An estimated 1 million families will be taken to court over unpaid debts this year according to research from KPMG . Debts amassed through personal loans, car loans, utility bills, credit cards and store cards will leave over 2,700 people in the courts each day attempting to reach an agreement over their debts.
Debt levels in the UK currently stand at £1.4 trillion, which has left around 60,000 families at risk of having their homes repossessed as they struggle to meet repayments . With the credit crunch leaving banks more cautious about lending, home repossessions are expected to rise as home owners struggle to keep up on repayments .
1 Million Families to go to Court Over Loan Debts This Year
Tue, 08 Apr 2008
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