I know what you are thinking. Statistics aren’t exciting! Well, bear with me…
We are officially out of recession; the UK economy grew by 1.0% between July and September, compared with the previous three months, official figures say.
And according to credit action, unsecured debt has decreased from £164 billion in September 2011 to £158 billion at the end of September 2012. All “exciting” I am sure you would agree?
Now the not-so-exciting statistics…
Again, according to credit action:
8,465 new debt problems were dealt with by the CAB each working day over the year to June.
Every 15 min 30 sec a property is repossessed.
Every 4 min 49 sec someone will be declared insolvent or bankrupt.
And on the pages of Financial Introducer just this week, it was reported that 1.5m mortgage
applications have been rejected in just 5 years .
Now these statistics don’t need a great deal of analysing to tell you that whilst things are getting better, the majority of you reading this article will have already, and will continue to, encounter clients in need of debt advice.
……Did I mention our award winning Debt Advisor Rita?
