Christmas bills herald sharp rise in debt and bankruptcies

Christmas bills herald sharp rise in debt and bankruptcies

www.guardian.co.uk

estimates that 28,000 people will be unable to cope with their debts during the first three months of 2008, and will either file for bankruptcy or take out an individual voluntary arrangement. It predicts a total of 120,000 people will go insolvent during this year, or 10,000 people a month. This would beat its predictions for 110,000 insolvencies for 2007. In 2006 the number of people going insolvent broke through the 100,000 barrier for the first time to reach 107,288.

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Voluntary insolvency is a good idea. At least you wipe the slate clean and it wouldn't be too long until you can start again.

consumers are paying out £93bn a year in interest on loans, credit cards, overdrafts and mortgages

That's a lot of interest.
All generated out of thin air. Clever really.

Give them what they gave you, nothing, go bankrupt today!! :-)

www.guardian.co.uk
(visit the link for the full news article)

i feel you. i am so surprised that no one ever comments about this? i guess they are to caught up in the brain washing that takes part in the masses to consume what only a few create. the true way people become vary wealthy is to create things for the masses to consume. this is the type of thing that can not ever be learned but only understood.