Archive for the ‘repossession’ Category

House Repossession Fought With A Piece Of Plastic

Friday, December 18th, 2009

After reports last week that over 1 million UK homeowners have used a credit card to make mortgage payments, we weren’t the only ones to raise concerns. Co-owner of  the Homeowners Advice Centre, Chris Jenkins has made it clear that using plastic to stop repossession is a losing battle as unless you take action to change your situation, your credit will run out and repossession will still be a possibility.

The stats on this were released by housing charity Shelter which are urging people not to go down this road as in the long term, paying a mortgage by credit card can only leave you with even more debt and more financial problems.

Harder To Avoid Repossession As Poverty Rises In UK

Thursday, December 3rd, 2009

The rather worrying results of the Joseph Rowntree Report were released this week and show that poverty has been rising in the UK since 2004. According to their figures, it is now at the same level as it was in 2000.

Interestingly, the report also highlights that even before the recession, people were stuggling to find work and avoid repossession, which only got worse when the downturn hit. They put the actual turning point (from decreasing to rising poverty) around 2004-05 as this was when both unemployment and property repossessions began to increase. Let’s just hope we can find some of that good old fashioned British Spirit and combine it with Government support to get things looking rosy again.

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