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

Personal Bankruptcy Now 1 Every 60 Seconds

Recommended Posts

Anyone else feel like this week is turning out to be a bit bearish?


Wednesday August 23, 09:36 AM

Can going bust solve the debt crisis?

By Naomi Caine

More and more people are getting caught up in our ballooning debt crisis. One person goes bust every minute of the working day and home repossession applications show the biggest increase since the housing crash of the early 1990s.

The recent rise in interest rates can hardly have helped, especially as it followed record fuel bills and council tax payments.

More than 26,000 people became insolvent between April and June, according to the Insolvency Service. The figure brings the total this year to nearly 50,000. The number of insolvencies is expected to top 100,000 by January.

The Council of Mortgage Lenders reports that repossessions in the first half of the year were up by 76% to 8,140 - and further increases are expected.

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.

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.

Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 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%

  • 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.