The government needs to do more to help thousands of people at risk of losing their home because of debt problems. That’s the view of charity Shelter and Council of Mortgage Lenders (CML). The two organisations have written to the government calling for more support for borrowers having money troubles. For people with unsecured debts over £15000 and Individual Voluntary Arrangement (IVA) is a good alternative to bankruptcy. You can pay a more manageable monthly amount over a 5 year period before going debt free and it could protect the equity in your home. Some experts fear any rise in interest rates could bring a rise in home repossessions.
Calls for help over repossessions
May 27, 2010 By
