Sunday, February 17, 2008

More than eight million Britons are in serious debt – a quarter of whom are struggling to make their repayments

Merchants of Misery: Debt collection is one of the UK's fastest-growing industries

Debt collection agencies and bailiffs are raking in unprecedented sums from Britain's growing mountain of personal finance misery, an Independent on Sunday investigation has found. Last year the agencies and bailiffs pursued no fewer than 20 million cases and the methods they used to squeeze money from people are so aggressive that experts ranging from the Citizens' Advice Bureau (CAB) to members of the House of Lords are now calling for legislation to curb these excesses. A growing army of thousands of "debt chasers" is making millions from the misery of Britons who have spent years spending above their means, in what campaigners have slammed as "legalised profiteering".

Posted by jack c @ 12:51 PM (517 views)
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