Fear of repossession caused nervous breakdown

Fri, 23 Dec 2011

Fear of repossession was one of the main reasons behind a man's nervous breakdown and attempted suicide, a court has heard.

The High Court in Belfast was told that a male was driven to such action because of the pursuit of a sub-prime loan company that was chasing him up on his debts, the BBC reports.

It was revealed the firm wished to repossess the man's home owing to a loan worth more than £9,000.

After accepting correspondence initiated by the business was not as unreasonable as that portrayed by the subject, the judge in the case granted the repossession order, stating: "A log of such phone calls suggests a more responsible attitude on the part of the plaintiff's staff than indicated by the defendant's evidence on the point."

However, this action was suspended on the requirement that the man repays the remaining money over the course of 20 years.

The news comes after managing director of online property network xit2 Mark Blackwell recently suggested rising unemployment in 2012 could lead to escalating repossession figures, the Financial Times Adviser reported.

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