Written by John Kruse, one of the leading experts on Bailiff Law, this consumer friendly guide is essential reading for anyone who comes into contact with a bailiff.
The book is easy to understand and clearly explains the rights
a bailiff has, and also what they cannot do when collecting debts and repossessing goods etc.
In November last year I did a bit of my own research and guess who the majority of blame lay with in the Subprime mortgage sector in America ...... yes thats right G E
B B C News 13th February 08
Sub-prime drives UK repossessions
Sub-prime lenders are bringing more than half of UK repossession orders, despite accounting for just 6% of total mortgages, a BBC report has found.
The sub-prime market caters for people with poor credit histories and has been under pressure because of an increase in interest rates and borrowing costs.
Official figures showed last week that actual repossessions rose to an eight-year high of 27,000 in 2007.
Analysts have warned that conditions may deteriorate further this year.
The research on sub-prime repossession orders was carried out by BBC Radio Five Live's Wake up to Money programme, which looked at 1,200 cases going through 18 county courts in January 2008.
It found that more than 10% of the cases were brought by two sub-prime lenders owned by US investment bank Lehman Brothers.
However, it must be said that most court possession actions do not always lead to repossession because borrowers in trouble usually reach a settlement with their lender or sell their house to meet overdue payments. Bad credit
Sub-prime operators say that it is only natural that default rates will be higher amongst their customers, many of whom have bad credit histories.
But the degree to which sub-prime lenders dominated the sample is surprisingly large, experts said.
Southern Pacific mortgage Limited (SPML) and Preferred Mortgages - both Lehman Brothers offshoots - were named in 148 cases in the sample. Five out of six are resolved without having recourse to repossession
Lehman Brothers
A spokesperson for SPML and Preferred said a large proportion of its cases were resolved without the necessity for repossession.
"The figures are based on possession claims hearings and are therefore not representative of actual repossessions, which are a lot lower," he said.
"Of proceedings started, where solicitors become involved, five out of six are resolved without having recourse to repossession," he added. GE Money and GMAC-RFC, two of the biggest sub-prime lenders in the UK, were each listed in more than 100 cases found in the sample. "It should come as no surprise that those lenders dealing with borrowers with past credit problems are likely to have to deal with more cases of default amongst their borrowers," said a GMAC spokesman. "
G E I will swing for them yet.
sector
Five out of six are resolved without having recourse to repossession
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