Released on = July 10, 2006, 2:49 am

Press Release Author = Shakespeare Finance Limited

Industry = Financial

Press Release Summary = A substantial rise in the amount of secured loans disbursing
by homeowners are said to be the reason of rise in repossession in Scotland.

Press Release Body = A substantial rise in the amount of secured loans disbursing by
homeowners are said to be the reason of rise in repossession in Scotland. According
to the governments figure obtained by the SNP, the amount of repossession orders
handed over has risen by more than third in a year.

London ( adverse-credit-debt-consolidation ) July 10 2006: A rise in the sum of
secured loans taken out by home owners is responsible for a rise in repossession in
Scotland. The amount of repossession orders have risen by over one third in one
year, according to the government figures obtained by the SNP.Last year, 6,285
repossession verdict was issued. That was 34% increase on the 2004 figure and 50%
higher than the number observed in 1990. Kenny Mac skill, the party's justice
spokesman, alleged the increase on lending to helpless groups. Bryan Jackson, a
partner at insolvency firm, PKF, told the Scotsman that the aftermath of 'live now,
grab today' tendency of the people aged under 30 is already adding fuels to
insolvency.

He further reiterated that the number of repossession had increased; the number of
the rise was not expected though. There is consumer debt problem and it was not just
because of credit cards but home owner and other loans. The figures were collected
just a day after the charity Citizen Advice released figures saying that those
borrowers who contacted them with problems have an average debt of £ 13,153.

However, repossession is usual process in secured loans. It can not deter borrowers
to borrow money. They have to be more cautious about repayments.

For additional information on the news that is the subject of this release (or for a
sample copy or demo), contact Webmaster: www.adverse-credit-debt-consolidation.co.uk


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