If you have severe debt problems you might be worried that your property or other valuable assests could be repossessed. Well the CCCS (Consumer Credit Counselling Service) can now help.
They have set up a new service that deals specifically with repossessions. They can tell you the rights you have and what you should do when you're threatened with having things repossessed.
Many people have fallen victim to repossession in the last few years, as mortgage debt has taken a stranglehold. Rate increases and higher monthly repayments have left many consumers unable to keep up, leaving them open to drastic action from their creditors.
The group have launched this service in unison with the Council of Mortgage Lenders and hope that it will be of significant benefit to those who fail to keep up with repayments.
The number of bankruptcies and IVAs being applied for is expected to grow once again in 2008, with many unable to manage multiple outgoings on a regular basis.