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Slight fall in Scottish insolvencies
The number of people entering insolvency in Scotland has actually fallen over the last year, although only slightly.
The Accountant in Bankruptcy (AiB) , Scotland`s Insolvency Service, has just published its latest figures, showing us how many people entered insolvency to tackle their debts between April and June this year.
Cost of living 20% higher for British families
The Joseph Rowntree Foundation published research indicating that the cost of living has risen by 20% for many British families with children since last year. They must now earn one fifth more to maintain an acceptable standard of living.
The research indicates a couple with two children need to earn at least £18,400 each if both work full-time, whereas a single person with no dependants needs to earn £15,000. A lone parent would need to earn a salary of £18,200.
Northern Ireland: IVAs, bankruptcy… and now DROs
Debt Relief Orders have been introduced in Northern Ireland, which could help people who need to enter insolvency, but for whom neither bankruptcy nor an IVA (Individual Voluntary Arrangement) would be appropriate.
In England and Wales, DROs have been around since April 2009. In Northern Ireland, they were introduced last week. The Northern Ireland Executive`s website, northernireland.gov.uk , provides some details, quoting Enterprise Minister Arlene Foster.
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