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 Your Last Day at the Bank of England stever@myvesta.org 112920894704069430 The Bank of England is now prepared to fire the bottom 5pc of its staff every year, as it adopts management techniques more commonly found at Goldman Sachs or Morgan Stanley. All the Bank's 1,800 staff are assessed each year at Christmas for competence. This year, their managers will tell them if they have fallen into the bottom 90. If they have, they will forgo their annual pay rise, be placed on a year's notice, and have three-monthly reassessments. Those who fail to hit their targets and do not climb out of the bottom 90 will be fired without redundancy payments.
[Daily Telegraph page B1 - 13.10.05.]

]]> 1:08 PM Your Friends @ Myvesta.org.uk Your Friends @ Myvesta.org.uk 2005_10_09_myvestaukblog_archive.html#112920894704069430 13 October 2005 13 October 2005 Like a Duck to Water stever@myvesta.org 112894342030738967 Chip and pin credit and debit cards are here to stay. After 14 February 2006 you will be required to know and use your pin when you make a purchase with it. Up until this point merchants have been flexible in giving you leniency and allowing you to sign if you could not remember your pin. No more.

The results of the introduction of the chip and pin cards speak for themselves. Just this year, credit card fraud is down 29% according to the Association of Payments Clearing Service (APACS).
]]> 11:23 AM Your Friends @ Myvesta.org.uk Your Friends @ Myvesta.org.uk 2005_10_09_myvestaukblog_archive.html#112894342030738967 10 October 2005 10 October 2005 A Credit Card Suicide stever@myvesta.org 112886589544260394 I was reading a recent article in the UK about a Swiss clinic, Dignitas. The Zurich based assisted suicide clinic is thinking of opening an office in the UK in response to a higher demand for its services.

Reading the article reminded me of a conversation I had the other day with someone from South Africa. It was a conversation that I have had many times over my years of helping people. The person felt that they had failed financially and that suicide was the only way out.

There is a saying in the United States, “Guns Don’t Kill People. People Kill People.” It could easily be applied to debt, “Debt Doesn’t Kill People. People Kill Themselves.”

It is indisputable that the emotional trauma of financial problems can be severe. I can think of a couple of reported stories over the years where the specific cause of suicide was linked to financial problems.

Take the sensational case of the university student that hanged herself over her bed of credit card bills, or the printing company executive that returned home from gambling and killed his entire family.

Logically, there is never a single good reason for someone to contemplate suicide due to debt. And don’t even give me that argument that “I’m worth more dead than alive due to the insurance.”

There are always solutions to debt problems. Always! Problem debt is often the outgrowth of other underlying issues. Take the university student. She came from a dysfunctional single parent household where she essentially raised her mother. She had no siblings or close family. She felt all alone. When she got in over her head the financial problems felt overwhelming, and feeling alone did not help the situation. Feeling that she had no one to turn to for help and no hope of ever dealing with the problem, she killed herself. She owed about £12,000.

The printing executive left a suicide note and said that the reason he killed his wife and children was because he was too ashamed to tell them of his financial failure.

The point here is that the best solution to an overwhelming financial problem is never suicide. Never! If your financial situation feels overwhelming then you need to reach out for expert professional financial help. And never accept that there are not solutions. There are always solutions. If you don’t know where to turn for help, contact Myvesta.org.uk.

If you know someone that is talking about suicide, help them to get help. One place you can contact is Samaritans.org. They have many local offices across the UK. If you want to know more about the warning signs of suicide, click here.

In closing, remember that suicide is often a permanent solution to a temporary problem.
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