News in Detail
UK repossessions to rise in 2008
Tuesday 13th November 2007 - 16:46
The Council of Mortgage Lenders has reported that the number of UK repossessions is likely to rise by 50% in 2008.
The effects of increased interest rates along with council tax and other household bills could push those already struggling with debt to their financial limit.
Although many people will be able to adjust their outgoings to compensate for this, the number of UK individuals who will have to take more formal steps such as an IVA to deal with their debts is likely to increase.
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