Sky News senior business producer Peter Hoskins

Well, a week's gone by and I'm back writing another Blog about the gloomy state of the economy.

I'm starting to think I should wear a black cloak and carry a scythe. Grim Reaper-style.

Anyway, The Department of Justice tells us that 27,530 possession orders were issued by the courts in the first three month's of the year.

That's a rise of 17% on the same time in 2007 and the highest quarterly figure since the early 1990s.

It's important to bear in mind that these aren't people actually getting kicked out of their homes...yet.

But these are homeowners who are facing the very real threat of having to hand their keys back to mortgage lenders.

Of course, as a homeowner myself the last thing I want to do is help talk up trouble for the housing market.

I'm also fortunate enough, so far, not to have had any of my family or friends effected by the credit crunch.

But I do want to get to the bottom of how serious or not this problem really is for people around the country.

What's so frustrating about all this is that we have to rely on so-called experts and statistics to tell us what's going on in the real world.

As we all know 'experts' and stats are not always the most reliable way of finding out what's really going on.

Thanks to Dennis in Northumberland, Michael from Cornwall and Khalid for giving us a view about insolvencies from your different parts of the country.

So, are you now seeing repossessions going up where you live?

Comments

[Khalid 9 May 2008 15:35:57]

Sir
Thank you very much for your most valuable accreditation, one that I value more than any amount of money on this planet.
Insofar as matters arising under the realms of repo sessions, indeed the facts and figures you bring to the table scare the [Living Daylights]out of many a justice provider, however, on the bright side of life, these 27,530 or so orders are just that, orders by district judges, which are not normally legally binding until such a time as the occupier has exhausted all means thus far as appeal.
I recall having to endure interest rates three fold than what we are served with today, and was duly hauled infront of a judge, who relied very much upon solicitors submissions from defence purely and simply because like many a practice, judges have friends and dont allow their independant stance get in the way, whether or not justice is acclaimed to be served.
The first round of order is in many a case a breathing space provided to the borrower to further convince the judge that he/she will honour the commitment they give before him or in the event of failure provide sustained arguments as to why the order shall not be made final, a practice that more often than not takes the process some three months in time.
Naturally, individual cases are dealt with on merit, so it would not be safe to conclude all such judgements fall within this category, however, my advice to any person falling victim of bad advice/representation is
(1) Before 21 days after the order/judgment file an appeal with the High Court/County Court on the grounds that you have attempted to reach an amicable agreement with your lender, however, remains obsessed with repossession and that in the interest of family life, health and well being of chilfren, I remain committed to bring all arrears upto date within a period of 12 months.
(2) The unreasonable behaviour of the lender, particulalry at times of global economic crisis, notwithstanding interest rate cuts not being passed on, have strained the household budget and as such remains a matter beyond my personal control, save for matters within, the lenders stance does not serve the basis of justice thus far as Housing and social welfare.

Naturally, the appellant should provide the courts with documentary evidence ie account statements etc so as to ensure citizens of this most United of Kingdom are not enforced to rough sleeping whilst guests have all amenities thrown at them from our taxable benefits.

To, sum it up, the Lord Chancellor must direct all judges to prosptone repo sssesions for 12 months, save for matters within, fiscal prudence remains to blame. [Aha]!

[Michael Cornwall 9 May 2008 14:18:38]

Thanks for reading what we write.I can tell you more of what it is like on the street.
My accountant says most of his retailers will finish this year unless they are doing essentials, He is owed an enormous ammount of money by his clients whom he helps,and feels if he pushes for payment he will loose his customers. Also astatistic that I would like to know maybe you could find out is 'The ammount of money owed to the NI and vatman. I think and my accountant tells me that small businesses are stalling payments,Rents are also being stalled. My local newspaer says it is very difficult to get new advertisers and hard to keep them going. I am being offered front page for £100.
Also in my shops I am at the moment up on last year but I am selling far more inexpensive items and they are bargains. The Adverts from local stores are different type of sale after another.The multiples are now on 50% off plus another 20% this weekend.The multiples are canny and have wise men so they do buy cheap sell high and then slash,but the days of fooling people is all but over. One of my shops is next to a butcher Ive just bought a big bag of 7 sirloin sakes very big thick and fresh £12 cash.I feel happy about that but then I was buying