Tuesday, Feb 10, 2009
Not encouraging for house price optimists
FT: UK credit card woes lift bond delinquencies
"Missed payments by UK credit card borrowers surged in the last three months of 2008 and lifted delinquency rates in bonds backed by such debt to a historical high"
Posted by letthemfall @ 03:58 PM (323 views) Add Comment
2 Comments
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1. Economicvoicedotcom said...
The last purchases made on these cards were probably for January's and February's mortgage/rent.
2. alan said...
Sounds about right to me. As a volunteer, I'm providing Debt Advice for a charity.
The well crafted article, full of financial precision to within a decimal place takes no account of the pain felt by people who have overspent and now face calamity.