The Rise of Debt in ā 08

Last year was a record high for people suffering from debt, as a result from this there has been an unprecedented rise in people claiming insolvencies. January is typically the month that most of us feel the pinch with Christmas just gone a lot of credit cards will have been used and abused for extra food and gifts as well as other expenses such as mortgages on the rise. It is estimated that the number of property repossessions are set to rise by a staggering 50% to 45, 000 in 2008, a worrying statistic indeed. So what does this mean? A lot of people get into such bad debt problems that they are faced with filing bankruptcy or Insolvency as a last resort to fix their woes. ...

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