Lenders repossessing homes for credit card debt

Meanwhile, debt charities have attacked high street banks for repossessing homes to recover credit card debts of just several thousand pounds. Citizens Advice has warned borrowers struggling to repay credit cards or personal loans they are at risk of losing their homes because lenders are increasing securing debts against a borrower’s property. Citizens Advice said that creditors are using the courts to ‘intimidate’ vulnerable debtors into paying unaffordable amounts. It points to research showing that since 2000 there has been a 722 per cent increase in the number of charging order applications.