Self Employed Youth Posted May 6, 2011 Report Share Posted May 6, 2011 http://www.insolvency.gov.uk/otherinformation/statistics/201105/index.htm Quote Link to post Share on other sites
cashinmattress Posted May 6, 2011 Report Share Posted May 6, 2011 Down on last year? Well, if you ignore the debt relief orders maybe. Quote Link to post Share on other sites
SarahBell Posted May 6, 2011 Report Share Posted May 6, 2011 Whats a debt relief order? Quote Link to post Share on other sites
cashinmattress Posted May 6, 2011 Report Share Posted May 6, 2011 (edited) Whats a debt relief order? It's like waving the white flag before signing the official contract of surrender? http://www.insolvency.gov.uk/bankruptcy/alternativestobankruptcy.htm Bankruptcy: Debt relief order: Edited May 6, 2011 by cashinmattress Quote Link to post Share on other sites
leicestersq Posted May 6, 2011 Report Share Posted May 6, 2011 Whats a debt relief order? Is it an order to relieve you from debt? If it is, it is as aptly named as the "West Midland Serious Crime Squad" was. This branch of the Police committed many serious crimes in the West Midlands. Quote Link to post Share on other sites
ong Posted May 6, 2011 Report Share Posted May 6, 2011 What is a debt relief orderA debt relief order is an order you can apply for if you can't afford to pay off your debts. It's granted by the Insolvency Service and is a cheaper option than going bankrupt. You must have debts of less than £15,000 and a low income. A debt relief order usually lasts for a year and during that time, none of the people you owe money to (your creditors) will be able to take action aginst you to get their money back. At the end of the year, you'll be free of all the debts listed in the order. You can't apply for a debt relief order if you: own things of value or have savings of over £300 own a vehicle worth more than £1,000. http://www.adviceguide.org.uk/index/life/debt/debt_relief_orders.htm Quote Link to post Share on other sites
R K Posted May 6, 2011 Report Share Posted May 6, 2011 (edited) Every unsecured debt ought to be defaulted. What the rising trend from 2001 shows is that people are waking up to the bankster criminality and are gradually realising they don't owe anything at all in the first place. When everyone has gone insolvent then we'll be getting somewhere. http://www.bbc.co.uk/news/business-13307751 Edited May 6, 2011 by Red Karma Quote Link to post Share on other sites
Self Employed Youth Posted May 6, 2011 Author Report Share Posted May 6, 2011 Is it an order to relieve you from debt? If it is, it is as aptly named as the "West Midland Serious Crime Squad" was. This branch of the Police committed many serious crimes in the West Midlands. Quote Link to post Share on other sites
libspero Posted May 6, 2011 Report Share Posted May 6, 2011 (edited) Down on last year? Well, if you ignore the debt relief orders maybe. 130,000 personal insolvencies a year, and barely a repo in sight.. it's like magic! Edited May 6, 2011 by libspero Quote Link to post Share on other sites
libspero Posted May 6, 2011 Report Share Posted May 6, 2011 (edited) Every unsecured debt ought to be defaulted. What the rising trend from 2001 shows is that people are waking up to the bankster criminality and are gradually realising they don't owe anything at all in the first place. That's fine.. as long as they release back to the market the assets they bought with the money that wasn't theirs borrowed from people who should never have been allowed to lend it. No need to differentiate between secured/ non-secured though.. Edited May 6, 2011 by libspero Quote Link to post Share on other sites
silver surfer Posted May 6, 2011 Report Share Posted May 6, 2011 130,000 personal insolvencies a year, and barely a repo in sight.. it's like magic! +1 From an HPC perspective insolvency's just not that significant (evidenced by the way they've increased at the same time as house prices have increased), what counts is repossessions. Quote Link to post Share on other sites
hurlerontheditch Posted October 30, 2019 Report Share Posted October 30, 2019 Quote The number of people entering insolvency in England and Wales rose sharply in the three months to September compared with a year ago, according to Insolvency Service figures. the number of people officially entering financial distress rose to 30,879 in seasonally adjusted terms, up 23% on a year ago. The rolling 12-month rate of individual insolvencies per 10,000 people rose to an eight-year high of 27.4, the figures showed. “Today’s figures provide a worrying insight into the state of personal finances,” said Duncan Swift, president of insolvency and restructuring trade body R3. https://www.gov.uk/government/statistics/company-insolvency-statistics-july-to-september-2019 not going to end well Quote Link to post Share on other sites
Bluestone59 Posted October 30, 2019 Report Share Posted October 30, 2019 An acquaintance defaulted on everything because there was no way out and he was so pi$$ed off with the structure anyway and his life tbh. Mortgage, Bank loan(s?), Credit cards and a couple of overdrafts. Some of this stuff he increased just before ending the pretence. He says the total amount of the default was heading towards £70k compared to paying back the whole lot. The thing that struck me most, although obvious really, was just how much banks charge and how quickly interest piles up. Quote Link to post Share on other sites
SOLZHENITSYN Posted October 30, 2019 Report Share Posted October 30, 2019 1 hour ago, hurlerontheditch said: https://www.gov.uk/government/statistics/company-insolvency-statistics-july-to-september-2019 not going to end well And all of this during a time of record low interest rates?!? What a mess. Quote Link to post Share on other sites
spyguy Posted November 1, 2019 Report Share Posted November 1, 2019 On 30/10/2019 at 15:31, hurlerontheditch said: https://www.gov.uk/government/statistics/company-insolvency-statistics-july-to-september-2019 not going to end well 12 months on fro mend of TFS. No more extend n pretend. Writing on wall re MMR and house prices. Quote Link to post Share on other sites
spyguy Posted November 1, 2019 Report Share Posted November 1, 2019 Plus all the idiots who took money from the new frinsec, such as MetroBank and all those funding circles types are getting repoed as both MB and FC realise that theyve not invented a new form of finance. Quote Link to post Share on other sites
HariSeldon Posted November 1, 2019 Report Share Posted November 1, 2019 On 30/10/2019 at 15:57, Bluestone59 said: An acquaintance defaulted on everything because there was no way out and he was so pi$$ed off with the structure anyway and his life tbh. Mortgage, Bank loan(s?), Credit cards and a couple of overdrafts. Some of this stuff he increased just before ending the pretence. So basically he was just living beyond his means? Let's be honest, whatever the economy is doing or how well or badly an individual is doing there will always be some people who want stuff today that they can't really afford until tomorrow - for those sort of people it's never going to end well. Quote Link to post Share on other sites
Saving For a Space Ship Posted November 1, 2019 Report Share Posted November 1, 2019 On 06/05/2011 at 11:08, cashinmattress said: It's like waving the white flag before signing the official contract of surrender? http://www.insolvency.gov.uk/bankruptcy/alternativestobankruptcy.htm Bankruptcy: Debt relief order: Even the website http://www.insolvency.gov.uk has gone under Quote Link to post Share on other sites
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