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Cashing In On Debt

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Found this on the Fools PMT board.


"PERSONAL insolvencies are set to surge by up to 50% in Scotland as even more consumers stuggle to repay their debts due to a slowing housing market, rising energy bills and a hike in council tax payments."

There has been a huge increase in the growth of the debt industry from the collection services to debt management. The number of Sub-prime mortgage lenders has also increased including some of the high street providers. The figures for Q1 bankruptcies in England should be out soon which should make interesting reading.

This article confirms what i am seeing around me, I have friends in their 40's & 50's have MEW'ed 3 or 4 times to clear debt often shifting their repayment mortgage to an IO. Gas gussling car's are being replaced with more economical models, and the local Aldi is packed (although i have seen people transfere their shopping into M&S bags in the car Park) people are struggling the financial industry knows this and expects to profit from the fallout.

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  • 338 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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