Oh dear! More bad news I'm afraid. In a report out today by Matt Falloon of Reuters (London), more than 30,000 people fell into bad debt in England and Wales in the first quater of 2007.
With interest rates likely to rise again next week, analysts are predicting further problems as more and more people find it impossible to meet their financial obligations. With the rate of insolvency now standing at around 330 people per day, this represents a rise of 25% over one year ago and the highest figure ever recorded.
Brits are apparently amongst the most indebted in the world with now over £1 trillion of debt (in all forms) currently owed. With an appetite like that, it is easy to see why personal insolvencies are at an all time high.
If you find yourself in this situation, it is a good idea to act as fast as you can and there are quite a few options for you to consider. For more information on the subject, hints, tips and money-saving ideas, visit FeelGoodLoans.co.uk
Good comebacks...
Man: "Is this seat empty?"
Woman: "Yes, and this one will be too if you sit down."
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