Monday, Mar 01, 2010
What would it have been like with normal interest rates ?
BBC News: UK banks see surge in bad debts
The level of debts written off because defaulting borrowers will never repay them shot up in 2009, Bank of England figures have shown.
In 2009, financial institutions wrote off £4.12bn in credit card loans, up from the previous record amount in 2008 of £3.2bn.
The value of mortgages written off more than doubled, but from a lower level, from £408m in 2008 to £984m in 2009.
The figures reflect the effect of the recession on personal debts.
Posted by exiges @ 12:13 PM (169 views) Add Comment
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