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£1.4 billion bad debt written off

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Published Date: 29 December 2006
A RECORD £1.4 billion of bad debt was written off by creditors in 2006 as a result of individual voluntary arrangements (IVAs), according to figures released today.
Professional services firm KPMG estimated that this year saw around 110,000 people become insolvent - the first year the total has broken the 100,000 barrier.

Of those, around 45,000 people opted for an IVA as opposed to bankruptcy.



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  • Last Updated: 29 December 2006 10:03 AM
  • Source: Edinburgh Evening News
  • Location: Edinburgh
  • Related Topics: Consumer debt
 
1

bill, england,

29/12/2006 13:55:59

I hope these people are not allowed to take out loans ever again; we've bailed them out once, that's more than enough. Crooks.

2

Messalina,

29/12/2006 17:36:09

You think they could write mine off?? Please???


 

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