Tuesday, January 10, 2012
The number of cases ending in staggered payments rather than one-off settlements has risen by 50 per cent since 2008, when the financial crisis first began biting, according to Pannone, a Manchester-based law firm.
The practice has been dubbed “HP divorce” after the hire purchase agreements typically used to buy expensive consumer goods. Increased economic turbulence, job insecurity and the drying up of credit has fuelled growth in the phenomenon.
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