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The Debt Advisor to help HM Forces

Jamie McColm — Thu, 29 Jul 2010 21:28:02 +0200

Award-winning, Manchester-based debt management company, The Debt Advisor, has partnered with specialist armed forces home-buying adviser, Mortgages4Forces, to offer debt solutions to the military.

Over half of cost cutting holidaymakers are staycation-ing

Jamie McColm — Thu, 29 Jul 2010 21:25:11 +0200

A new survey which looks at how the economic downturn is affecting holidaymakers' habits found that almost forty percent (38%) of Brits are actively trying to spend less money on their holidays this year, with more than half of those (56%) deciding not to go abroad in order to cut the cost of their holiday.

R3 recognises the case for regulatory reform as OFT concludes its market study of insolvency

Jamie McColm — Thu, 24 Jun 2010 17:37:34 +0200

Insolvency trade body R3 welcomes the opportunity to help shape regulatory reform to build further trust among unsecured creditors and sustain the important work carried out by the insolvency profession.

Generational attitudes indicate more young people heading for debt disaster than older peers

Jamie McColm — Wed, 16 Jun 2010 17:39:12 +0200

Research from R3, the insolvency trade body, which explores the experiences of people struggling with their debts, reveals that a far higher proportion of younger respondents are more likely to leave their bills unopened and avoid their creditors than older respondents.

A third of those in formal insolvency procedures are harassed by creditors

Jamie McColm — Wed, 19 May 2010 12:50:58 +0200

Figures released by R3, the insolvency trade body, reveal that 31% of those in statutory insolvency procedures are still being contacted by those they owe money to. This is made up of 44% of those who have filed for bankruptcy and 25% of those in an IVA.

Media Statement on pre-packs consultation launched today: 31 March 2010

Jamie McColm — Wed, 31 Mar 2010 17:49:10 +0200

Peter Sargent, President of R3, the insolvency trade body says:

"While we welcome any consultation that looks at pre-packs we question the justification used to introduce it.

Christmas spending catches up with us in March

Jamie McColm — Fri, 12 Mar 2010 12:36:05 +0100

Figures released today by R3, the insolvency trade body, indicate that almost a third (31%) of personal insolvencies that occur in March have been triggered by overspending during the festive season.

R3 members predict that there will be over 150,000 personal insolvencies in the UK in 2010.

Ten years of debt slavery for those in Debt Management Plans

Jamie McColm — Mon, 08 Mar 2010 10:17:36 +0100

Figures released today by insolvency trade body, R3, show that a quarter (26%) of Debt Management Plans (DMPs) will last ten years or more, even though a DMP is meant to be a short-term repayment plan between an individual and their unsecured creditors.

R3 welcomes loosening of entry criteria for Debt Relief Orders to exclude pension funds

Jamie McColm — Fri, 26 Feb 2010 10:39:09 +0100

Debt Relief Orders provide low cost debt relief for those overwhelmed by debts of up to £15000. Designed to help the most financially vulnerable, the strict eligibility criteria require assets of less than £300, debts of no more than £15,000 and surplus income of less than £50 per month.

Today’s record insolvencies just the tip of the debt iceberg as one million struggle without seeking help

Jamie McColm — Fri, 05 Feb 2010 22:46:38 +0100

The latest insolvency figures, showing record insolvencies in 2009, are just the tip of the personal debt iceberg, according to insolvency trade body R3.

R3’s research released today indicates that an additional one million individuals (916,000) are struggling with debts without seeking help.

“Don’t go back to our old ways” as insolvency reaches record high

Jamie McColm — Fri, 05 Feb 2010 22:42:06 +0100

Figures published today by the Insolvency Service show a record high with the number of personal insolvencies reached 35,574 in the fourth quarter of 2009 - an increase of 24.9% on the same period in 2008. The figures consisted of 13,219 Individual Voluntary Arrangements (IVAs), an increase of 26.

Insolvent deals have doubled in a year

Jamie McColm — Thu, 28 Jan 2010 13:55:46 +0100

Acquisitions of insolvent businesses in the UK have more than doubled over the past year and remain at high levels, according to research into mergers and acquisitions by Experian Corpfin on behalf of insolvency trade body R3.

Two-thirds of UK businesses worried about this quarter’s outlook

Jamie McColm — Fri, 22 Jan 2010 12:52:25 +0100

Figures released today by R3, the insolvency trade body, show that just one in three businesses (39%) feel that the outlook for the first three months of 2010 looks positive.

Ban point-of-sale store card sales to protect the vulnerable, says insolvency trade body

Jamie McColm — Mon, 18 Jan 2010 17:49:10 +0100

Financially unqualified shop staff should be banned from selling store credit cards, according to insolvency trade body R3.

Half price jobs on InsolPro extended until January 31st 2010

Jamie McColm — Thu, 31 Dec 2009 16:10:55 +0100

Offer extended until January 31st 2010.

Contact InsolPro on 0845 474 8907 to advertise now!

One in three young people admit to drink-fuelled spending

Jamie McColm — Fri, 18 Dec 2009 11:11:23 +0100

One in three young people (34%) say they've spent more on evenings out than they originally set out to this year as a result of consuming alcohol, according to research released today by insolvency trade body R3.

Retailers should prepare for New Year bloodbath, insolvency experts warn

Jamie McColm — Mon, 30 Nov 2009 15:00:26 +0100

The retail sector is set for a repeat of last year's clear-out on the high street, with over 20 household names likely to disappear early next year, according to insolvency trade body R3.

In the first few months of 2009, around 22 well known high street retailers went into insolvency.

All jobs on InsolPro half price until 1st January 2010

Jamie McColm — Sun, 29 Nov 2009 14:32:01 +0100

All jobs on InsolPro are half price (50% off) until 1st January 2010.

Make use of this offer before the Chancellor increases VAT to 17.5% in January 2010.

Telephone 0845 474 8907 or email

One in two workers is an unsung hero of recession

Jamie McColm — Sat, 21 Nov 2009 11:53:31 +0100

Half of UK workers have taken actions that help companies survive the recession, according to research commissioned by R3, the insolvency trade body. By accepting pay freezes, working longer hours or making other changes to their work patterns, they are helping companies stay afloat and preserving jobs.

R3 welcomes opportunity to demonstrate value of Insolvency Practitioners to the economy

Jamie McColm — Thu, 12 Nov 2009 17:00:51 +0100

R3 - the trade body for Insolvency Practitioners (IPs) welcomes the OFT announcement on the corporate insolvency study, and hopes that unfounded claims about Insolvency Practitioners fees can be put to bed for once and for all.