Stop Repossession as Poverty ‘on the Rise’

The need to stop repossession could become increasingly urgent as child poverty is set to rise.

The Joseph Rowntree Foundation conducts an annual assessment of poverty in the UK. And although the Government has committed to eradicating child poverty by 2020, the Foundation states that poverty has been rising steadily in the UK since 2004. In fact, the annual report states that child poverty is now at the same level it was at the start of the decade as more families are faced with the serious problem of having to stop repossession.

Stop Repossession – Combat Poverty

2004 was the year the Foundation says was a key turning point as property repossessions, unemployment and poverty all started to rise in the UK. The report states that repossession was an acute issue before the recession even started. Although the need to stop repossession has become even more urgent since 2004, there was some positive news in the report: a decreasing fear of crime being one of them, better basic school results for 11 to 16 year olds, and fewer children being expelled from school.

Child Poverty and Unemployment

The inability to stop house repossession and rising unemployment have been identified as key triggers behind child poverty. And the Joseph Rowntree Foundation has said that long term solutions were needed to try and turnaround the poverty trend. Despite the economic gloom however, the report found that infant mortality has dropped in the past ten years. Unemployment remains at the root of the problem as work is the best route out of poverty. Unemployment can devastate families, forcing more through the stress of trying to stop repossession.

Repossessions Keep Rising

Two million people are living in low-income households, which is the highest figure since the Joseph Rowntree Foundation began collecting records. The root cause of the problem was simply not enough employment or enough income to keep up with the cost of living and property prices. This is reflected in the high numbers of repossessions that have increased steadily in the past five years.

Despite the Government’s commitment to eradicate child poverty by 2020, the report suggests longer term solutions need to be found to stop the repossession risk and achieve their objective. That 50,000 households were repossessed in 2009 has been said to be ‘still worrying’ with deep-rooted social problems still ‘plaguing Britain’.

Don’t be a victim to repossession – you can stop repossession with the right help and advice. Speak to Move Quickly, call today on 01302 722 900.