Posted on May 16, 2008 by Nick
New figures released today by the Ministry of Justice show that fewer individuals year-on-year are petitioning for bankruptcy.
These figures are for personal rather than business bankruptcy, but it’s worth mentioning, not least because the distinction is blurred in any case as many individuals facing bankruptcy are self-employed; and it is their business activities which put [...]
Filed under: finance | Tagged: bankruptcy, credit, credit rating, finance | Leave a Comment »
Posted on March 6, 2008 by Nick
I want to tell you a story about my friend Paul. He lives a few doors down from me, and we went for a drink a couple of weeks back. He told me an astonishing story.
Back in the early 1990’s, he was a bit strapped for cash. Somewhere along the way, he forgot to fully [...]
Filed under: finance | Tagged: banking, card, credit, credit crunch, debt, debt collection, finance | 1 Comment »
Posted on February 28, 2008 by Nick
Yesterday, Hector Sants, Chief Executive of the Financial Services Authority, warned that banks will have to change the way they do business.
For finance fans, he specifically said that banks will have to keep more of their loans on their own books rather than selling them on- which was one of the causes of the credit [...]
Filed under: current affairs, finance | Tagged: banks, credit, credit crunch, finance, lending | Leave a Comment »
