Wave of CCJs strike the North
Over the past three months, 120 people a day have appeared in court in Greater Manchester with County Court Judgements for failing to repay debts.
This represents a 34% rise in CCJs, demonstrating the amount of people with poor credit in the area, the Manchester Evening News reports.
Experts fear that this will lead for further difficulties when people are looking to secure mortgages, unless they can find decent bad credit mortgage deals.
December 9th, 2008 at 8:35 am
Hang on… if people have poor credit then they should find it harder to get mortgages. Otherwise lenders would just be giving money away.
December 10th, 2008 at 8:49 am
This presupposes the same model of lending that got us into this problem. Borrowing money is not a right, and neither is owning a house.