Accountants KPMG predict that at least 130,000 people will go into bankruptcy or personal insolvency during 2008. They predict that the figures for 2009 will be much worse.
KPMG’s director of personal insolvency said that debt had reached ‘horrendous’ levels. The average debt for people going into personal insolvancy is £50,000 (excluding mortgages).
The ‘credit crunch’ has stopped people from being able to transer debts to different credit cards and from being able to take out loans.
If you cannot manage with debt and you find yourself clearing one debt by taking on another, then please do something about it now!!
Visit www.takefinancialcontrol.com for some advice
May 3, 2008 at 3:48 pm
I recently came accross your blog and have been reading along. I thought I would leave my first comment. I dont know what to say except that I have enjoyed reading. Nice blog.
Tim Ramsey