The debt charity Credit Action has announced a series of facts and figures, breaking down bad credit, mortgage arrears, and repossession.
The statistics show that today, 2,430 County Court Judgements will be issued.
18,000 credit card applications will be rejected.
The average household debt, including secured loans, is £59,670.
Personal debt, meanwhile, increased by £1 million every 10 minutes [...]

Administrators of failed bank London Scottish have cut 46 jobs at the bank’s head office.
The bank, which specialised in bad credit products for customers, went into administration two weeks ago. It currently employs around 500 people in Greater Manchester.
The staff cutbacks will particularly affect the central recovery and bad credit mortgage departments of the bank.

[...]

High street lender Nationwide has reported an 18% fall in profits in the past six months.
The building society made a before-tax profit of £322 million, compared to a £394 million profit last year.
Mortgages in arrears at Nationwide have risen from 0.36% in April to 0.40%. Bad credit mortgage and self certification mortgages make up a [...]