Warnings have been issued recently by debt counselling charities, regarding an increasing trend by some of the high street lenders to issue charging orders on borrowers homes in order to recover bad debts. Major names in loan provision such as Abbey, Alliance and Leicester, Bank of Scotland, Halifax, Lloyds TSB, Nationwide, and Northern Rock have all admitted to using these measures to turn an unsecured loan into one that is secured against the borrowers house.
When a…