News Tag: consumer debt
September 16, 2009
Britain's level of debt increased again the second quarter of this year, with almost double the level of borrowing compared to the first quarter of 2009.
Consumers borrowed £5.5 billion between April and June, nearly twice as much as the £2.9 billion borrowed between January and March, said financial advice site unbiased.co.uk.
Savings levels grew to £21 billion in the second quarter, up ...
Consumer debt on the rise again
by David Masters
July 2, 2009
Britain's mountain of debt continues to grow, with the average adult now owing 132% of their typical earnings.
Collectively, UK consumers owe £1.459 trillion, Credit Action revealed this week, equivalent to £30,480 per person.
Personal debt on credit cards, store cards, overdrafts, and unsecured loans is also on the rise, increasing to £4,860 per person during the month of May.
The pace at which ...
Debt mountain grows to £1.46 trillion
by David Masters
