Filipino Eduardo Ireneo, who works in a London nursing home, scored 1,750 pounds ($ 2850) debt. In April 2007, when banks began to suffer from the crisis and Ireneo denied credit, he met a fellow countryman Greg de Gazmanov. To send money home to family, Ireneo lent him 1500 pounds. Six months later he was to return to 1950 pounds, ie, interest rates were 60% per annum.

making a few monthly payments of 325 pounds, Ireneo in October 2007 asked to reduce the size of the payment. Gazman told him to over the next 13 months by paying 100 pounds. In June 2008, Ireneo Gazmanov said he was ready to pay the balance. But he said that Ireneo should still 1950 pounds, as all previous payments were only interest on the debt. This Ireneo told the court. In July 2009 Gazman which issued 120 000 pounds of 67 borrowers, was sentenced to a year and four months in prison for illegal lending and money laundering.

Personal bankruptcies hit record

Brits are paying for the carefree years among the living in a loan. According to the Organization for Economic Cooperation and Development, the ratio of debt to income the average family was at the end of 2008 180% (even in the United States - 140%). Because of this, the number of personal bankruptcies in England and Wales has increased in II quarter at 30% against the II quarter of 2008 was 33 073. This is the maximum since 1960, when she started to gather statistics. Click to continue »