www.iva.co.uk

Not good:

UK is the most indebted G7 riches country. Forget what the MPs tell you....they lied
Savings are down to 1959 levels.
Disposable income after paying direct taxes down to 1980s level
Some one earning 24K is paying 8K in direct tazes Yes -Thanks to Labour....there is something wrong with this statistic....
People paying in to PP plan stops after a while affordabilty becomes an issue

'Till Payday loans' - loans with 1,334% Apr are on the increase as people cannot get credit cards

It can't be more damning that this!!! So Banks don't lend much these days....and bring the Housing market down...hahhha...would you lend if you were a Bank??

Mortgage lending is down to an all time low as well.

Scary times ahead I think![:(][:(]

I am glad that we didnt overstretch ourselves mortgage wise, Its only a 70k house we bought

My mortgage doubled overnight when I switched from endowment to repayment a few years ago, but I managed to knock 6 months off the total and was paying less than I had been to Halifax.

When we first got into really deep trouble, we went to see the bank (HSBC) who told us that they couldn't help us, but suggested we get a further advance on our mortgage so we could pay off our bank loan! They weren't bothered about anything else.

Foolishly we did this (although we didn't pay off HSBC!), saw our mortgage payments go up and effectively doubled the period we had to pay it off.

In hindsight we should have admitted our problems sooner and done something about it then. We might even have been debt free by now.

Wish I'd just got your mortgage plasticdaft!

I really am glad we didnt go daft on the housebuying front. We could have spent 40-50k more than we did and we'd really be in deep doo doo,at least with only 64k mortgage,which is in fact less than our unsecured debts,we know that interest rate rises dont affect us as much as others. Although our current capped deal ends july next year and I am already worried that we wont find someone to switch to if our Trust deed goes ahead!!!