Is the U.K. consumer resolve too good to be true?

Colomer-Gaffney, Nora
February 2007
Asset Securitization Report;2/5/2007, Vol. 7 Issue 5, p16
The article discusses the impact of the January rate increase to the consumers and economy of Great Britain. The effect of the event is expected to be detrimental while bankruptcies may continue to climb rapidly. According to a research of debt consultancy firm Thomas Charles, 19 percent of adults with debt of $ 19,676 or more reporting some likelihood of becoming bankrupt or taking out an individual voluntary arrangement. However, good news such as decease in unemployment is forecasted.


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