London is one of the world's most significant cities in the world in terms of history and architectural marvel. The city has been home to many of the world's great scientists, scholars, queens and kings. If you plan on visiting London this weekend, below are a few things and places you should definitely consider doing and visiting.
The Jaw Dropping- London Mime Festival So, what's on in London this January? The London International Mime Festival (LIMF) is annually held in London. This year, the show will continue till the 1st of February, 2014. The event started in 1977 and no other event of this type has run this long. Not only are the shows popular, but the after-show discussions with the artists are equally the rage.
Revive Your Soul- The Commitments: a Musical Amongst the 'what to do in London this month' options, you can go to a screening of The Commitments. Bookings are open till the 26th of January. The musical is based on the hit novel by Roddy Doyle. A group of young Irish girls and boys bond over their common love for music. You will get to hear some great classics including 'Mustang Sally', 'Papa Was A Rolling Stone', 'In the Midnight Hour' and 'Try A Little Tenderness'.
Cheer For Your Favourite Player at The Masters! The greatest event in Snooker- The Masters is being held in London at the Alexandra Palace. The venue has been changed after a long 32 years.
Laugh your Guts Out with Monty Python's Spamalot This hilarious show has been running for over a year. The show comes to an end next month which is why seeing it should top the things to do in London this weekend.
Ice Skate to Your Heart's Content! London's Canary Wharf still offers you to ice skate in case you missed doing it as you were preoccupied with all the festivities of last month. It closes on the 16th of February so it is definitely one of the things to do in London.
If you intend on visiting London some other time, check out the London This Weekend updates for every week on the happenings in the city.
Bankruptcy is a formal court procedure which you can start or which one or more of your creditors owed at least £750 can start. Your assets (with certain exceptions) are sold to help pay your creditors. However, you can usually keep your personal belongings, the contents of your home and your tools of trade (which may include your car) unless they have a high value. I search financial blog for advice and read on - Pros and Cons of an IVA.
If you have surplus income after meeting your essential household and personal expenses, you will have to make payments out of your income for up to 3 years.
Your assets and income are dealt with by a licensed and regulated insolvency practitioner or by a government official called the official receiver. Bankruptcy usually lasts for 1 year, and once you have been freed (discharged) from your bankruptcy, you are released from your debts (with certain exceptions).
• Debts are written off, with certain exceptions applying • Creditors can't take further action unless the debts are secured on your home or other property. • It allows you to make a fresh start after only a year. • You may be able to avoid having to sell your home if your spouse, partner or a relative can buy your share of its value after debts secured on it have been paid.
Insolvency advice can provide a confidential, fast and proven service in negotiating financial solutions for those in debt. Insolvency advice is available nationwide and insolvency advice has helped hundreds of people over the years through procedures such as Individual Voluntary Arrangements (IVAs).
Many creditors have dedicated insolvency advice departments dealing with debt collection and considering IVA proposals. Insolvency advisers have a long relationship with these departments and have a high success rate in agreeing significantly reduced repayment plans over a fixed term, with any remaining debt written off at the end of the Arrangement.
By obtaining insolvency advice with an IVA with us you will benefit in the following ways: - No up-front fees - No more stress - Just one affordable monthly payment - Full control of your finances - No more telephone calls demanding payment - No more threatening letters - All interest frozen and - A return to normality
There are no large up-front fees to pay as with some insolvency advice companies. Insolvency advice companies are licensed under the Consumer Credit Act 1974 to carry on all categories of credit hire business. Get also IVA, Debt management, bankruptcy-insolvency advice.We are also registered under the Data Protection Act 1998. Our qualified Insolvency Practitioners are licensed with the Insolvency Practitioners Association.
What is Bankruptcy? Bankruptcy is one way of dealing with debts that you cannot pay. Bankruptcy proceedings eventually free you from overwhelming debts, however any assets that you have may be sold and the proceeds shared amongst your creditors. Bankruptcy lasts for twelve months, after which time you can make a fresh start.
What are the effects of Bankruptcy? - You will have to report to the Official Receiver and provide him with details of your financial affairs - The Official Receiver will effectively own all your assets and look to realise their value for the benefit of creditors - You will usually have to close your bank account - You are unable to obtain credit exceeding £500 without disclosing your bankruptcy - The Bankruptcy Order is registered with credit reference agencies for at least six years - Your employment may be affected depending upon what job you do - You cannot be a company director or hold public office
What is IVA debt advice? An Individual Voluntary Arrangement (IVA) is an agreement between you and your creditors whereby you make funds available for distribution between the creditors bound by the agreement. This usually involves making one monthly payment out of your income for a set period of time and, if you have any assets such as equity in your property, endowment policies etc you may have to make some of this available to creditors as well.
Can I apply for an IVA debt advice? If you are unable to pay your debts as they fall due you may apply for an IVA. This applies even if you have assets that, if sold, would cover your debts. If you are already subject to a Bankruptcy Order you may still apply. If the arrangement is approved, your Bankruptcy is annulled.
What are the benefits of IVA debt advice? - Interest and charges on your debts are frozen - Creditors stop ringing and writing to you - they contact the Supervisor of the IVA - An IVA gives you protection from creditors by way of a court order - Once your obligations under the IVA are fulfilled, your debts are then written off - You potentially avoid bankruptcy - Your credit rating is not as seriously affected as in bankruptcy - You can continue to trade
If your creditor has taken you to court for a debt, they may have a county court judgment (CCJ) or other court order against you. This is where the court orders you to pay back the money you owe. A court order means you have to either make regular payments to your creditor or pay the whole debt off by a certain date.
If you don't keep to the terms of the court order, your creditor has a number of other options to try and make you pay. One of these is to get a further court order called a charging order. A charging order secures the debt against your home or other property you own. This makes the debt very serious. It means that you could lose your home if you don't pay back what you owe.
Once a charging order has been made, your creditor can apply to the court for another order to force you to sell your home. This is called an order for sale.
This page tells you about when a creditor can apply for a charging order, what happens when they apply and if they try to force you to sell your property.
If your creditor tries to get a charging order, you should get urgent help from a specialist debt adviser at your local Citizens Advice Bureau. To search for your nearest CAB, including those that can give advice by e-mail, click on nearest CAB.
For more information about CCJs and court orders when you owe money, see You are taken to court for debt. When can a creditor apply for a charging order? Your creditor can only apply for a charging order if they've already got a county court judgment (CCJ) or other court order against you. The rules about when a creditor can apply for a charging order changed from 1 October 2012. Before you start, check: - the date your creditor applied for the original CCJ - the date the CCJ was granted - what the CCJ says about repayments. - A creditor must take you to court to get a charging order.
This means that your creditors accept a reduced offer of repayment to settle their debt. By entering into an IVA, your total debt repayments – including costs – can be reduced by up to 40-60%!
Payments are usually made over five years, after which the remainder of your debt is written off. During the repayment period, all interest and charges are frozen and you will receive no more correspondence from your creditors.
- All interest and charges on your account are frozen. - Your account is administered by a fully qualified, licensed insolvency practitioner, who takes responsibility for liaising with your creditors and distributing funds on your behalf. - We can perform a confidential review of your circumstances to see whether you are eligible. - A legal process for UK residents (excluding Scotland) with a significant debt problem. - On agreement your creditors accept a reduced offer of repayment in full and final settlement of the debt. - Payments are normally made over a 5 year period, following which the remainder of your debt is written off. - Debt write off applies only where an Individual Voluntary Arrangement is suitable, adhered to and at the end of 60 months. This relates to unsecured debts that were included with an IVA and does not include any secured debts, mortgages, HP or utility bills. Failure to adhere to an IVA can result in bankruptcy. An IVA will affect your credit rating for up to 72 months after the completion of your IVA. - A Fee payable – this is paid out of your month contributions to your IVA and will be notified to you in advance - Homeowners may be required to re-mortgage after 3 years. - Alternative solutions such as debt management may be offered.
PPI stands for 'Payment Protection Insurance'. It's designed to cover your loan or credit card repayments for a year in the event of an accident, sickness or unemployment, or sometimes just accident and sickness.
Mortgage PPI wasn't as commonly mis-sold, so it's less of an issue. Remember, good PPI protects your mortgage repayments in the event of accident, sickness or unemployment - see the Mortgage Arrears Help and Mortgage PPI guides for more.
Mortgage lenders can legitimately say that having PPI is a condition of allowing you a mortgage - but they aren't allowed to say it must be theirs.
Yet it's been widely mis-sold, and you could even have it without knowing. If you were mis-sold PPI, you may be able to reclaim £1,000s.
According to the Financial Services Authority (FSA) banks and other lenders have been "mis-selling" PPI for many years to millions of people in the UK. Following a ruling in April 2011 by the High Court, banks and other lenders must process claims made for mis-sold PPI but banks have been "unhelpful" causing unneccesary difficulty and delay. According to the FSA, redress paid to consumers in 2011 reached £1Billion, a fraction of the £7 Billion estimated to be reclaimed.
An Individual Voluntary Arrangement (IVA) is a formal agreement between you and your creditors where you will come to an arrangement with people you owe money to, to make reduced payments towards the total amount of your debt in order to pay off a percentage of what you owe then generally after 5 years your debt is classed as settled.
IVA Pros: - Creditors who vote against your proposal are still bound by it. - Creditors whose lending is unsecured can't take any further action. - Interest is usually frozen as long as you kee pup your payments. - Your insolvency practitioner will help you prepare your proposal, including agreeing the level of your household and personal spending based on guidelines acceptable to creditors. - Many insolvency practitioners will allow you to pay their fees for preparing your proposal monthly, as part of the IVA. - You make only a single payment each month or quarter. Your insolvency practitioner is responsible for administering and distributing your payments. - The terms of an IVA will usually enable you or your spouse or partner or a relative to make arrangements to buy your share of the net worth of your home or to make extra payments, rather than the home having to be sold. This may be done through a remortgage or a loan. (Net worth means its value after any debts secured on it have been paid.) - On completion of the IVA, the balance of what you owe your creditors is written off. - You may be able to continue running any business you have.
IVA Cons: Your IVA is entered on a public register. - The insolvency practitioner may require payment in advance for preparing your proposal and getting your creditors' agreement. - If there is some equity (value) in your home after taking account of the mortgage(s) on it, you will probably have to pay for your share, usually in the fifth year of your IVA, by remortgaging the property. If you can't get a remortgage, you may have to continue making monthly or quarterly payments from your income, for up to another year. - If your circumstances change, and your practitioner can't get creditors to accept amended terms, the IVA is likely to fail. You will then still owe your creditors the full amount of what you owed them at the start, less whatever has been paid to them under your IVA. - If your IVA fails, you may be made bankrupt.
A Statutory Demand is a formal process under the Insolvency Act 1986 for the payment or other satisfaction of a debt that is owed by a debtor to a creditor.The Statutory Demand provide the debtor with a limited amount of time (18 days) to either pay or satisfy the debt or have it set aside by the court.
A statutory demand is a special type of written request from a creditor (someone who is owed money) for payment of a debt. The person or company that receives the demand has 21 days to settle the debt or 18 days to ask the court to set aside (dismiss) the demand. The creditor may present a petition to court for a: - bankruptcy order if after 21 days, a statutory demand claiming the debt which is equal to or exceeds £750; or - winding-up order if, after 21 days, a statutory demand claiming the debt exceeds £750 is not: - paid - secured (an agreement reached for payment), or - set aside
There is no expiry period for a statutory demand. However, under the Limitation Act 1980, a debt must not be more than 6 years old or based on a default judgment more than 6 years old. This period can start to run again from any date the debtor agrees the debt exists and may be extended more than once. You may need legal advice if you think the debt is affected by this time limit.