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BUSINESS
DEBT MANAGEMENT
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PERSONAL DEBT MANAGEMENT |
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Introduction to
Corporate Insolvency
The UK Insolvency framework is aimed at the
rescue of companies 'in court', as well as facilitating stakeholder
negotiation out of court ...... |
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Personal
Debt Statistics
Personal debt in the United Kingdom now stands at
a staggering £1.444 billion as of June 2008. This is an increase of over 7%
during the previous 12 months .... |
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Using an Invoice
Factoring Company
It
is possible for a company to outsource/ sell or 'factor' the credit of
unpaid customer bills to a third party institution, in exchange the unpaid
business debt to be paid immediately.... |
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Understanding Your Credit History Report
Every time you borrow money or
uses some type of credit facility to buy something, it is likely that
someone will check your credit history to ensure you are credit worthy
enough. |
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Small Business Debt
Consolidation
To cope with spiralling debt, the following debt
refinancing products or processes could be considered... |
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Types of Debt
This the basic principles
and practices of all types of debt whether or personal debt or business
debt…. |
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Effective Credit
Control & Debt Collection
Without the proper credit control skills, processes and systems, inability
or failure to collect late payments can have a devastating impact.... |
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Causes of UK
Personal Debt
what is causing the rise in consumer debt and business debt?
Sometimes personal failures lead to addictions such as gambling or
shopping. |
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Reasons for
Small Business Failure
When businesses fail, business owners need to act
responsibly and swiftly to limit the damage. The first step is to recognise that
insolvency is approaching.... |
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Credit Cards, Store Cards and Prepayment Cards
in the United Kingdom we have a love hate
relationship with our credit cards, spending one of the highest amounts per
head, than any other country in the world. |
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Company
Administration
The company is placed in the hands of an Administrator whose primary role
it is to rescue and save the business from going into liquidation... |
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Practical Money Saving Tips
In order to help you avoid personal debt in the
first place, in this article we provide some useful tips on how to cut
back unnecessary spending, be more thrifty, conservative and cost
conscious. |
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Company Voluntary
Arrangement (CVA)
A means of rescuing the business as a going concern. A CVA is very similar to an
IVA for an individual. It is a legal agreement between a business and its
creditors.
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Personal Debt Consolidation
An unsecured or personal loan that replaces all existing forms of existing
unsecured borrowing such as credit cards, personal loans, overdrafts, store
cards, hire purchase and so on. |
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Administrative
Receivership
The process under which a manager or 'Receiver' (typically an
insolvency practitioner), is appointed by a holder holder of debentures secured
by a floating charge...
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Individual Voluntary Arrangement
A written contractual agreement, formalised between
the two parties, stating that a debtor can resolve their indebtedness via a
lower series of debt repayments, agreed over a fixed period... |
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Liquidation and
Winding Up
Companies that have built up so
much debt they simply cannot carry on as a going concern are likely of up
to go into process of formal insolvency proceedings such as liquidation
and winding up... |
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Informal
Arrangement
A
negotiated settlement for a reduced regular amount (or a lower lump sum)
is agreed between the debtor and creditor. Typically, there may be more
than one creditor.... |
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Administration Order
The individual is expected to make repayments
directly to the court. The court then redistributes this money to creditors on
behalf of the individual... |
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Debt
Management Plan
An informal type of agreement. The aim of the plan is to reduce the level of
debt the individual pays so that they can have one affordable monthly
repayment...
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Personal Bankruptcy
Applies when an individual who cannot pay his debts when they are due, and
therefore formally agrees to surrender all his assets and income, in
exchange for that debt being forgiven.... |
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Sequestration
Sequestration is a legal process that underpins the recovery of unpaid debts.
Diligence is the collective term for the legal processes for the recovery of
overdue debts..
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Protected Trust
Deeds |
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Guide to Government Benefits |
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Remortgaging |
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