Monday, Feb 19, 2007
And these people think this is the end? This is just the beginning
Times Online Business: Banks to write off record £6.6bn of bad personal debt
Write-offs today are almost twice as much as a proportion of the loan book as they were in the depths of the early 1990s recession, when unemployment and interest rates were three times as high. With record numbers already walking away from their debts, the move to insolvency could turn into a stampede in the event of a recession.
Posted by lvmreader @ 11:51 PM (136 views) Add Comment
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