Debt Management Weekly Round Up

05/03/2010

It's been another busy week in the field of debt management. Here are some of the leading stories from the last few days.

The government has unveiled plans to make declaring bankruptcy more expensive – balanced out by revised proposals for "quickie" bankruptcies called Debt Relief Orders (DROs) for those with lower levels of debts and very limited assets – due to come into effect in April.

Insolvency practitioners are worried, however, about the risk of fraud associated with the new online procedures.

New figures on personal debt situation? Take our Debt Calculator test today!'>personal debt levels for the year were released by Credit Action this week, showing a year on year increase of 0.8 per cent in household indebtedness. The report found that the average family with unsecured debt now owes £18,623.

And Credit Action's bleak picture is confirmed by new figures on the numbers of people being forced to take out second jobs to make ends meet, and a survey showing that millions of people expect to get no pay rise or one that is less than inflation in 2010.

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