Nicola Bentley (39), from Oxted, Surrey, was the sole director of Stephensons (National Window Cleaning) Ltd and has now been disqualified from being a company director for 7 years. Her ban is effective from 31 December 2020.
The company was incorporated in January 2017 and provided window cleaning services, predominantly for bookmakers.
The window cleaners traded for 2 years but in January 2019 entered into creditors voluntary liquidation and Nicola Bentleys conduct was referred to the Insolvency Service for further investigations.
The Insolvency Service found that from February 2018 until the company went into liquidation, Nicola Bentleys company had spent almost 1.7 million.
Nicola Bentley, however, failed to preserve accounting…
Read the full article at: https://www.miragenews.com/window-cleaning-boss-banned-after-failing-to-account-for-17m/
U.S. corporate bankruptcies reached their worst levels in 10 years in 2020 as the coronavirus pandemic upended global industries and struggling companies faced their breaking points.
A total of 630 companies declared bankruptcy in 2020, according to an analysis by S&P Global Market Intelligence. This surpassed the number of filings in every year since 2010.
Market Intelligence’s analysis is limited to public companies or private companies with public debt where either assets or liabilities at the time of the bankruptcy filing are at least $2 million. Private companies without public debt must report at least $10 million in either assets or liabilities at the time of filing.
Several high-profile companies, especially those relying on co…
Read the full article at: https://www.spglobal.com/marketintelligence/en/news-insights/latest-news-headlines/us-corporate-bankruptcies-end-2020-at-10-year-high-amid-covid-19-pandemic-61973656
SAN JOSE, Calif., Jan. 5, 2021 /PRNewswire/ –So, you spent more money during the holidays than you planned. And not only did you overspend, you used credit cards or personal loans to finance the purchases. What follows is tips on what you can do to help pay down extra holiday debt this year, from myFICO.
For more loan and credit education, visit myFICO’s blog at https://www.myfico.com/credit-education/blog
As January rolls around, you may start to regret the extra debt you took on at the end of last year, yet feelings of buyer’s remorse won’t solve financial and credit problems. What you need is a plan to deal with the debt. Here are three strategies that might help you.
1. The Debt Snowball or Avalanche Method
The debt snowball and …
Read the full article at: https://www.prnewswire.com/news-releases/3-strategies-to-help-you-pay-down-extra-holiday-debt-301200478.html
The new year is always a good time to evaluate your finances. One of the first things you can do is take a look at your credit cards.
Credit cards are known for their high-interest rates, and this can waste a lot of money over time. The BBB suggests you see if you can use a balance transfer offer to switch to a card with a lower rate. Do your research on the BBB’s website first. Consumers nationwide filed more than 8,933 complaints against credit card companies in 2019. Make sure to read the terms and con…
Read the full article at: https://abc11.com/finance/how-to-get-out-of-debt-and-boost-your-credit-score-in-2021/9348175/
Member Article
The latest annual personal insolvency statistics for 2019, recently released by the Insolvency Service, show that even before the financial effects of COVID-19 hit peoples incomes, Yorkshire and the Humber once again saw above-average rates, and Scarborough recorded the highest level of personal insolvencies of any local authority across England and Wales.
Insolvency trade body R3 points out that even prior to the economic impact of the pandemic, many adults in the region were already struggling with Yorkshire and the Humber the third highest for personal insolvencies, rising to 29.5 adults per 10,000 from 28 the previous year. This is above the average level of personal insolvencies across England and Wales which was 26…
Read the full article at: https://bdaily.co.uk/articles/2021/01/05/scarborough-named-local-authority-with-the-highest-personal-insolvencies-in-england-and-wales-r3-comments-on-2019-statistics
When Duan Jun, a father from the city of Dongguan in southern China’s Guangdong Province, paid full-year tuition for his child in advance, he never thought that the online education institution would go bankrupt.
Xuebajun, a video-tutoring platform that follows a one-on-one format, was recently reported to be in dire financial situation and was on the verge of bankruptcy. In a message posted on his social media on January 2, Zhang Kailei, founder and CEO of the company, said investors had refused to fund the company, “In this bitter winter, this 8-year-old company is about to go bust.”
Duan has so far invested more than 50,000 yuan ($7,743) on the platform, with 300 remaining class sessions for his child left untouched. He has no…
Read the full article at: https://news.cgtn.com/news/2021-01-05/The-crash-of-an-education-startup-left-Chinese-parents-disillusioned–WNwtwPflUA/index.html
The new year is always a good time to evaluate your finances. One of the first things you can do is take a look at your credit cards.
Credit cards are known for their high-interest rates, and this can waste a lot of money over time. The BBB suggests you see if you can use a balance transfer offer to switch to a card with a lower rate. Do your research on the BBB’s website first. Consumers nationwide filed more than 8,933 complaints against credit card companies in 2019. Make sure to read the terms and con…
Read the full article at: https://abc11.com/the-debt-credit-getting-out-of-card/9348175
Fees for personal insolvency applications will continue to be waived until at least the end of 2023, Justice Minister Helen McEntee has announced.
The waiver of all fees payable to the Insolvency Service of Ireland and to the courts was first introduced in 2014 and previously extended in 2017.
It will now continue until at least 31 December 2023 and will be re-evaluated in 2023 in light of the economic situation then.
Ms McEntee said: Continuing the waiver of fees for personal insolvency applications is a small but important step in the governments recognition of the real financial difficulties faced by many households, and our ongoing efforts to help remove barriers for mortgage holders and others who wish …
Read the full article at: https://www.irishlegal.com/article/personal-insolvency-application-fee-waiver-to-continue-until-2024
Huseyin Gozel (41), from Norwich, was appointed director of Mardin & Maras Limited in June 2014. The company had been incorporated two years earlier in May 2012 and traded as Caesars Pizza & Kebab on Dereham Road.
In September 2019, however, Mardin & Maras entered liquidation as it could not pay its debts and Huseyin Gozels conduct was referred to the Insolvency Service for further enquiries.
Investigators found that from February 2013 until May 2018, Huseyin Gozel had caused the company to deliberately supress its takings on returns submitted to the tax authorities.
Huseyin Gozel had also deliberately failed to account for the correct PAYE tax and National Insurance tax contributions for four consecutive tax years between 2015 and…
Read the full article at: https://www.miragenews.com/takeaway-boss-supresses-sales-landed-with-7-year-ban/
Stationery chain Paperchase is on the brink of administration after most of its stores were forced to close over the Christmas period.
The firm has filed a notice to appoint administrators, a move that will give it breathing space from its creditors while it works out a rescue plan.
The company has 127 stores and about 1,500 employees.
The second lockdown in November came at a crucial period for the firm, which makes a high proportion of sales then.
Just under half its sales, 40%, come from trade in November and December.
Paperchase said: “The cumulative effects of lockdown one, lockdown two – at the start of the Christmas shopping period – and now the current restrictions have put unbearable strain on retail business…
Read the full article at: https://www.bbc.com/news/business-55547354