 |
| LATEST LATEST LEGAL NEWS ARCHIVE |
LATEST NEWS & EVENTS Consumers 'still feel stigma of insolvency'  Consumers in the UK still feel there is a stigma attached to insolvency, it has been claimed. According to trade body R3, 30 per cent of people struggling with their finances have not told the people closest to them for fear of the reaction they will get. In addition, 21 per cent of those polled by the organisation - which promotes best practice for professionals working with financially troubled individuals and companies - said they did not know where to go for help. R3 president Peter Sargent remarked: "Even after a long recession people are still terrified to 'own up' to debt problems." He went on to suggest that this makes the issue worse, adding that it is important to "break the cycle of fear". Mr Sargent claimed that in his years operating in the industry, he has seen many people who are unable to open bills due to the worry they are going through. Rick Munro, head of corporate recovery and insolvency at Lamport Bassitt, said: "Whilst it is understandably difficult to face up to debt problems the best advice I can give is to seek help as early as possible. "The sooner the problem is addressed the more options available and the more sympathetic creditors tend to be." 
Related Articles: 8/5/2012 - More companies fail as personal insolvencies fall 23/4/2012 - Landlords and insurers unite behind insolvency law reform 19/4/2012 - Enterprise Act 'does not need radical overhaul' 13/4/2012 - Retail insolvency rate up 15% as rent payments bite 28/3/2012 - Business insolvencies on the rise More Insolvency & Restructuring News |
|||
| © 2012 Lamport Bassitt | DEFAULT ZOOM | DISABILITY INFORMATION | LEGAL INFORMATION |