Timing Why Now

Household Dept has been building up over the last 10 years it has now reached a level where consumers have a debt of approximately £1.4 trillion collectively, and people are being repossessed every day. 

What are the authorities doing?

The Bank of England & the Chancellor Alistair Darling, believe and base their principles on people spending money (i.e. expenditure) someone else receiving money (i.e. income). With the consumers failing to do so, this has left a gap which needs to be filled in the private sector, because this will only produce more fear and have a negative effect on the economy, and there will be more redundancies and more people being repossessed.

What else do the policy holders have up their sleeve?

Possible length of the recession!
 

It is an impossible answer, even for the best economist, it is like asking, how long is a piece of string?

The economists are currently planning a variety of possible outcomes. The good thing is they all confirm that the recessions will end, because every recession has always ended, but unfortunately it has a lot of casualties to go with that i.e. people being repossessed

Repossessions are on the downturn consider sell and rent back!
 

It was announced that the number of repossessions were on the downturn but then it was also stated that the number of repossessions are also up to just over 24,000 so far this year. This is equivalent to 130-135 homes being repossessed a day. However this is still a 14% increase from last year!

Money Worries

2009 has been one of the toughest financial years we have ever seen. Many people have been left with money worries, bills and in some cases debts that are threatening their homes.

Facing repossession, mounting bills and job insecurity can make you want to hide under the duvet and never come out. However, this has rarely improved situations. There are several options that may be available to you. First of all take a real, honest look at your finances; what comes in each month, what goes out, can anything be lived without? (ie, sky tv, extra phone line)