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35 Debt Management Firm Surrender Their Licences

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http://www.bankingti...ender-licences/

No longer profitable?

Swamped by debt?

All those sexist b'stards who said women were pushing up house prices - hmmmm!

Young women bankrupted by “trappings of success”

Insolvency Service figures show that there were approximately 67,500 personal bankruptcies across all age groups in England and Wales last year, an increase of 89% over the past five years.

The gender bias of insolvency statistics is changing, with more women making up the numbers of young people entering bankruptcy.

According to accountancy firm, Wilkins Kennedy, bankruptcies in England and Wales among the under 24s have risen by 10% over the past five years.

However, last year women made up 55% of the numbers, compared with 43.8% in 2004, with 1,560 women under the age of 24 declaring themselves bankrupt, compared with 1,250 men.

Wilkins Kennedy suggests that young women are struggling with their finances as a result of credit card debt and mortgage or rent payments.

A director of the firm, Anthony Cork, explains: “Over the last decade the pressure on young women to follow the lavish lifestyle of female celebrities has grown immensely.”

He adds: “The growing availability of credit has meant that for those status-conscious, who want to exhibit the trappings of success, designer clothes and jewellery seem misleadingly achievable.”

Mr Cork is also concerned that many young single women have taken out mortgages that consume much of their monthly salaries.

ERIC?

This makes them vulnerable to changes in interest rates and far more likely to go bankrupt if made redundant.

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All those sexist b'stards who said women were pushing up house prices - hmmmm!

snip>

This makes them vulnerable to changes in interest rates and far more likely to go bankrupt if made redundant.

I don't think anyone would want to go bankrupt out of choice....but if they do, you have to ask yourself who lent them the money, and even more importantly why. ;)

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Good riddance.

The way alot of these firms operate is dreadful - they set up token payments by a debtor on his credit cards, and usually arrange it so that the largest item on the monthly outgoings is their own fee! On top of that Payplan and CCCS do exactly the same job at no expense. And on top of that you can do it yourself if you have half a brain.

Another rip off exposed.

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  • 311 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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