Posts Tagged debt

Number Of Business Debt Judgments Have Fallen Since Last Year

Posted by on Friday, 9 July, 2010

– Figures released today by Registry Trust show that the total value of debt judgments (CCJs) issued against businesses in England and Wales over the quarter of 2010 has fallen by 24 percent since this time last year.

The value of judgment debts against businesses dropped by almost £50m over the period from £201.8m to £153.2m.

Registry Trust is the non-profit organisation which operates the Register of Judgments, Orders and Fines for England and Wales on behalf of the Ministry of Justice in the public interest.Numbers of CCJs showed a corresponding decrease – down from 48,619 in Q3 2009 to 37,168 this year. The public’s interest in the Register grew, with a record 18,907 searches performed in the third quarter of 2010.

Announcing the figures, Registry Trust chairman, Malcolm Hurlston, said:
“It is good to see that people are increasingly taking the time to check debt history before doing business.
“There are many ways for people to check on their own credit history, but only through Registry Trust are judgments against other people and businesses fully available to search.

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Parents Worry That Children Will Not Be Able To Stay Out Of Debt

Posted by on Thursday, 8 July, 2010

– M&S Money has revealed new research that shows that many UK parents admit they are still worried about whether the next generation will be able to manage their own money, despite the credit crunch and the focus on finances in the current climate.

The research shows that a quarter of mums and dads around the country say that despite the more cautious financial environment the country is now in, it will still be easier for their kids to get into debt than it was for them and a third think their children will be less able to manage their money than they are.

Almost one in five (19%) say their children will be ill equipped to understand and deal with their own finances as there is simply too much jargon to wade through and not enough practical guidance in schools.

Despite this almost a third of parents believe that imparting their own experiences can help their children learn and improve their chances. They are confident that by being more open, than their own parents were with them, and integrating finance into the school syllabus, their children are more likely to be able to cope with the challenges of their personal finances. A fifth of today’s parents said that their mothers or fathers had the most influence over how they manage their own personal finances.

M&S Money works with the DebtCred financial literacy project, which was established as a charity in 2003. The primary aim of DebtCred is to prepare school pupils for university life or employment by educating about the sensible use of credit, personal financial management and the hazards of over indebtedness. Employee volunteers from M&S Money deliver financial literacy presentations to high school students in the Cheshire region.

Colin Kersley, Chief Executive of M&S Money, said: “Having been through one of the most complicated couple of years for family finances the importance of getting things right for the future has never been more important. Too many of today’s parents are not yet confident about the nation’s efforts to improve financial awareness and ability for the next generation.

“Providing practical guidance in schools as well as offering simple and transparent products is really important. The goal that our children will be more able to handle their own finances is worthwhile and one that industry, consumers and Government must work on together.”

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