Author Archives: admin

“Talk of ‘smoothing out financial bumps’ simply does not apply to a business scenario – a short term fix is not what a struggling business needs. The focus must be on survival in the medium and long term. Businesses should … Continue reading →

Frances Coulson, R3 President, comments: “R3 welcomes the OFT’s revised Debt Management Guidelines for businesses offering debt management advice or credit repair services, but believes more should be done to ensure Debt Management Plans are properly regulated. “Research by R3 … Continue reading →

As nearly half the population (45%) struggle to make it to ‘payday’, a payday loan will become a reality for many.  New research by insolvency trade body R3 reveals that 3.5 million adults are considering taking out a payday loan … Continue reading →

From the 1st December 2011 all jobs advertised on InsolPro will be posted on a ‘no application no fee’ basis to all recruiters (not just recruitment agencies). Ever since the relaunch of InsolPro in May 2011 we have been able … Continue reading →

Personal insolvency decreases “It can only be an encouraging sign that personal insolvency has decreased, but this is likely to come as a surprise for many, given the current economic uncertainty. These figures indicate the peak in personal insolvency occurred … Continue reading →

Figures published today by the Insolvency Service show that personal insolvencies were down to 30,219 in the third quarter of 2011 a decrease of 11% on the same period a year ago. The numbers of IVAs and debt relief orders … Continue reading →

The previous ‘Quarter Day’ in June’s saw the largest wave of retail administrations since the height of the recession, and this month’s deadline looks could spark another wave of insolvencies. Quarterly rent payments fall in March, June, September and December … Continue reading →

A new European Commission measure to freeze the assets of British businesses deals a severe blow to the UK’s rescue culture, warns insolvency trade body R3.  The European Account Preservation Order (EAPO) is set to give courts anywhere in the … Continue reading →

“R3 welcomes the Government’s announcement today to consult on increasing the petition debt levels for creditors. R3 believes that a rise from the current level of £750 to £3000 would be a more appropriate sum for a creditor to petition … Continue reading →

The number of people experiencing financial distress has increased to the highest level recorded by R3’s Personal Debt Snapshot. The latest research finds that eight million people are due to go into their overdraft this month, with two million believing … Continue reading →