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Card bonds set to weather credit slide
12 May 2006 source: today.reuters.co.uk

By Bei Bei She LONDON (Reuters) - Bonds backed by credit card receivables can weather further deterioration of consumer credit even though personal insolvencies are already at record levels, two credit rating agencies say. More Britons than ever found themselves unable to pay back their debt in the first quarter of 2006, as the nation's 1.0 trillion pound household debt mountain claimed more victims. Consumer insolvencies in England and Wales soared 73 percent to a seasonally adjusted 23,351  ...

 

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