 2008 16:40:00 UTC http://www.wilson-nesbitt.com/articles/1308/05122008/brits_owe_%C2%A3471bn_to_friends_and_relatives.html A different kind of debt has British people £4.71 billion in the red, money that is owed not to institutions or any official lender but friends and relatives, solicitors in Northern Ireland may be interested to know.This is a debt that may require the services of a debt collector as some... Fri, 5 Dec 2008 13:55:00 UTC http://www.wilson-nesbitt.com/articles/1309/04122008/people_continue_to_fall_further_in_debt.html New data has revealed that the number of people in debt has fallen into further debt in the last three months as the financial pressure brought about by the credit crunch continues to rise.According to independent financial comparison website MoneyExpert.com, 27 per cent of those in debt have... Thu, 4 Dec 2008 16:30:00 UTC http://www.wilson-nesbitt.com/articles/1270/14112008/lenders_urged_to_avoid_repossessions.html Solicitors in Northern Ireland may be interested to know that the Homeowners Advice Centre has spoken in favour of homeowners concerning the rising threat of repossessions.The organisation has urged mortgage lenders to be considerate as the credit crunch continues to bite saying "it... Fri, 14 Nov 2008 15:10:00 UTC http://www.wilson-nesbitt.com/articles/1251/04112008/personal_debt_solution_proposed.html Solicitors in Northern Ireland may want to know that national charity Citizens Advice is proposing a new way for people in debt to regain control of their finances.The charity has issued a report on behalf of the money advice sector, which calls for an overhaul of the self-help debt system to be... Tue, 4 Nov 2008 14:00:00 UTC http://www.wilson-nesbitt.com/articles/1232/23102008/homeowners_to_be_protected_from_repossessions.html Debt recovery procedures for homeowners in Northern Ireland and other areas in the UK facing mortgage trouble have been put in place by the government.New measures introduced now require mortgage lenders to prove they tried to offer some help to property owners before settling for repossession,... Thu, 23 Oct 2008 13:15:00 UTC http://www.wilson-nesbitt.com/articles/1231/22102008/arrears_expected_as_crunch_continues.html Solicitors in Northern Ireland may find themselves under increasing demand from struggling homeowners following revelations that the next few months are likely to see large increases in arrears.According to the Homeowners Advice Centre, homeowners planning to sell their properties or review their... Wed, 22 Oct 2008 13:30:00 UTC http://www.wilson-nesbitt.com/articles/1227/21102008/ipods_face_bleak_future.html An outdated financial establishment together with the government is letting down Insecure, Pressurised, Over-taxed and Debt-ridden (IPODs) 18-34-year-olds, a new report suggests.According to the report from the Chartered Insurance Institute (CII), many IPODs face the biggest risk if recession... Tue, 21 Oct 2008 17:00:00 UTC http://www.wilson-nesbitt.com/articles/1183/12092008/more_benefits_cheats_being_caught.html More people in Northern Ireland are being convicted of benefit fraud.Solicitors in Northern Ireland may be interested in the BBC report which states that the number of people convicted of claiming money to which they were not entitled has doubled in less than two years.This year alone, 330 people... Fri, 12 Sep 2008 11:39:53 UTC http://www.wilson-nesbitt.com/articles/1182/11092008/northern_ireland_faces_drops_in_financial_confidence.html Consumer confidence in Northern Ireland has suffered its steepest decline in a decade, research has found.In a report that may concern solicitors in Northern Ireland, an Ipsos MORI survey found that almost a quarter of people expect their personal finances to deteriorate over the coming year.The... Thu, 11 Sep 2008 19:05:00 UTC http://www.wilson-nesbitt.com/articles/892/31072008/profit_fears_as_bad_debt_rises.html Profit fears gave been raised at Ireland's biggest banking group partly as a result of the extent of bad debts the business expects to incur in months to come. Over the course the past six months, the Allied Irish Bank (AIB) has seen a 52 per cent rise in the number of loans that are... Thu, 31 Jul 2008 19:00:00 UTC http://www.wilson-nesbitt.com/articles/849/07072008/ni_it_glitch_causes_%C2%A3130m_arrears.html A computer glitch in Northern Ireland led to rate arrears of £130 million this year, it has been revealed.Comptroller and auditor general John Dowdall, of the country's audit office, published a report into the Rate Collection Agency, noting the computing system has led to a number... Mon, 7 Jul 2008 14:00:00 UTC