Just to demonstrate how enforcement of debts is a great indicator as to the mood of the nation's credit managers (and their commitment to making sure they get paid, I pulled some stats from the Council of Mortgage Lenders website today.
As disposable income is harder to get your hands on and court judgments become more difficult to get paid quickly, smart claimants get their lawyers on to enforce their judgments by charging order, like a mortgage securing a debt.
Take a look at how the orders granted statistic has grown over the last seven years and answers on a postcard what the 2008 figure might be !
Year Applications Made Orders Granted
2000 15,593 9,207
2001 21,502 15,280
2002 30,358 21,171
2003 34,648 24,796
2004 45,191 32,953
2005 65,305 48,812
2006 92,511 66,473
2007 131,644 97,017
Make sure you get those judgments secured for long term payment (which incidentally makes you a secured creditor if the debtor becomes insolvent).
Talk to BACK inContact today about getting your old judgments reviewed, it may just pay off.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment