DebtBytes UK - Bankruptcy, Insolvency, Simple IVA & Bank Charges News UK http://myvesta.org.uk/blog/export.xml UK IVA and bankruptcy focused insolvency advice column for people that are dealing with problem debt, money troubles or falling behind on the bills. This advice column will provide you with information you can use. For more information visit Myvesta UK at Myvesta.org.uk.

en-us http://backend.userland.com/rss Your Friends @ Myvesta.org.uk (stever@myvesta.org) myvestaukblog_archive.html Free But Stupid stever@myvesta.org 112632587179866539 Nothing like a little free fun to idle away moments of life in a numbing mindless distraction.

Unless you have time to kill do not click on the link I'm about to give you. You will find yourself curiously distracted by this site. Clue, put your mouse to work. You'll see what I mean. Whatever you do, don't click here. You've been warned.

]]> 4:13 AM Your Friends @ Myvesta.org.uk Your Friends @ Myvesta.org.uk 2005_09_04_myvestaukblog_archive.html#112632587179866539 10 September 2005 10 September 2005 An Interesting Rumour stever@myvesta.org 112627125993456535 Word on the street has it that eBay wants to buy Skype, the internet telephony company. Apparently the price under discussion is £1.6 billion. I wonder what kind of feedback rating you get when you purchase an item of that size.

Maybe eBay should just list Skype for sale on its site? Imagine the final value fee on a £1.6 billion.

So what is this Skype company and why is it such a hot commodity? Skype has emerged as a major player in the voice-over-internet protocol (VoIP) or internet telephony market. They currently offer their service for free and users can place calls all over the world. About 50 million people are registered to use their service.

Google and Microsoft both want into this market because they see the huge potential. Companies like Vonage and Packet 8 have already demonstrated the public acceptance for VoIP.

I wonder, if eBay successfully purchases Skype, will you have to bid to make a call?
]]> 12:59 PM Your Friends @ Myvesta.org.uk Your Friends @ Myvesta.org.uk 2005_09_04_myvestaukblog_archive.html#112627125993456535 09 September 2005 09 September 2005 Debt Collection Communication Rules stever@myvesta.org 112618223280202089 It is unfair to communicate, in whatever form, with consumers in an unclear,
inaccurate or misleading manner.

Examples of unfair practices are as follows:

a. use of official looking documents intended or likely to mislead debtors as to
their status e.g. documents made to resemble court summonses

b. leaving out or presenting information in such a way that it creates a
false or misleading impression or exploits debtors' lack of knowledge

c. those contacting debtors not making clear who they are, who they work
for and what their role is

d. unnecessary and unhelpful use of legal and technical language

e. failing to provide debtors or creditors with information on status of
debts e.g. not providing requested balance statements.
]]> 12:22 PM Your Friends @ Myvesta.org.uk Your Friends @ Myvesta.org.uk 2005_09_04_myvestaukblog_archive.html#112618223280202089 08 September 2005 08 September 2005 More Free Digital Television Available stever@myvesta.org 112609767070839548 We’ve heard about Freeview from Sky TV but now the BBC and ITV announce a new free satellite digital television provider. The new service, Freesat, will provide the range of BBC and ITV channels to viewers.

While over 60% of the UK households receive digital TV, according to Ofcom, more will need to get onboard before 2012 when the Government plans to start switching off the old analogue TV signals.

[More]
]]> 12:48 PM Your Friends @ Myvesta.org.uk Your Friends @ Myvesta.org.uk 2005_09_04_myvestaukblog_archive.html#112609767070839548 07 September 2005 07 September 2005 MasterCard in Hot Water stever@myvesta.org 112609680502885215 The Office of Fair Trading (OFT) is on the hunt for the international credit card association MasterCard for its policy of charging an interchange fee on consumer transactions. The claim by the OFT is that this policy creates an unfair tax on consumers, in violation of British and European competition laws.

If MasterCard is found guilty of this action then guess who will be next up in the chamber, that’s right, Visa. This is a big deal with a lot of money at risk. Don’t expect this to be resolved quickly.

It is estimated that the cost of this interchange tax passed onto consumers adds £500 million to the cost of goods sold.
]]> 12:37 AM Your Friends @ Myvesta.org.uk Your Friends @ Myvesta.org.uk 2005_09_04_myvestaukblog_archive.html#112609680502885215 06 September 2005 06 September 2005 Selling on eBay? Beware of the Tax Collector stever@myvesta.org 112593900683289396 The Revenue is putting a big push to find those that sell from the car boot and on eBay to gently, or not so gently, persuade them to pay the taxes they owe from these sales avenues.

According to the insurer Prudential, about £1.5 billion exchanged hands just at car-boot sales. We you add the selling activities of the 50,000 registered Britons on top of that, the sales volume is substantial.

A recent Timesonline article stated, "Millions of people are involved in the informal economy, making a "bit on the side" to subsidise their income — and if you are one of them the Revenue has you in its sights. You could face hefty penalties and interest charges, as well as a bill for unpaid tax."

Apparently, these investigatory techniques have Revenue investigators working more like private detectives rather than civil servants. They are actively on the hunt for people that may simply not be aware of the regulations or who have had a hobby turn into a business.

When it comes to ferreting out innocent citizens that are trading on eBay, Revenue investigators are using the feedback ratings to track back sales to catch you.
]]> 4:48 PM Your Friends @ Myvesta.org.uk Your Friends @ Myvesta.org.uk 2005_09_04_myvestaukblog_archive.html#112593900683289396 05 September 2005 05 September 2005 This Isn’t Rocket Science – It is Cause and Effect stever@myvesta.org 112583900878486823 News out lately about growing insolvency and/or bankruptcy rate in the UK. Nobody should be surprised that the number of people in financial trouble will continue to increase as more and more people carry greater balances on all sorts of debt instruments like loans, credit cards, etc.

Insolvency is the by-product of debt but while figures will surely continue to rise, it will not become a major problem for creditors unless the percentage of people going bankrupt becomes a significant figure. The reality is that if you look at any creditors overall extended credit, those that file for bankruptcy protection are a very small percentage of that portfolio

The number of bankrupts will always sound like a big number because it is higher than before. But you have to ask yourself, the number is big but compared to what? It is like saying that the number 4 is alarming compared to 2 but not compared to 1,000,000.

For example, in the US the number of people that file bankruptcy is huge and always proclaimed as the highest number ever but when you look at the number of bankruptcy filers compared to the adult population that number is only about 6/10 of one per cent of eligible citizens that file for bankruptcy.

No doubt about it, bankruptcy is a bad thing to live though and on an individual level each person in that type of financial distress needs care, love, understanding and compassion. In that context, every person that files out of financial trauma is one to many.

For recent articles on the subject visit:

IC Wales

Times

Insolvency Statistics
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