According to The Independent, the Office of Fair Trading (OFT) has increased investigations into payday loan companies.
The OFT sent investigators to 68 payday loan companies from January to May this year, compared to just one in 2011.
Debt and insolvency
An article on the blog yesterday reported on the issues that Michael Caine’s daughter and son-in-law are having with a debt collector.
Caine’s son-in-law, Ian Hall, is currently in court seeking compensation and an injunction against Kevin Fox.
Many couples looking to divorce are not only concerned about the emotional distress but also the financial ramifications that often follow with the process. Divorce can be expensive as legal advice, separate homes and separate bills can significantly change your financial situation. This can lead to parties having to change their habits and make other lifestyle changes.
With thousands of couples divorcing yearly the issue of divorce debt is one that is increasingly worrying couples who are looking to split. (more…)
In today’s straining financial climate many are finding it difficult to pay their bills on time. However, most people don’t expect a visit from the bailiffs over an unpaid parking fine.
Councils are increasingly turning to bailiffs for help to retrieve overdue money, and these visits are then added to the person’s bill. (more…)
The Citizens Advice Bureau has said that the number of people running up debt as a result of taking out ‘payday’ loans has quadrupled in the last two years.
Attracted by the simplicity of obtaining the credit and driven by the need to obtain cash before payday, over a million people take out small, short-term unsecured loans. (more…)
For financial disputes of less than £5,000 in value, the county court has an allocated the ‘small claims track’ to handle such claims. It is said to be a more straightforward process by which reason claimants can represent themselves. However, many disputes are not simple cases and claimants can find the prospect of going through a claim daunting and confusing. Increasingly, people are seeking some form of advice or assistance prior to starting a claim. (Main…)
Britain’s best known bookshop chain has been sold by HMV for £53m in order to help the company restructure its debt and refocus its business, as the sale of DVDs and CDs has declined in the face of digital sales.
HMV has sold the bookshop chain to A&NN Capital Fund Management, a company in which the Russian billionaire Alexander Mamut has an interest. He already has a 6.7% stake in HMV. (more…)
