The Facts
Personal bankruptcies have risen to a 40-year high.
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Irresponsible lending and carefree spending have
left tens of thousands with debts they cannot afford
to pay.
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Those under 30 make up the majority of bankrupts.
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The number of insolvencies in the first three months
of 2005 rose to 13,229, 28% up on the same period last
year.
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Consumer debt has risen through the £1trillion
barrier.
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With several interest rate rises since November
2003 and many people are struggling to cope.
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It is expected that within 3 years the annual rate
of bankrupts will hit 60,000.
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Recent changes in bankruptcy laws have made more
people willing to consider it.
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Three quarters of bankrupts are people declaring
themselves bankrupts rather then being forced in to
it.
Contact Us for further information
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Mrs DE of Cardiff had debts of £63,000 and
were paying £1,700 per month to
her creditors. We put her onto our Debt Management and
with the agreement of her creditors she now only pays £410 per
month
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Mr and Mrs H of Gloucester had
debts of £18,000
and were paying £486 per month to their creditors.
We put them onto our Debt Management and they
are now paying £130 per
month.
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Mrs CG of Swansea had debts of £22,000 and was
paying £570 per months to
her creditors. We put her onto our Debt Management
and she is now paying £220 per
month. She also had a mortgage of £47,000 costing £471
per month
and a £11,000 second charge
mortgage of which were costing her £178 per month.
Even though she had poor credit history and a CCJ we were
able to remortgage her, saving her £156 per
month.
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