/24-7PressRelease/ - LONDON, UK, August 18, 2006 - According to the latest data available, one person every five minutes knocks on the insolvency door in England and Wales.
The numbers released by the government recently showed that insolvency rate has surged very drastically. This trend is likely to continue as the borrowing costs continue to rise.
The increase in the interest rates announced by the Bank of England (the interest rates rose to 4.75 percent) recently will further worsen the situation of debt-ridden people. According to financial experts the stress on these people will increase as they are already facing higher fuel and heating costs. High interest on credit card bills and mortgages will mean that they will have no option left other than to declare themselves insolvent.
Many on the verge of bankruptcy are taking debt consolidation loans so that they can manage their single debt easily. A debt consolidation loan gives them lower interest rates and longer repayment term and takes care of their debt worries.
For additional information on the news, that is the subject of this release (or for a sample, copy or demo), contact Webmaster or visit http://www.easy-debt-consolidation-loans.co.uk
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