Lenders secure consumer debt against property

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Lenders secure consumer debt against property

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04-26-2008, 01:34 AM

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Lenders secure consumer debt against property

Cash-strapped banks are increasingly acting to secure personal loans and credit card debt against property. According to the Ministry of Justice, court orders made in this respect rose to 131,644 in 2007, up 42% on 2006. Charging orders work in the same way as a second mortgage on a property, and can provide a guarantee to [...]

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