What do the bankruptcy changes mean for you?
Written by Chelsea Potter
The application process and fees have changed for bankruptcy. Today we look at what changes have occurred and what they mean for you.
Category Archives: Industry News
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New data reveals Essex has the highest average debt in the UK
Written by Chelsea Potter
PayPlan have revealed new debt figures to show the top 10 counties in the UK with the highest average debt figures and Essex was revealed to have the highest debt level. According to the data 1212 people from the area used our service throughout 2015 with their average debt coming to £18,508.Our report…
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SELF-EMPLOYED AT RISK OF ALMOST 40% MORE PERSONAL DEBT
Written by Chelsea Potter
Self-employed people clock up nearly 40 per cent more personal debt than those who are on the payroll, according to PayPlan's latest research.
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ARE YOU WORRIED ABOUT THE RISE OF INTEREST RATES? YOU’RE NOT ALONE
Written by Chelsea Potter
In autumn this year we surveyed hundreds of homeowners already living on a tight budget asking how to a rise in interest rates would affect their finances.While the Bank of England held interest rates again, our survey revealed 72% of you would not be able to cope with a £100…
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Mortgage Changes: Everything You Should Know
Written by Matthew Brown
New rules from the Financial Conduct Authority have made it harder to qualify for a mortgage. And that’s not a bad thing; these tougher new rules are designed to make the mortgage market more sustainable. In the long term, the hope is that tighter restrictions will avoid a repeat of…
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Pensioners Struggle to make ends meet
Written by
Almost a million people in the UK will die in debt, many of them pensioners who struggle daily to make ends meet. In today’s Daily Mirror reporter Tricia Phillips speaks to Jane Clack, our Money Advice Consultant, and PayPlan client David Barber, about what happens if you die in debt and…
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Interest only mortgages – FCA warn borrowers of shortfalls
Written by Payplan Ryan
2 May 2013 Latest statistics out today show that around half of 2.6million homeowners who have an interest only mortgage, may not be able to pay the capital when the mortgage ends. 48% (some 1.2m customers) of them will be faced with a shortfall – the average in excess of…
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Average water bill set to rise by 3.5%
Written by Payplan Ryan
Ofwat announced earlier this week that water and sewage bills are set to rise by an average of 3.5%. Here is what people had to say on Twitter...
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Millions face rise in council tax.
Written by Payplan Ryan
It has been announced that millions of low income households will see a rise in council tax from April 1st, with some bills rising by £600! Here is what people had to say on Twitter...
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Rent arrears reaches a new high
Written by Payplan Ryan
Christmas is being blamed for the increase in the number of people who fell into arrears with their rent in December. Here is what people have been saying on Twitter.
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Why iPhone 5 Users May Be More Prone To Debt [Infographic]
Written by Payplan Ryan
After months of speculation, the iPhone 5 is finally being unleashed on the market. However, before you rush out in the hope of getting your hands on the coveted smartphone, you might want to check your bank balance first. After a launch of our own in June 2012, we introduced…
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Welfare Reform Act
Written by Payplan Ryan
Millions of people around the UK are currently claiming benefits, with some of them having their entire income made up of them. This costs the government millions of pounds each year, and they have set out a plan to reduce the Welfare bill over the next few years.
