Bankruptcy related NEWS

• Property Repossessions  [April 2008]

There has been an increase in the number of property repossessions as a result of missed mortgage payments.  Individuals are struggling to pay their mortgage.  There are likely to be a number of reasons for this situation – the credit crunch, lenders taking fewer risks with borrower, a slow down in the housing market and/or high levels of unsecured debt.

If this is a situation you find yourself in, please do seek help and advice as soon as possible.  Please telephone us today on 0113 2688898.

• Local councils are forcing people into bankruptcy for failing to pay small sums of council tax [November 2007]

London debt advice partnership Capitalise says it is helping increasing numbers of people who are being made bankrupt by local authorities for council tax arrears.

It believes these cases reflect a surge in the number of people petitioned for bankruptcy by councils nationwide: in 1992/93, local authorities in England and Wales were the petitioners in less than 1 per cent of bankruptcy cases brought by creditors, but by 2005/06 that figure had leapt to 25 per cent.