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Are you banking on a short-term recovery?

As many people across the UK continue to feel the wrath of the UK recession it seems a number of people are planning (or hoping for) for a short-term recovery. As a consequence, we could see a significant increase in the number of people suffering financial distress in the short to medium term unless the economy does in fact spring to life over the coming months.

It seems that a growing number of people in UK are still running fairly high debt levels and many are struggling to repay interest on their loans and credit cards even before considering capital repayments. The more people, and businesses, that appear to be banking on a short-term pickup in the UK economy the larger risk of a significant increase in IVAs, bankruptcies and trust deeds in Scotland. These will not only impact upon corporate profitability, with banks and credit card companies forced to take significant bad debt hits, but could again place pressure on liquidity in the financial marketplace.

There are some huge gambles being taken in UK by consumers and by businesses and we should see over the next few months whether any of these have paid off.

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