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Realistbear

Uk Insolvency Rate Explodes -- Up 57% Yoy

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http://www.creditaction.org.uk/debtstats.htm

There were 20,461 individual insolvencies in England and Wales in the fourth quarter of 2005 on a seasonally adjusted basis. This was an increase of 15.0% on the previous quarter and an increase of 57.1% on the same period a year ago.

TTRTRates anybody?

http://business.timesonline.co.uk/article/...2065469,00.html

Biggest rise in card borrowing for a year

By Gabriel Rozenberg and Jenny Davey

CONCERN that Britain could be returning to its bad habits of soaring debts grew yesterday after official figures showed the biggest rise in credit card borrowing for a year.
Borrowing on credit cards rose by £733 million in January, the Bank of England reported. Overall net lending to consumers, the bulk of which is secured on people’s homes, rose by £10.5 billion, the fastest rise since July 2004.

The debt ridden society continues to borrow--perhaps to pay off debt rather than to buy new toys? No wonder retail continues to sink--the money is going into debt servicing! What a disaster we have now.

Edited by Realistbear

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Or Time To Tighten The Lending Criteria (TTTTLC). There will surely come a point when the bad debts get too much and the taps will be turned off irrespective of whatever the MPC do.

Roll on the day when lenders only extend credit to those who can easily afford to repay it.

Lenders will still need to lend, that is the nature of the business and the source of their profits.

Once they stop lending fu**wits the money, and only lend to responsible people who think twice before buying an overpriced house, the housing market will fall fairly quickly.

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Gordon's miracle is turning into the average British familes nightmare.

The wealth has been sucked from young families to the older generation who has little or no mortgage by means of debt.

The young are funding the older generation's reitirement with debt. The government are happy as it gets the OAP's of their back.

Shame, Shame.

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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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