21 April 2008
Many home repossessions could be witnessed this year as people struggle to pay back their debts, sometimes in the form of personal loans, it has been claimed.
Shelter, the specialist charity, stated that about 60,000 will be in this position in 2008, with 10,000 alone being hurt by non-payment of secondary loans.
Head of the organisation Adam Sampson said that more help could be forthcoming for people in possible trouble.
"The government bailed out Northern Rock - now they and mortgage lenders must stop passing the buck between each other and take responsibility to help hard-pressed families in genuine need," he commented.
Huge "human misery" will be seen in the form of repossessions, Mr Sampson added, something that could be a big blow to families.
TDX Group recently stated that the options open to those in debt are set to dwindle this year thanks in part to the credit crunch.
© 2008 Adfero Ltd
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