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dtr74x

Bbc Article Record Numbers Bankrupt

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Just seen the BBC News24 piece on this

At one point they asked WHAT people were doing to go bankrupt - mortgages, holidays, clothes and living day-to-day

Not once did they blame/question rampany inflation as the root cause of this borrowing - borrowing to simply close the gap between vitually static wages and rising price inflation

The longer the public are kept in the dark about inflation and it's effects on their everyday lives the longer IR will remain on hold...

Edited by dnd

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Just seen the BBC News24 piece on this

At one point they asked WHAT people were doing to go bankrupt - mortgages, holidays, clothes and living day-to-day

Not once did they blame/question rampany inflation as the root cause of this borrowing - borrowing to simply close the gap between vitually static wages and rising price inflation

The longer the public are kept in the dark about inflation and it's effects on their everyday lives the longer IR will remain on hold...

yeah this was big on BBC breakfast aswell (Martyn Lewis was on there giving it some).

Interesting that they chose to unleash this story the day after the IR rise. They must have had it waiting...

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Interesting that they chose to unleash this story the day after the IR rise. They must have had it waiting...

IMO the BBC is simply a press release centre for Government anyway

It looks like GB/BOE are attempting to get people to reduce their spending by blitzing with multiple scare stories at the same time

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IMO the BBC is simply a press release centre for Government anyway

post-Hutton Report, I think this is effectively the case :(

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What amazed me about the BBC was how their 'expert commentator' said that insolvency was on the increase and that 100,000 new bankruptcies had been filed in the past 3 months, however these figures are insignificant compared to the UK as a whole and don't indicate too much of a problem.

Looks like a problem to me, especially for the ones left owed money.

Has there been a massive shift in attitude to insolvency? I always looked at it as the absolute last resort, and as a reason to hold your head in shame. (Refering to the greedy ill-informed borrowers as opposed to those placed there through e.g. change in health).

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Just out on AFX...

Insolvencies in England, Wales hit record high in second quarter UPDATE

LONDON (AFX) - Individual insolvencies in England and Wales soared to a

record high in the second quarter of 2006, eclipsing the previous all-time high

in the first three months of the year, official figures showed.

The figures, which reveal the mounting debt burden carried by Britons, are

likely to climb further in the third quarter after the Bank of England hiked

interest rates for the first time in two years yesterday.

Records at the Insolvency Service go back as far as 1960.

During the second quarter, there were some 26,021 individual insolvencies,

up 10 pct from the first three months of the year and a massive 66.3 pct higher

compared with the same period a year ago.

This figure was made up of 14,915 bankruptcies and 11,105 individual

voluntary arrangements. The former was a modest 3.3 pct drop from the previous

quarter but the latter represented a 34.9 pct increase.

The number of individual voluntary arrangements -- which enable debtors to

come to an agreement with their creditors -- were also at their highest ever,

with records going back to 1986.

A record high ... surpassing the previous record which was only set in the previous quarter!!!

:o:o:o:o:o:o:o:o

Insolvencies booming!

Invest in credit collection agencies while you still can!

Maybe its a bubble lol.

FYI: DETS, DEBT, DFD, CLEA, ACG ;)

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  • 302 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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