It would seem that the Bank for International Settlements has a very gloomy view of the years ahead http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2008/06/30/ccbis130.xml .
That may have many effects, and for anyone owing money it could suggest that conditions will be changing. For that reason you need to be sure you have flexibility in any arrangements you have. Don’t tie yourself to a rigid repayment system if you can possibly help it, and try to make sure there is some arrangement for flexibility in repayments when the need arises.
All easier said than done perhaps. But if you don’t ask there is no chance of getting some room for unforeseen problems. If you do ask you may be surprised what may be possible. and feel free to shop around; I doubt if any particular supplier of credit can claim your loyalty.
These days we are all numbers on a computer!
Control Your Debt Crisis 