Been a frustrating day as the website is quite involved but will prove to be far easier to manage and update with articles.

Had a call today from another police officer who told me he is over secured on his property by the tune of around £54,000. He has a mortgage near 200,000 and a secured loan of £54,000 and we reckon the value of the property is around the £200,000 mark, so he is in negative, before selling costs of £55,000 and cannot afford to pay the mortgage and secured loan.

The same old secured loan company keeps popping up, total reckless and irresponsible lending. I expect there to be something in the media on this firm within the next few months as more clients are either handing the leys in on their homes or being repossessed and going bankrupt. Their debt book must look pretty horrendous!

Re bankruptcy figures that were released by the Insolvency Service on 1st May, the lull before the storm, expect a massive near for 2009 of 50% on 2008, this is combined bankruptcy and Individual Voluntary Arrangements, often referred to as IVAs, currently 106,000 combined for last year. My prediction is for 150,000 combined for 2009. Just put up an article under ‘Bankrupt Britain here we come’

Next key date is Thursday, interest rate decision, last MPC minutes showed it was unanimous to keep the rate at 0.5 per cent, so don’t expect a change. This is followed by unemployment figures out on 13th.