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Consumers `increasingly experiencing debt problems` Over-50s `better at managing credit card debt` New banking rules `may restrict access to loans` UK `must reduce consumer debt` 700k `on Debt Management Plans` Recession `could lead to financial problems for retirees` Charity sees increase in debt, mortgage and loan arrear enquiries Retirees` finances `may be damaged by rate cut` Consumers `aiming to reduce spending` People `increasingly turning to illegal loans` Children raised in credit crunch `may be better able to manage money` Many parents `pushed into debt by adult children` Young people `failing to protect themselves for debt repayments` Consumers in East Midlands `relying less on debt to fund lives` Plans set out to help people in debt PPI ban `could leave consumers without loan cover` Govt `must step in to stop debt addiction` Cash-strapped Brits `see fraud as more acceptable` People `should not rely on mortgage rescue plan` Consumers `to take out £3bn in debt consolidation loans by Easter`

Debt problems `disguised` by hidden forced selling

25/07/2007

Many people who are facing repossession are choosing to sell their properties and re-enter the rental market, it has been claimed.

Repossession litigation specialist Moore Blatch has said that these so-called hidden forced sales skew the repossession statistics and do not reflect the real debt problems faced by households.

Paul Walshe, head of lender services and Moore Blatch, commented: "Many people who are struggling to pay their mortgage are just selling their property.

"This is fine whilst the market remains strong, but the recent rises in interest rates are likely to dampen demand and may well result in some of these `hidden repossessions` becoming real repossessions."

Figures from the Department for Constitutional Affairs reveal that the number of court possession orders stood at 89,857, yet fewer than 20 per cent resulted in repossession.

House prices in the UK have increased by 219 per cent since 1995-96, according to the Halifax House Price Index.

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