House repossessions hit 16 year high

Back in February I wrote about the increase in bankruptcy rates in England and Wales during 2007.  A report in the Independent today highlights the human impact of the credit "crunch". The report states that the number of home repossessions in England and Wales leapt by 17 per cent during the first three months of 2008.  There were 38,688 repossessions during the first quarter – more than 3,000 higher than the same period in 2007. Follow the link to read more.