Tuesday, Nov 03, 2009
Record personal insolvencies
Record number of Britons to be declared insolvent: Telegraph
Mark Sands, personal insolvency experts Tenon Recovery's national head of bankruptcy, said: “I expected this year to be the worst on record but even I have been stunned by the level of personal insolvencies - we are sailing past the previous record and still have more than two months of the year to go. At this rate we expect to see as many as 130,000 personal insolvencies over the whole of 2009, an increase of 22 per cent on the levels seen in 2008. Even with interest rates close to zero, the effects of the downturn combined with the massive build up of consumer debt in the good years have created ‘a perfect storm’ that is sweeping more people into personal insolvency than ever before."
Posted by wanderinman @ 07:01 PM (1230 views) Add Comment
15 Comments
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1. sneaker said...
I wonder what the statistics would be like if the recession weren't over ha ha
2. clockslinger said...
Seems to me much of the increase is down to the attractiveness of going bankrupt these days. One year ond you can be out and doing it again. Write it all off to experience and get some more loans. This is the dream...the Teflon "enterprise society" run on endless credit.
3. novice pete said...
Declaring bankruptsy,could the media spin this into being the latest 'chic'? Any absurdity seems possible these days.
4. novice pete said...
oops! bankruptcy
5. Gt74 said...
Base rates may well be 0.5%, but personal interest rates are 20-40% on this unsecured debts.
Banks are causing this.
6. hpwatcher said...
Seems to me much of the increase is down to the attractiveness of going bankrupt these days. One year ond you can be out and doing it again. Write it all off to experience and get some more loans. This is the dream...the Teflon "enterprise society" run on endless credit
It's fantastic isn't it? New Labour's socialist utopia - we all get what we want!!!!
7. vindicated said...
Clearly this is where I am going horribly wrong!!! Being totally debt free and saving to pay for non-essential/luxury items and holidays etc is clearly a mug's game. Sod it...... think I'll run up a truck load of debt buying BMW's and plasma screen TV's and just stroll away from it at a later date.
Silly ol' me.
8. estrader said...
@5 "Banks are causing this"
If interest rates on unsecured debt was 0% people would still get themselves into debt problems. Have you ever lent money to someone who never paid you back? Did you blame the interest rate you were charging? *LOL*
9. crunchy said...
THEY ARE MAKING YOU WEAKER FOR THE NEXT PHASE.
THEY ARE ONLY HALF WAY THERE. A spine will be required now. looking at this thread you are putty in their hands.
Record personal insolvencies... See how it works, much more to come. What happened to the referendum. Yet you still sleep.
How many warnings do you need, A hundred will be too late.
How you suffered for your "sanity" Vincent. Listen to the song and cry. Only the minority can be truely sane as you will find out in time.
10. This comment has been removed as it was found to be in breach of our Blog Policies.
11. fubar said...
Cruchy - please piss off with your loony shite.
12. crunchy said...
11. fubar
Morning spineless hero. You will now have to fight for your right for a true vote. Figure it out dumbo.
I will go when I am good and ready little thomas.
Look at the videos again, and next time don't suck your thumb and misplace your pathetic excuse for anger.
This song was never for you. "cry for your fellow man if he is worthy."
13. fubar said...
crunchy - The stupidity comes off your posts like steam. You spam this place with your Brainless uncritical swallowing of conspiracy shite. Now - fock off you tedious little pr1ck -
14. crunchy said...
13. fubar
Methinks one protest too much.
Tell me why the crime scene was shipped off to China in such haste.
If you did not spot the obvious in those videos. i would like to understand what makes people close their eyes to the obvious.
Please reply and do not change the subject.
15. crunchy said...
13. fubar Not such a big mouth now.
Let's find out who the nut really is.