Friday, August 31, 2007

UK bad debt, repossessions

£9bn consumer debts written off by banks

indebted families are failing to manage their debt burden effectively Repossessions are rising rapidly Higher borrowing costs are also starting to slow the housing market still scope for the MPC to lift rates at some point in the future "Mortgage approvals continue to defy gravity," said Alan Clarke of BNP Paribas. "A correction is long overdue."

Posted by ds_t @ 06:25 PM (62 views)
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