Soaring bad debt hits credit card lenders

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Soaring bad debt hits credit card lenders

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09-01-2010, 09:45 PM

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Soaring bad debt hits credit card lenders

UK banks are facing mounting losses from credit card customers, with figures from the Bank of England showing write-offs rising to £2.1 billion in the three months to the end of June, up from £1.3 billion in previous quarter. According to a BBC report, the 2010 total for bad credit card debt now looks set [...]

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