Bike theft debt threat

The theft of bicycles is costing riders hundreds or even thousands of pounds each per year, which could force many to seek debt solutions.

Research from Aviva shows that a third of cyclists have had a bike stolen in the past five years, with nearly one in ten (8 per cent) having lost three or more.

With a good bike costing anything from £300 to £3,000, this could result in a huge amount of debt for cyclists who need to replace one which is stolen.

Ian Coull from Aviva warns that the up-coming bank holiday could provide rich pickings for bike thieves, as more people head out on two wheels.

Last year saw more than half a million (540,000) bikes stolen, ratcheting up the debt levels for their erstwhile owners.

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