The ‘bounty hunters’ are set to investigate benefit claims to recoup the £5.2 billion annual fraud bill, by investigating credit card bills and household receipts of existing and new claimants, and the agencies will be rewarded per fraudster caught.

The Child and Poverty Action Group however warns that those in society in need of benefits could suffer as already the administration complexity of claiming benefits means that £16bn is unclaimed each year by those who perhaps need it most.

“This initiative stigmatises the most vulnerable people and is likely to further reduce take up of much needed benefits and tax credits,” warned Gabrielle Preston, CPAG Policy and Research Officer.

“It is unacceptable for politicians to inflame stigma and discrimination against some of the most vulnerable people in the country.  The Coalition should take a lead in challenging myths about people who rely on the welfare system.”

The National Audit Office also recently criticised HM Revenue & Customs for failing to deal with 18 million unresolved income tax cases with about £4.4 billion at stake, which could not only help cash flow for the Government but also the individuals relying on claiming back tax for debts.

Debt Management

Although the Government is planning on reducing benefit fraud there is the possibility that those actually in real need could become victimised, and as a result could fall into debt.  If you are already in debt and reliant on benefits or would just like some advice for your future financial situation seek advice from Ashley Park.

For a confidential informal chat with one of our advisors why not call 0800 043 3535 or email enquiries@ashleypark.co.uk

Scottish Widows’ inaugural Retire-Easy report reveals it is not just the financial worry of funding retirement future retirees should consider as the lifestyle change can also have a huge emotional and psychological effect.

Over a quarter of those retirees surveyed 23% missed the sense of structure of working life and the greatest challenge for 15% of retirees was their loss of social life.

“It is not just the financial shift that people have to prepare for when they retire, but the lifestyle change that comes with it,” said Scottish Widows savings expert Alison Morris.

“Many people want to take it easy and enjoy the free time they have when they retire, but it is important to understand that retirement can be one of life’s most significant transactions so careful planning is crucial for your well-being.”

Other retirement worries for future retirees included 13% who are expecting not being able to enjoy their free time due to bad health, 22% enjoying their job and not wanting to leave, and 13% who said they will not know what to do with the extra time.

Clear All Debts

Whether you are struggling to fund the basic necessities with your pension and savings, or you simply would like a bit more disposable income or to perhaps consolidate your debts, Ashley Park has a variety of means to assess your situation to provide the best solution.

For a confidential informal chat with one of our advisors why not call 0800 043 3535 or email enquiries@ashleypark.co.uk

The threat of unemployment, particularly in the public sector, could increase the threat of going bankrupt and running into debt trouble for many cash strapped Brits, experts warn.

If you are worried about being made redundant and are in debt trouble, speak to the professionals at Ashley Park for expert advice on managing your finances.

Not a day seems to pass at the moment without the announcement that a significant number of public sector jobs are set to be axed, something that is likely to create a ‘double-dip’ in unemployment figures, despite the likelihood of private sector jobs increasing.

The latest quarterly CIPD/KPMG Labour Market Outlook survey uses a net employment index to measure the difference between the proportion of employers intending to increase staff and those intending to decrease levels in the third quarter of 2010.

The index is currently at +2 having fallen from +5 in the spring but highlights the disparity in Public and Private sector employment with -35 for the former and +19 the latter.

“The employment situation looks like a case of the good, the bad and the ugly,” said CIPD public policy advisor and author of the report, Gerwyn Davies.

“The CIPD believes that a rise in unemployment in the next two years remains a distinct possibility as the private sector recovery is offset by the 600,000 public sector job losses the Government expects over the next five years.”

The largest decline in public sector employment is in administration and defence with -59 and local government at -74. Meanwhile the areas of most growth in the private sector are in the IT industry at +42.

“The big question is whether the private sector can create new jobs in sufficient numbers and quickly enough to offset the downturn in the public sector,” commented KPMG head of public sector, Alan Downey.

“In the months ahead we will see a substantial reduction in public sector headcount as the cuts begin to bite.”

On average 5.5% of the workforce are expected to be made redundant this quarter up from 3.6% in the spring, representing a 50% jump in only three months.

The cost of living has risen by £642.12 in the past year a study of 3,000 people by Confused.com found and unemployment will do nothing but put more economic strain on family finances.

Debt Trouble Advice

If you are struggling with debt, there are an increasing number of debt solutions available and these include IVA (Individual Voluntary Arrangement), Debt Management Plans, Debt Relief Orders, as well as, filing for bankruptcy.

Ashley Park have a team of highly experienced advisers who will make a full financial assessment of your situation and find the best financial solution to suit your individual needs and in complete confidence.

Before this slight decrease, the number of insolvencies had continuously risen since October 2007, and the first half of this year saw a total of 70,425 insolvencies which is an increase of more than 458% since 2000.

“There is a more general increasing trend of people seeking insolvency or being forced insolvent, which is deeply concerning,” said Money Advice Trust spokesperson Paul Crayston.

“We need to make sure, for our social and economic well being, that unmanageable debt is reduced as far as possible.”

There were 4,080 compulsory liquidations and creditors’ voluntary liquidations in the second quarter of this year, which was a 0.5% increase on the previous quarter but a decrease of 19.1% a year ago.

Approximately one in 127 companies went into liquidation in the twelve months ending Q2 2010, a slight decrease from the previous one. 

Debt is still a problem in today’s society as inflation and unemployment are high with those in employment feeling the cost of pay freezes.  The cost of living has risen by £642.12 in the past year a study of 3,000 people by Confused.com found – amounting to what could be a mighty £962,148.72 spent on bills between the ages of 18-70.

Insolvency Advice

If you are struggling with debt, there are an increasing number of debt solutions available and these include IVA (Individual Voluntary Arrangement), Debt Management Plans, Debt Relief Orders, as well as, filing for bankruptcy.

Ashley Park have a team of highly experienced advisers who will make a full financial assessment of your situation and find the best financial solution to suit your individual needs and in complete confidence.

If your debts have become out of control and you are struggling to manage your income against your outgoings a debt consolidation from Ashley Park could help.

Not only are housewives 11% more likely to obtain a speeding ticket, their cars are on average £1,530 more expensive with an engine about 282ccs larger than other women’s.

“Housewives make up the biggest occupational group we insure, we wanted to see if there were any difference between them and the rest of the female motoring population.” said Diamond managing director Sian Lewis.

“The UK’s housewives certainly seem to enjoy life in the fast lane.”

When it comes to hitting the credit card however, the popular myth that women are the bigger abusers has been hit on the head.  More than one in four men has three or more credit cars compared to just 16% of women, moneysupermarket recently revealed.

Only half of all female credit card holders use their card more than once a month compared to half of men who use it on a weekly basis.

Managing your finances

Whether you have built up debt due to several big expensive purchases which you are struggling to pay off, or if you have a number of credit card bills with little debts all mounting up, it is important to stay on top of it.  Money management can soon spiral out of control and could start with a simple speeding fine.

The experts at Ashley Park can give you professional advice on your options.

Brits are determined to take a summer break this year even though more than £1000 is what over two million holidaymakers have borrowed to fund it, according to research by the insolvency trade body R3.  This may not seem like enough to cause bankruptcy but it could be the beginning of a downward spiral of debt if managed incorrectly.

Other articles show bankruptcy can happen to anyone regardless of how much their income may be or how successful their career in the case of Kerry Katona and George Best for example.

Research has also found once people are in debt it can affect their close relationships as many admit to keeping it a secret.  This not only contributes to the stress but also means the family carry on spending where they should not.  The Consumer Credit Counselling Service also revealed that ‘embarrassment’, ‘shame’ and ‘it’s quite difficult to acknowledge that you are an adult and unable to manage your finances’ were all reasons for not talking about it.

People are urged to look into their options when they can no longer cope, if an IVA is not a viable solution then bankruptcy may have to be the answer, but with this can come relief from the constant feelings of stress and the means to start again.

Ashley Park offers a bankruptcy assistance service which details everything you will need to do in order to declare yourself bankrupt. We are able to give you step by step advice and guidance on bankruptcy and help organise the right documentation.

For a confidential informal chat with one of our advisors why not call 0800 043 3535 or email enquiries@ashleypark.co.uk

If an individual moves abroad permanently their UK state pension will be frozen unless living in an EU country according to new research by Standard Life.

Popular countries Brits retire to outside these reciprocal agreement countries include Australia, Canada, New Zealand and South Africa where friends back home could enjoy double the level of state pension in comparison after 20 years, when inflation is taken into consideration.

“Retirement abroad is a dream for many people but without careful planning and advice, things can potentially go wrong very quickly,” said Standard Life Senior Pensions Policy Manager Andrew Tully.

“Over a 20 year retirement, your basic state UK pension could halve in real terms.”

Retirement is a costly business and many are struggling to save adequately to live a comfortable one either at home or abroad.  The Scottish Widows Pensions Index showed this was particularly true for Women over 50, with only 38% saving adequately for retirement.

MGM Advantage revealed 14.5 million people expect their income needs to increase through retirement with 60% of adults concerned about the effect of inflation on their future retirement needs.

How to cope with debt problems

If you have retired and are finding yourself in debt due to the cost of living being higher than your savings and pension can afford, seek professional advice from the experts at Ashley Park.

Ashley Park have a team of highly experienced advisers who will make a full financial assessment of your situation and find the best financial solution to suit your individual needs and in complete confidence.

1 Kerry Katona: This troubled former pop singer has certainly felt the back hand of the celebrity lifestyle.  After failing to deliver the final £82,000 of her £417,000 tax bill she was declared bankrupt in two years ago this month.   Katona has been seen this year however behind the wheel of a BMW X5 which would have cost her between £40,000-78,000.

2 Mike Tyson: Mike Tyson’s £165 million career was not enough to keep him out of trouble for debt problems after racking up £70 million worth of debts.  As a result Tyson had to sell his mansions and collection of exotic cars and living in a modest rented home in Phoenix, Arizona.

3 George Best: George Best is also one the most well known bankrupt sporting stars of all time due to a playboy lifestyle that often resembled one long party of women, fast cars and general excess, including a long battle with alcoholism. After football he took up gambling and was declared bankrupt in November 1982 owing £22,000.

4 Kim Basinger: Glamorous movie star Kim Basinger declared herself bankrupt in 1993 to settle her £6million debt after she bought the town of Braselton, Georgia for 12.5 million.

5 Bill Roache: Corrie’s brick, voice of reason, man of the street – so to speak – Bill Roache who plays Ken Barlow was made bankrupt in 1999.  The actor was ordered to pay legal costs despite winning a case with the Sun and awarded £50,000, but this was not enough to cover legal costs of around £120,000 and pay off an estimated £600,000 debt.

Going Bankrupt Advice

Regardless of how much your income may be, the threat of going bankrupt and falling into debt can, as our list shows, easily affect everyone, including successful individuals.

If you are struggling to pay off your debts and an IVA is not a viable solution, bankruptcy could be your only option. 

Although bankruptcy is not to be taken lightly, it can offer you a fresh chance to start again and can lift that strain and money stress that has probably been the centre of your life.

Ashley Park offers a bankruptcy assistance service which details everything you will need to do in order to declare yourself bankrupt. We are able to give you step by step advice and guidance on bankruptcy and help organise the right documentation.

For a confidential informal chat with one of our advisors why not call 0800 043 3535 or email enquiries@ashleypark.co.uk

If you are struggling to manage your holiday debt seek professional advice from the experts at Ashley Park.

Research by the insolvency trade body R3 found that these debt-ridden Brits will spend on average seven months paying back their debts.

The figures show that Scottish holidaymakers are the most likely to borrow with 12% saying they had or intended on borrowing money for their 2010 break with Londoners in a close second with 10%.

A generational split was also revealed with 16 to 24 year olds the most likely age group to borrow money, while the over 65s are the least likely.

“That people are prepared to take on a substantial amount of debt for such a long period of time in order to afford a holiday is worrying, especially as these are still economically uncertain times,” said R3 Vice-President Frances Coulson.

UK holidaymakers are also expected to spend £3 billion on credit cards abroad between now and the end of 2010, research by Post Office Credit Card found, and according to the Payments Council, credit cards are still the most popular way to spend abroad, accounting for a third of all overseas spending.  

It is also not just the family holiday which is a financial worry for UK families this summer, with 14% intending to use a credit card to spread the costs of summer activities, the Nectar Credit Card by American Express survey showed.

A Credit Card Debt Problem?

If you are struggling with debt, there are an increasing number of debt solutions available and these include IVA (Individual Voluntary Arrangement), Debt Management Plans, Debt Relief Orders, as well as, filing for bankruptcy.

Ashley Park have a team of highly experienced advisers who will make a full financial assessment of your situation and find the best financial solution to suit your individual needs and in complete confidence.

To help anyone who is considering filing for bankruptcy or is worried about going bankrupt, at Ashley Park Debt Solutions we’ve scoured the web to bring you five of the best blogs on bankruptcy that are out there.

Worried about debt? Find more bankruptcy advice and information on these highly recommended bankruptcy blogs.

1). Bankruptcy help

This site offers tips about every aspect of bankruptcy as well as giving member the chance to discuss their own experiences on a message board exclusively on bankruptcy.

2). Blogging a bankruptcy – sharing the experience

This blog is based on someone’s own personal experiences with bankruptcy along with advice and tips as well as an audio interview. The site aims to explore the issues surrounding bankruptcy and debt and asks why Britain is learning the danger of personal debt the hard way.

3). The Financial Blogger

The writer works in the financial industry and specialises in personal finance.  Personally, he is always on the look out to make money and documents his experiences through the highs and lows. Well worth checking out for in-depth financial information and a look inside the industry.

4). Wise Bread

Wise Bread is a comprehensive blog covering every aspect of debt management in the personal finance arena.  The recent most popular story was entitled ‘5 Ways to Live Better Without Spending More’.  Subheadings and focused categories include: Banking, Cars and Transportation, Credit Cards, Financial News, and of course Debt Management. Worth bookmarking for the future and to help your debt management problems. 

5). Personal Bankruptcy

This is a personal account of bankruptcy.  It goes through the highs and lows and is a real, uplifting view on the realities.