Credit Crunch and Insolvency

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andrewgoodman121

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Post by andrewgoodman121 » Fri May 02, 2008 12:50 pm
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Hi Everyone,

At the moment there has been a lot of mention about the global credit crisis and the extortionate cost of living as it stands today.
We have had the Northern Rock Fiasco and a Prime Minister who wants to SQUEEZE!!! every last penny out of us while some people are trying to pay their Mortgages , Rent and other costs which have gone up 2 fold such as fuel, council tax, food.
You name it it has all increased.

My Question is that we keep getting statistics about Repossesions and the State of the Pound against the Euro.
The statistics WE DO NOT SEE!!! is the amount of people in the UK
who are now having to go through Bankruptcy or an IVA through Personal Debt.
Everyday all i see is more and more people who are sick to death of struggling on paying their way and getting nowhere and having to opt for Bankruptcy or an IVA.
Everyday the CAB and Debt Companies are inundated with loads of people who are having to go down this route for a DMP,BANKRUPTCY,IVA and
we are told by the government that everthing is on course and sound.

What are the statistics for Personal Insovencies as i reckon it is well on the increase and must be Millions.
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kallis3

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Post by kallis3 » Fri May 02, 2008 1:08 pm
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It will be interesting to see when the next figures come out.

I see that some finance companies are still advertising on TV and encouraging people who have CCJ's, poor credit history etc to take out loans. It is about time tighter control was put on these companies. I know that we can say no, but a lot of people are easily persuaded (I was one of them) to take out loans to pay off other loans. It never happens, and you just end up deeper in debt.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley.
http://kallis3.blogs.iva.co.uk
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CoverItAll

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Post by CoverItAll » Fri May 02, 2008 1:39 pm
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Hi Andrew

Th information you are looking for can be found at

http://www.insolvency.gov.uk/otherinfor ... csmenu.htm
John Tegg
john.tegg@dms4asu.co.uk
http://www.paymentcover.co.uk
STANDARD TERMS for Forum Members for Home Insurance, Self Employed Tradesman's Public Liability, and Short Term Income Protection.
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sblack

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Post by sblack » Fri May 02, 2008 2:37 pm
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New Insolvency figures have been released today.

http://news.bbc.co.uk/1/hi/business/7378183.stm
"Life is too short to wake up in the morning with regrets. So love the people who treat you right, forget about the ones who don’t and believe that everything happens for a reason. If you get a chance, take it. If it changes your life, let it. Nobody said that it’d be easy, they just promised it would be worth it."
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