There are some scary facts and figures about debt in the UK. According to the BBC more homeowners are unable to stop house repossession due to the fact that:

• In 2006 there was a rise of 59% in the number of people going insolvent
• The UK personal debt now totals £1.4 trillion
• A 1% rise in interest rates equates to £60 increase in repayments on a £100,000 mortgage – there have been five rises in interest rates in 2007
• More homeowners have been unable to stop house repossession as there has been a 15% increase in debt calls to the Citizens Advice Bureau.

Last year more homeowners than ever before were vulnerable to mortgage arrears and unable to stop house repossession – 100,000 people went bust as they were unable to repay their debts. A recent news story in the New Scotsman says that Scotland is facing a Christmas ‘debt crisis’ this year as bankruptcies soar.

Bankruptcy has increased by 12% in just one year in Scotland which has raised fears of a general debt crisis in Scotland and throughout the UK. Christmas is a time of year that triggers a lot of unmanageable debt as parents feel pressured to overspend on presents, as well as coping with the plethora of parties, socialising, new outfits and luxury food shops. For those homeowners already on a financial knife edge, it can be the tipping point leaving them unable to stop house repossession.

A fast house sale through a property rescue company that can buy your home fast is one way to stop house repossession. But experts have warned that the current dire debt situation will get worse as the credit crunch takes hold. Many financial advisors are trying to warn homeowners not to become another debt statistic in the New Year. Being unable to stop house repossession can be devastating for you and your family. But many believe that although repossession numbers have been relatively stable, it is now the calm before the storm. The rise in interest rates means those with credit card debts and mortgages are being hit by bigger bills, the added expenditure of Xmas can be enough to send them over the edge, leaving them unable to stop house repossession. If you’re worried you can’t stop house repossession, www.njoy.co.uk can help.

njoy.co.uk is a dedicated website that can help get you the best price for your property from committed cash buyers in your area. We aim to have you a cash offer in principal for your house within 24hrs of you registering your house on njoy.co.uk.

Many of our registered investors can offer you a 'sell and rent back' option, where they will buy your house for an agreed price, and allow you to stay in your property as a tenant. This may enable you to pay off all your debts in one easy stroke by releasing the equity tied up in your home. If you wish to discuss the process then we would be delighted to talk to you at your convenience, our customer service team can always be contacted either by telephone 0845 337 0038 or alternatively you can email your query to: info@njoy.co.uk