Jump to content
House Price Crash Forum
Sign in to follow this  
Realistbear

B B C: Government Expects Bankruptcy To Double

Recommended Posts

http://news.bbc.co.uk/1/hi/business/4797379.stm

Bankruptcy rate forecast to rise

Last Updated: Wednesday, 16 August 2006, 12:48 GMT 13:48 UK

The number of people going bankrupt is expected to rise sharply in the next three years, according to a government report on personal debt.
The Department of Trade and Industry (DTI) says the
number of bankruptcies may nearly double
, to reach 28,000 a quarter by March 2009.
And it warns that the
problem could get much worse if there was a recession
.

Now, let's see, a recession likeley? With unemployment rates still headed up, twin deficits, affordability at record lows, repossessions up, the US slowing down dramtically with an HPC spreading, sterling overvalued by 20%, oil prices on another planet, gas & electricuty going through the roof. I would say the chances of recession are good.

Share this post


Link to post
Share on other sites
Guest Alright Jack

Let me just recap.

We are already at RECORD insolvency levels. The DTI said that it expects the current rate to DOUBLE by 2009. And this is the best case scenario, i.e provided we don't have a recession. A recession is probably already here given the extent to which the government is fiddling with the numbers.

This country is in a VERY BAD way. God help us.

Share this post


Link to post
Share on other sites

Let me just recap.

We are already at RECORD insolvency levels. The DTI said that it expects the current rate to DOUBLE by 2009. And this is the best case scenario, i.e provided we don't have a recession. A recession is probably already here given the extent to which the government is fiddling with the numbers.

This country is in a VERY BAD way. God help us.

It is not a recession though is it??

the banks are making up ficticious money, lending it huge amounts. Then the individual goes bankrupt, the bank writes the money off and starts all over again...

I cant beat them, so i might as well join them!

Share this post


Link to post
Share on other sites

In the space of 2 weeks I've gone from being over the moon at the interest rate hike and eager for house prices to start falling - to being scared $hitless about the dire situation the people of this country are going to face over the coming year or 2, maybe more.

How can the government allow our country to get into such a state?

Surely if Brown has been basically lying about the rate of inflation, can we not get a noose around his fat neck for treason?

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 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%



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.