New research on the levels of UK consumer debt has been released by analyst group Mintel, highlighting both the worrying amount of debt many people are in, and the even more worrying lack of concern many people have about their borrowing.

Accordingto the survey, some 21 million people, or 44% of adults, have some form of debt apart from mortgages. A quarter of these owe less than £500, but a sizeable number owe significantly more, with 8% owing between £10k and £20k, and another 5% owing even more than that.

Among these most heavily indebted, 70% say they are unconcerned about their debts, and 25% say that they’d even consider borrowing more.

Overall, 85% of people feel that their borrowing and finances are under control, with 10% describing themselves as ‘quite worried’ by their debts, and 5% extremely worried.

This relaxed attitude suggests, says the report, that the nation’s appetite for credit may not yet have been sated.

Read more at Mintel

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