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Caligari

Lenders Aim To Put Homes At Risk To Recover Credit Card Debt

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Interesting article , heard about these 'charging orders' on the radio a while back. Added to the repo' figures - which they effectivley seem to be - could start looking like the 90's again.

D

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Guest Charlie The Tramp
Now the Department for Constitutional Affairs is planning to make it even easier for the banks, credit card firms and major stores to repossess debtors’ homes. The department is planning legislation to allow charging orders to be made even against those who are keeping up the agreed payments to pay off their debts.

A spokesman for the department said that it was committed to implementing the proposals outlined two years ago. “It remains the Government’s position that responsible lenders who are owed money and have gained a valid judgment through the courts should have the right to enforce that judgment by the most appropriate means available," he said.

Well that will surprise the house owning 50k credit card debtors who think bankruptcy is the easy way out.

It certainly will be different this time around.

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Well that will surprise the house owning 50k credit card debtors who think bankruptcy is the easy way out.

It certainly will be different this time around.

The Govt can hardly describe the lenders as irresponsible if they do not admit to a bubble caused by exuberant lending/multiples! No such thing as unsecured debt now?

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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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