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T O P I C R E V I E W
BankruptcyNews
Posted - 29 August 2007 : 09:38:39 Insolvencies down but warnings remain
KPMG has said that the number of personal insolvencies fell during the last quarter but has warned that longer-term trends paint a bleaker picture.
The number going into insolvency in the 12 months to June 30th actually rose by 28 per cent compared with figures from 12 months ago, the firm noted - but that doesn't mean that all is lost for such Britons, however bad the state of their unsecured loans.
A tricky financial position could be helped by the availability of bad credit second mortgage loans, for example, with even really bad credit now able to be worked around by some lenders.
"These figures are a clear indication that more people are struggling to manage their financial affairs," commented KPMG head of personal insolvency Steve Treharne.
One thing everyone is agreed on is that it's best to seek bad credit help if that's an issue that could cause a problem in the future.
