New figures from the Bank of England show that the total personal debt of UK citizens is now a record £1.199 trillion, with combined mortgage debt breaking through the trillion pound mark for the first time.
The Consumer Credit Counselling Service (CCCS) have warned that the number of people in extreme debt is rising fast, with numbers nearly doubling in a single year.
Citizens Advice have called for a new form of insolvency to be made available to people on low incomes, after new figures show many of their clients are facing the prospect of a lifetime of servicing unpayable debt.
The Consumer Credit Counselling Service (CCCS) has said that debt seems to be a ‘normal part of life’ for high earners, with the number of people earning more than £30,000 a year asking them for debt help rising 257% in the last 3 years.
A recent study conducted by YouGov on behalf of debt consultancy firm Thomas Charles has estimated that nearly a fifth of the UK adult population have unsecured debts of £10k or more.
A new survey shows that while people in the age group 18 to 29 are amongst the most indebted in the country, they are largely responsible borrowers who haven’t simply run up credit card bills in the pursuit of a lifestyle beyond their means.
A new survey says that three quarters of Britons in debt say they are comfortable with the amount they owe, and 85% don’t expect to have any problems keeping up repayments.
A new survey has once again highlighted the high levels of unsecured debt in the UK, with over 2 million of us having debts of £10,000 or more.