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Guest Charlie The Tramp

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Guest Charlie The Tramp
BANKRUPTCIES ON THE RISE

Rising interest rates have been blamed for 28.5% more people falling into bankruptcy over the summer than at the same stage of 2003.

Government figures revealed a total of 9,156 people were made bankrupt in England and Wales during the three months to the end of September - 4% more than in the previous quarter.

The increase in insolvency took place against a backdrop of higher interest rates which have left many people overstretched.

You think this is bad news, wait until next year. :(

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chuck

9000 people out of 60 million....its actually nothing at all

Cant you do better than this to find something to get off on?

Seriously...dont be a knob and cite higher rate as the reason

firstly rates havent been higher for long..and they are still v low

secondly, to be a victim of bancruptcy via high rates would be a much more protracted scenario than 9 months (the period in which higher rates have kicked in over)

legal wheels turn slowly..so this cannot be the reason..bankruptcy wld take much longer than this

You let stats get in the way of reality

if figures are 28% up at 9000, this means 7000 people got into difficulty in the preceeding period

A difference in 2000 people pa in the total uk..hardly the signal of economic meltdown?

the deathrate doubled in my village last week compared to same period last year!!!

2 people died instead of one!

keep trying!

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chuck

9000 people out of 60 million....its actually nothing at all

Cant you do better than this to find something to get off on?

Seriously...dont be a knob and cite higher rate as the reason

firstly rates havent been higher for long..and they are still v low

secondly, to be a victim of bancruptcy via high rates would be a much more protracted scenario than 9 months (the period in which higher rates have kicked in over)

legal wheels turn slowly..so this cannot be the reason..bankruptcy wld take much longer than this

You let stats get in the way of reality

if figures are 28% up at 9000, this means 7000 people got into difficulty in the preceeding period

A difference in 2000 people pa in the total uk..hardly the signal of economic meltdown?

the deathrate doubled in my village last week compared to same period last year!!!

2 people died instead of one!

keep trying!

<{POST_SNAPBACK}>

cool a bull in the bear pit and a girl? as well

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chuck

9000 people out of 60 million....its actually nothing at all

Cant you do better than this to find something to get off on?

Seriously...dont be a knob and cite higher rate as the reason

firstly rates havent been higher for long..and they are still v low

secondly, to be a victim of bancruptcy via high rates would be a much more protracted scenario than 9 months (the period in which higher rates have kicked in over)

legal wheels turn slowly..so this cannot be the reason..bankruptcy wld take much longer than this

You let stats get in the way of reality

if figures are 28% up at 9000, this means 7000 people got into difficulty in the preceeding period

A difference in 2000 people pa in the total uk..hardly the signal of economic meltdown?

the deathrate doubled in my village last week compared to same period last year!!!

2 people died instead of one!

keep trying!

Don't feed the troll please

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sandra, if people are managing to make themselves bankrupt with near all-time low interest rates, high employment and low inflation, that tells me there are a hell of a lot of people out there walking a financial tighrope, just one economic shock away from disaster.

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We ought to check out a longer time span to get a better feel for the problem. I suspect that every period there will be a certain number who go bankrupt through being basically bad with money. Some people probably do it more than once in a lifetime? Anyway, if we subtract the hard core base (say 5000 I don't know) from the figures, then those made bankrupt due to unusually unbearable economic forces at work will be left i.e. 2000 and 4000 respectively. So it could have effectively doubled. Or maybe it's an exponential increase.

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Guest Happy Harry
walking a financial tighrope, just one economic shock away from disaster.

Exactly zzg. I cannot believe the number of people I know who are living in cloud cuckoo land. They tell me that the government will not let things crash and will take action to stop it. :(

Maybe our Gordon has a magic wand to pay off all the debt. :lol:

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"I cannot believe the number of people I know who are living in cloud cuckoo land. They tell me that the government will not let things crash and will take action to stop it."

This government couldn't find it's **** with both hands and a strong searchlight, never mind solve a full-blown financial crisis. Anyone relying on the government to bail them out of this mess needs to stop taking the stupid pills.

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Guest Charlie The Tramp
sandra b Posted Today, 12:23 AM

legal wheels turn slowly..so this cannot be the reason..bankruptcy wld take much longer than this

So their problems started when IRs were at 3.5% did they Oh dear. :(

You let stats get in the way of reality

So the stats from the courts are not based on reality. :lol:

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Exactly zzg. I cannot believe the number of people I know who are living in cloud cuckoo land. They tell me that the government will not let things crash and will take action to stop it.  :(

Maybe our Gordon has a magic wand to pay off all the debt. :lol:

Actually in a way Gordon thinks he does have a wand to pay off the debts - inflation which is hidden from view. RPI is now 3% (agains the old target of 2.5%) and yet the bank is under pressure not to raise rates any further bcs the b*ll*cks rate is below target.

Only thing is that this could yet back fire. If china allows its currency to appreciate SE asia will follow and current measure will rocket as cr*ppy dvd players etc go up overnight.

Just my opinino.

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You can fool some of the people all of the time, and all of the people some of the time, but not ALL of the people all of the time. If the govt *****y inflation measure tells you that inflation is 1%, and you KNOW your everyday living cost have increased 5%, who are you gonna believe? I know who I'd pick, every time. This means the market will demand a greater return on capital, to beat the higher inflation, and rates will have to rise anyway. You can't buck the market.

"If china allows its currency to appreciate SE asia will follow and current measure will rocket as cr*ppy dvd players etc go up overnight."

There are many rumblings coming from the Chinese govt indicating that this is imminent.

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  • 439 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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