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Guest Charlie The Tramp

Credit Action Stats

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Guest Charlie The Tramp

Always an interesting read.

Credit Action Stats

At the end of July 2005 the total UK personal debt was £1,114bn. The growth rate remains strong at 10.7% for the previous 12 months. 2004 saw the largest single-year increase in debt (£116bn) since the Bank of England was founded in 1694.

Oh dear :(

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I know of a few friends in serious debt and I'm very worried about them.

BUT...this never ending debt mountain doesn't seem to be slowing.

I'm also getting frustrated with house prices too.

Ozz 'feeling rather depressed at the moment'

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Quote!.

Servicing Debt: The figures for the second quarter 2005 show that the total number of individual insolvencies has increased by 36.8 per cent on the same period as last year and has risen to its highest level in 45 years. Bankruptcies have risen by 27.5 per cent and Individual Voluntary Arrangements (IVAs), an alternative to bankruptcy, have risen by 69.6 per cent when compared to the figures for the same period last year. The number of people who have become bankrupt or entered into an Individual Voluntary Arrangement (IVA) in England and Wales in the last 12 months is 54,227. Personal bankruptcies have broken the 40,000 barrier for a 12 month period for the first time

Whats the APR on these figures and how many years before total populace goes bust. :blink:

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This is NO laughing matter!

This is serious - Why dont we all say sod it - I aint paying anything back and lets see if there will be a 'prisoner housing' shortage?

BTL's will move into PRISON property!

Hey, best phone dial-for-a-loan now and put an offer in on Walton Prison before the Buy-toilet weekly comes out!

on a serious note though - whilst I think that this is shameful to say the least. If people can't manage debt responsibly this will always exist. And whilst 'its SAFE as houses' attitudes exist lender will lend you anything against your property.

Let's hope the lenders think twice when making decisions on loans. Their 'prize asset' is a declining market - lets see how brave they are then?

I actually seen a programme where someone bought their BRAND NEW car on their credit card at 19% A.P.R. I must admit - I have used mine on a 30% deposit for a new car - but it was paid off before it probably cleared - could not be arsed betting 3k out of the bank in cash!

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  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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