Unsecured Lending Falls in 2011

Posted on February 2, 2012 by Ashley Park

The total amount of Unsecured (Consumer Credit) lending stood at £207 billion at the end of December 2011, which is down from £216 billion at the end of December 2010 according to the latest figures from Credit Action.

Lee Schofield of Ashley Park Debt Solutions commented,
“Tighter credit scores and a lack of unsecured lenders that cater for clients with anything less than a perfect credit score have seen more people considering a debt management plan or IVA as a way to consolidate their outgoings to a level they can afford without the need to borrow any further finance. “

 The latest release from Credit Action also states that 1,797 people were made redundant every day between September and November.

Lee continues;

“Whilst many people are cutting back and mindful of the increased risk of unemployment or a reduction in income, this can push them into what feels like an unmanageable situation. A debt management plan allows them to make affordable payments to their unsecured debts whilst allowing for all priority debts such as Mortgage and council tax to be made in full.”

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Costly Christmas Leads to Consolidation

Posted on January 16, 2012 by Ashley Park

Consolidating debt is becoming a chief financial strategy for many UK residents, as more and more look to gain greater control over their arrears. Writes Norton Finance.

Sainsbury’s Bank says that more than 150,000 people will take out a debt consolidation loan between January and March in an attempt to combat a costly Christmas period.

Lee Schofield of Ashley Park Debt Solutions commented, “Many more will attempt to obtain a loan to consolidate their debts but will be turned away and left to seek help on their own.  Whilst budgeting can help some, Others may need to consider a debt management plan as a way of reducing their monthly outgoings to a level that they can afford in line with their income and essential outgoings such as their Rent or mortgage payments and council tax.”

For more information about Debt Management Plans and also to use our free debt tools visit our website

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New Year New Start

Posted on January 5, 2012 by Ashley Park

As the festive season has finished and January has arrived with a cold (and windy) dose of reality, Many people will be looking to start saving for a family holiday to sunnier shores, Buy a new car or to decorate the spare room. To make sure you keep your savings on track and are aiming for a realistic amount try drawing up a budget list. If you are unsure of how to do this we have a free to use Budgeting tool on our website.  By completing a budget list you may also notice areas where you may be overspending and may be able to cut back, You may also see that this could be used in other areas such as paying more off your credit card balances each month or crediting your utility accounts in preparation for next winter!

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Advisor Nominated for Award

Posted on September 22, 2011 by Ashley Park

Ashley Park are pleased to announce that Hayley Newton has been selected as our Debt Advisor of the Year and as a result she will be our company’s nomination for the Debt Resolution Forum’s Debt Advisor of the Year.  Hayley has been selected after all our advisors were considered in a number of areas. Areas included Client Feedback, Compliance monitoring, Company Recognition and the DRF`S perfect advisor requirements being met.

All of Hayley’s fellow colleagues would like to wish her the best of luck ahead of the announcement of the winner of the award at the DRF Conference on Tuesday 27th September.

Good Luck Hayley!!!

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Dark Week for the High Street

Posted on July 4, 2011 by Ashley Park

The last week has seen chocolatier Thorntons joined by TJ Hughes and Jane Norman issue a triple dose of bad news for the high street. Whilst Thorntons announced plans to close 180 shops, TJ Hughes and Jane Norman are entering administration. These announcements could result in up to 6000 job losses and yet more empty units appearing in what used to be bustling town centres.  With HMV, JJB Sports and Mothercare amongst others also planning drastic reductions in store numbers it appears that whilst there has been many positive signs over the last few months that many more people are on the brink of financial hardship.

 The Lloyds banking group also announced plans to cut 15,000 jobs, which would take the total number by the group to almost 45,000.

People facing redundancy can seek advice from Ashley Park Debt Solutions on what options may be available to them to help deal with a loss or reduction to their household income.

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Legal Aid Cuts a Blow to Those Already Struggling.

Posted on June 27, 2011 by Ashley Park

Many of the nations most vulnerable will be left without legal help after a cut of 73% in Legal-aid funding.New plans unveiled show that Legal-aid will no longer extend to welfare and debt advice.

In Calderdale the Legal Aid group has calculated as a result of the cuts which would save £201,938, 1,102 people would miss out on specialist debt advice whilst The Chesterfield Law Society launched a petition last week to challenge cutbacks which could see 2,410 people in Chesterfield, North East Derbyshire and Bolsover districts stripped of access to legal assistance.

A big concern is the number of people who become unemployed and are faced with having to make a benefits claim and deal with multiple debts have less help than before.  Many people as a result of the current economic situation are finding themselves in this situation for the first time in their lives and have to cope without the assistance that would have been available to them before.   

In Hastings, It is estimated that Legal-aid cuts could equate to a loss of up to half of their Citizens Advice Bureau funding.

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Shares Hit Both Side of the Atlantic

Posted on April 19, 2011 by Ashley Park

MORE than £32billion was wiped off the value of major UK companies yesterday as America reeled under a mounting debt crisis according to a report in The Sun newspaper

Britain’s FTSE 100 shares index tumbled by 125.93 points to 5870.08. Shares also slumped on New York’s Wall Street as experts warned the US is living way beyond its means – and its credit rating could be cut unless debts of £8.6trillion are tackled.

City economists said the global recovery was now at a “tipping point” as the crisis in the world’s biggest economy sent shockwaves around the globe.

Ratings agency Standard & Poor blamed a free spending White House for running up huge debts.

It said: “More than two years after the beginning of the recent crisis, US policymakers have still not agreed on how to reverse recent fiscal deterioration.”

At the same time The UK has been praised for cutting spending, whilst this may have left businesses and people alike struggling this shows that it was the right thing to do. People affected by the government spending cuts may need to seek help through alternative solutions such as Debt Management and IVA`s. Ashley Park Debt Solutions provide advice and assistance to people who are struggling with their debts and are unable to obtain a personal loan.

You can request a call-back from Ashley Park Debt Solutions at www.ashleypark.co.uk

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