FinancialAdvice.co.uk Logo

Qualified advisers answering your
Financial Questions
call 0800 092 1245

When Will The Debt Mountain Start To Fall

While economic activity in the UK continues to fall there are real concerns that many of the UK population may be left with substantial debt for many years to come. Prior to the major turnaround in world economies personal debt in the UK was running at record levels, but more and more people were looking to their property investments to bail them out in times of trouble.

However, the fall in the housing market together with limited finance in the commercial loans market has seen many people unable to refinance their debts with more and more looking towards professional help. While many still have assets on paper which are worth more than their debts, it can be difficult to crystallise these investments at short notice.

Even though a recent report suggested that bankruptcies were falling there are real concerns that as soon as we see any signs of life in the property market, many of the finance companies will call in their debts. The expected increase in future bankruptcies will always lag the performance of the economy because it can take some time to filter through.

It seems that many in the UK who dreamed of using their property ‘profits’ as a nest egg are about to see that dream shattered.

Share this..

Related stories

Financial Guides

Financial Calculators

Our useful calculators can help you get your finances in order:



Latest News

Blogs

Helpful new tax year facts that could affect you and your money


Blog | Seven helpful new 2016/2017 tax year facts that could affect you and your money. Our recent online blog shares a brief outline on how to stay up to date.


Read more

Useful Links

Popular Searches

Please Enter More Details

 
Enter More Details
Continue