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A
harrowing experience forecast to be endured by 250,000 people in
Liverpool
ACCORDING to
Michael McLaughlin who is releasing a book called 'Debtor’s
Revenge' later this year, an estimated 250,000 people in and
around Liverpool, 2008 will be met by considerable dread as they
realise their income doesn’t meet their commitments. In stark terms
this means insolvency and loss of self respect. Unable to get credit
many may lose their homes, their businesses; family break up often
accompanies such trauma. The year, 2008, many fear, will be known as
‘The Year of the Credit Crunch’.
Debt advisors are already struggling to cope. The city’s Specialist
Advisory Service, a consortium of Citizens Advice Bureaux have 22
debt advisors situated through the city. Each can be expected to
deal with 6,000 clients each year.
Typical debts are said to be three times higher than they were five
years ago. Credit card debt has doubled to average more than
£50,000. Home repossessions are set to leap by 50% and unemployment
is forecast to reach 1,800,000.
It isn’t true to say that debt is self inflicted. Many in trouble,
businesses especially face difficulty through no fault of their own.
A Government Minister quoted in the Financial Times says:-
"Most of those made bankrupt each year are honest, ordinary
businessmen and women, with fewer than one in ten bankrupted through
dishonest dealing."
Although the problem of debt is endemic it still isn’t openly
discussed. There is still a stigma attached to insolvency. Those
affected are bewildered; they tend to keep their problems to
themselves. Unsure of who to turn to they search for books that
might offer solutions but the few that exist tend to pose more
questions than answers. Worse, there’s a lot of ‘debt consultants’
out there and many leave much to be desired.
One person who did stare fiscal meltdown in the face was Michael
Walsh-McLaughlin. He found that whilst there was an excellent
support system in place for alcoholics, the bereaved, dysfunctional
families, gamblers and those suffering from drug addition, there was
little in place to help debtors through a distressing life changing
calamity. He says his biggest regret was not having anyone to turn to
who could offer guidance and practical assistance. It was only when
he walked into the city’s CAB office that he found real support.
“I don’t know where I would have been without them. Sadly today they
are quite overwhelmed and the waiting list for an appointment is
growing longer by the day.” said Michael McLaughlin.
His own experience revealed many mysteries relating to debt and the
industry which thrives on it, the bureaucracy that surrounds it, and
most important of all how to get to grips with it; avoid the
pitfalls, reduce risks and costs; even keep one’s home and business.
He is scathing about the rapaciousness of those who solicit debt and
then make even more money when their victims fall on hard times.
“The Government should do much more than it does” Michael
McLaughlin says.
If you have had
problems getting help, let us know, in confidence, by
emailing our
news desk at , as we
are looking at doing an article later this year on this topic.
TAKE INTEREST IN FREE OVERDRAFTS!
NEARLY 40% of
all current accounts on the market offer an interest-free overdraft
limit, although fewer than half that number will automatically set
up an overdraft for customers straying into the red, according to
new research from MoneyExpert.com.
The independent comparison service says the number of accounts with
the 0% buffer zone has increased from 32% last October to 63%, now
with an average limit of £428, up from £368 last year.
But MoneyExpert.com says only 44% of accounts with interest-free
overdraft limits will automatically set up an overdraft facility for
customers who stray into the red.
And with some interest-free overdraft limits going as high as
£3,500, MoneyExpert.com is urging customers to check the terms of
their bank account, as they could avoid borrowing on a credit card
or personal loan if their overdraft can tide them over high-spending
periods. But be warned, some banks remove the facility if it is used
to often or of not used!
The average interest rate for customers who go into the red without
permission across the 159 current accounts on the market is a
punitive 21.05%. At that rate if you were to spend £500 on an
unauthorised overdraft you could incur £105 annual interest!
You can check your credit history by
visiting sites like Experian or MoneyExpert
to find out what your credit rating is. Checking your credit
score can will help protect you against ID fraud and will enable you
to check for any inaccuracies in your report that could lead to
problems later down the line.
Let our news desk know what you think about interest-free overdrafts
and just how easy is it really can you get them by emailing us at
news24@southportreporter.com.
Letters to editor:- "Can your readers help me?"
"I am trying to
find Vernon Wyland. I lost contact with him about 1990. Since then I
have found a sister who was given up for adoption. I have no history
nor any bad feelings toward Vernon, but believe he may have some
answers for myself and Jan. I have also found out that there was
also another child born. As Vernon is 11 years older than me and I
have not had any great contact with him since he left Australia in
1971 to get married. Jan believes she may have found his eldest son
Stephen on a genealogy site, but has had no luck getting any
responses from him. I have tried placing adds in local
newspapers with no luck. I have since done research on a records
site and have had a hit on an email site with his surname in the
Southport area. This is a case of no expectations from him but am
hoping he may have even one answer. It would be great to say gidday
again too."
kfowke@aapt.net.au |
Big Chip Technology Awards 2008
THE Big Chip Awards
for North West companies excelling in the use of IT and digital
technology are back in a landmark year that celebrates a decade of
digital performance and the 60th anniversary of the very first
computer, designed and built in the North West.
In celebration of its 10th anniversary, the awards will be bigger
and better with new categories more accurately reflecting the
changing digital landscape, including for the first time, a ‘green’
award for technology designed to help protect the environment.
Awards organiser Manchester Digital is inviting companies from all
sectors across Merseyside to submit their entries for the 2008
awards.
The call for entries is to digital sector companies and all
businesses, creative agencies and organisations which have
undertaken digital initiatives in the past year – everything from a
company website to digital marketing.
The awards will hold particular significance this year, recognising
the growth of the IT industry in the North West ever since
Manchester produced the world’s first stored program computer or
‘baby’ as it was known, 60 years ago.
Reflecting the growing importance of sustainability and environment,
the new ‘Big Green Chip Award’ will recognise outstanding use of
digital technology that has directly or indirectly helped improve or
preserve the environment, or that has achieved its goals in a
sustainable way. The awards also boast sub-regional categories for
Cumbria, Greater Manchester, Merseyside, Lancashire and Cheshire &
Warrington.
The new ‘Best Application of Technology’ award recognises that,
since the pioneering work 60 years ago to build the world’s first
computer, the North West has always led in the innovative
application of computer technology. The new award offers a chance
for companies with a particular strength in digital technology to
win a Big Chip.
Entries are submitted online at
www.bigchipawards.com. The
first two entries are free. Subsequent entries cost £75. The closing
date for entries is 3 March 2008. The Big Chip Awards will be
announced at a glittering awards dinner on Thursday 22 May 2008 at
new Century Hall in Manchester.
This year’s judges will be made up of a panel of figures from the
sector chaired by Michael Nutley, editor of weekly industry
‘bible’, New Media Age.
Organised by Manchester Digital, the trade association for the
region’s digital sector, and supported by the Manchester Digital
Development Agency, the awards are open to any organisation based in
the North West that has designed or commissioned any digital
projects in the past year. This can include website, DVD, animation,
wireless or SMS projects.
Last year’s winners spanned a wide variety of sectors and included
Pavilion Communications, Stardotstar, designer fashion boutique
Gorgeous Couture, and animation specialists The Neighbourhood which
took the coveted Grand Prix award.
Chair of Manchester Digital, Shaun Fensom, said:- “Over the
past 10 years the progress of the digital industry in the North West
has been incredible and the Big Chip Awards has grown alongside it.
Like any other growing sector, there have been pitfalls as well
success but no one can deny the impact that IT has on society.
Especially the power of the Internet, which has crept into the lives
of millions of people across the region over the past 10 years.
This is a landmark year for the digital industry, celebrating the
60th anniversary of the world’s first computer in Manchester. This
year’s Big Chip categories reflect how far the digital industry has
come and the wealth of expertise that we have in the region. The
introduction of a special Green Chip award for those whose
applications or projects have helped the environment in some way,
also points to the future, where digital technology is increasingly
playing a part in helping to reduce our impact on the environment.”
The Award categories are:-
* Best E-business Project
* Best Public Sector Project
* Best Not for Profit Project
* Best Digital Marketing and Brand Development
* Best E-Learning Project
* Best Use of Visual Design
* Best Application of Technology
* Best Use of Animation
* Best Use of Search
* Big Green Chip Award
* Best Freelancer/Micro Enterprise
* Big Chip New Media Agency Award (selected from shortlists for
other awards)
* Grand Prix (the best overall entry)
Sub Regional Categories:-
* Best from Cumbria
* Best from Greater Manchester
* Best from Merseyside
* Best from Lancashire
* Best from Cheshire & Warrington
In addition there will be several new categories of distinction –
further details to be announced shortly.
All entries are to be submitted online by 3 March 2008.
Click here to see the BigChip Promo Video. To keep fully up to date
visit their page on Mersey Reporter via clicking
here. |
