Since August 2007 the average yearly income of someone on an informal debt management plan has risen by nearly £3,000 from £20,540 to £23,432 while debt levels have decreased by more than £300 from £26,662 to £26,344. Six month review Average level of debt: £26,344 Average age of debtor: 44 Yearly gross income: £23,432 Male: [...]
February, 2008
Chiltern Debt Monitor November 07
The November Chiltern Debt Monitor reveals that over the last month the percentage of wages that debtors can afford to offer creditors has fallen by one per cent to 17 per cent, but the amount they are contractually obliged to pay has remained the same at 67 per cent. Chiltern Debt Monitor November Average level [...]
Home repossessions up 21 per cent in 2007
2007 saw house repossessions at their highest level since 1999 the Council of Mortgage Lenders (CML) has revealed, with over 27,000 homes reclaimed. The number of properties repossessed was up by 21 per cent in 2007 from the previous year, and almost three times the figure in 2004 of 8,200. At the same time, the [...]