Europol is a leading player in the field of repossession of financed assets, particularly motor vehicles.

Last year Europol repossessed over 5,000 motor vehicles.  With personal debt at an all time high in the UK (Bank of England) Europol, in the opinion of the Directors, should benefit from a slowdown in the economy.  The UK looks vulnerable to global storm (source: financialnews-us.com, April 2008).

As personal debt in the UK continues to rise and the effects of the credit crunch hits consumers, it is being reported that over 1 million people may end up in the County Court (2700 every day) over unsecured debt such as store cards, credit cards and personal loans.

News of this rise comes as UK personal debt is reported to have hit £1.4 trillion and over 60,000 families are at risk of having their homes repossessed as people struggle to meet the every day costs of living and are unable to manage their debts.

A uSwitch report has revealed the extent of the UK personal debt crisis. Almost one in four UK adults claim to be finding their debts unmanageable while 9.5 million have maxed out on one form of credit in the last six months and a further 38 per cent have had a credit card application rejected.

uSwitch.com has found that more than one in three people who applied for a new credit card in the last three months were declined while 19 per cent have found that their applications for unsecured loans were rejected. 

The panic in world financial markets has led to sharp falls in share prices and led to the contraction of credit markets.  Below we show how key indicators around the world have moved as recession fears grow. 

Stock Market Jitters

Rising Commodity Prices

 

The FED's Falling Interest Rates - Over 12 Months

Twelve months ago interest rates were 5.25%. By 30 January they had dropped to 3%. They are now 2.25%, as of 18 March. 

Collapsing US Housing Markets

Underlying the financial market wobblies is a real decline in US house prices nationwide for the first time since the 1930s.

Fall of a Wall Street Giant

Wall Street bank Bear Stearns collapsed when other banks lost confidence in the value of its investments in sub-prime mortgages. It was bought by JPMorgan Chase in March.