Huge rise in bankruptcies

Isn't that just going to cost them more overall? Would it not be a much better idea to ensure that future credit checks are far more detailed for all forms of borrowing? What would be the best way to educate people so that they shy away from spending more than they can repay?

Why would anyone want to do that? What else is making money in this country except utilties, oil and credit?

And unemployment up 72,000. Why do we need all those extra people again?

Oh yes - Yes Car Credit has gone pop. ROFL.

Unemployment has risen for 10 consecutive months despite the Governments efforts to fiddle the figures through 4million plus on incapacity benefit and several million more on job schemes, part-time work, temp jobs etc.................

UK unemployment total increases

The number of people out of work in the UK has risen, the latest set of official figures has shown. The Office for National Statistics (ONS) said that the number of people out of work rose by 72,000 to 1.49 million in the three months to October.

That left the unemployment rate at 4.9%, up from 4.7% the month before.

The narrower measure of people out of work and claiming unemployment benefit rose 10,500 to 902,000 in November, the tenth month in a row that it has risen. .........

But we all know the economy is doing well because Gordon says so ;-)

Looks like a credit crunch has finally started.

If past cycles are anything to go by there'll be a boom in books/videos advising on saving cash, avoiding debt and probably a move towards social admiration of simpler and less consumerist lifestyles.

FoFP

Street drugs?

FoFP

the sky is falling, the sky is falling....

greater manchester has a population of ~2.5 million....

284 repossessions....out of how many houses....? 185 bankruptcies...out of how many people/companies....? are they individual or company bankruptcies....?

how many repossession orders resulted in eviction? how many of those are out on the streets sleeping on a park bench? how many bankrupts are now trading under a new name? what is the personal effect on an individual who has declared themselves bankrupt....? what about those owed money by said bankrupt?

only liars and innumerates quote percentage increases on small numbers without quoting background populations.... and without reporting the original figures...

only fools do not know the real world outcomes of actions they 'report' as if those actions are melodramas....

so, a 'huge' rise is:-

183 repossessions last year...244 this year in a population of 2.5 million people....is an honest way of reporting the fact 70 bankruptcies last year and 185 this year among 2.5 million people... is an honest way of reporting the facts....

as your figures are unutterable slop it is difficult to know how many people are involved

1 repossession per 10246 of population....(what is the household size?) and 1 bankruptcy per 13513 of population....(how many effected in the avg bankruptcy?)

but i don't blame you...after all, you are thik, you are a socialist and you sup up the fossil media.... with all that going against you it is a miracle that you have learned to copy and paste...

All thanks to 115 bankruptcies in Manchester.

See Enterprise Act; abelard's figures.

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The usual piss and wind from Abelard the forum clown, windbag, and resident psycho-geriatric who wouldn't recognise a rapidly rising trend if it bit him on his atrophied bollocks. This is only the start, f****it, the only way is up for bankruptcies, repos, and job losses leading to the inevitable credit crunch. Try to get that through your addled brain if you're capable.

..........and don't say I didn't tell you.

BTW. You sound like you're still smarting from all that arse-kicking you got recently.

Try not to take it so personally you silly old fool you'll just make yourself a laughing stock. LOL.

If one was being really honest, one might say

1,024,856 people in Greater Manchester are under 19 or over 65 and so probably don't have mortgages, leaving 1,457452 people (2001).

680,281 people are owner occupiers (seems quite low?). So honestly it's 244 out of 680,281 (unless home ownership has increased dramatically in the past few years)

Still, it's not many - the percentage increase is the worry, not the number, as it appears to be a national thing. A sign of things to come? House prices in Manchester have increased 45% in three years, higher than that in Liverpool (65%). Rents are even more unaffordable. Surely you don't think this is healthy or sustainable?

Yes, another 820 jobs down the toilet ! You know things are going to seriously implode when the likes of that lot can't make money :) I posted an article about their parent company's interest rates a few weeks ago actually;

In message , Crowley writes

Bankruptcies are up because it is now much easier to do it, so more people are doing it.

In 17 years as an estate agent, I dealt with hundreds of repossessions, all over Manchester, and very few of them involved an owner occupier losing their home. Most were landlords who collected the rent, didnt pay the mortgage, and did a runner - probably using a different name and address for further borrowing.

Thus, the figures on their own tell us nothing - someone needs to put them into context, (unless they have, and the results dont fit the argument).

Oh I know all about them - I approached them once when we were desperate for a new vehicle. They were very keen on us because we needed a people-carrier and they never do much under 8 grand. When I declined to take up their offer of an interview (just drive 50 miles to Cov to see them lol), they got really aggressive with me. They must have rung me at least 10 times after that trying to persuade me that I really did want one of their motors. No wonder some people get suckered in.

LOL ! And they seemed so nice in their TV ads .... all smiles and freshly laundered green and yellow overalls ... ;)

who can tell.... there is nothing said about local conditions...eg a rather keen building society manager of a citizen's advice operative suggesting that bankrupting is a good way out of a debt mess....

national figures would be more useful.....

but what is seriously irritating is this hyping of very small figures by selective and poor use of stats.... at what level would this be a serious issue...and much more to the point.. why?!?! would it be a serious issue....

i repeat as often i do...there are very few people starving or on the streets....the uk remains immensely wealthy....a few bankruptcies are a nuisance to (some of) the individuals involved but they are generally not life threatening... in the usa (where people are vastly better informed economically) there is a saying...'if you haven't been bankrupt 3 times you're not really an entrepreneur'

which of course means huge paper wealth gains to set against this dubious fossil press emoting....

if you weren't more useful here and in the jools and educations industries i would suggest you going and taking the job over yourself!

regards...

Richard. Even a positive, "glass half full" chap like yourself must accept that the credit-fuelled spending frenzy is coming to an end taking the boom with it. It now has to be paid for and the increasing signs are that we are heading into choppy waters.

Not a very Xmassy message I know ;-)

Exactly - but it will have to change one way or another.

USD 3.30 per hour, and a greater change of being killed than if you're on death row, according to:

rgds, Alan