Debt solutions could be needed
02/12/2010Debt solutions like a Debt Management Plan or IVA could be taken on with greater regularity in the UK, as the nation slips into higher levels of personal debt.
The latest figures from Credit Action have suggested personal debt growth of 0.8 per cent over the 12 month period, with Brits owing almost £1.5 trillion at the end of October.
Lending was also up in the month, by an increase of £1.3 billion.
As a consequence, the personal debt problems in this country are still more than what the whole of Britain produces in a year. However, the average unsecured debt for UK households using credit continues to reduce to £17,825.
Kevin Still, Director of Atlantic Financial Management says "One of the worries is that trade associations like the Finance & Leasing Association (FLA), which represents many of the leading finance houses and credit card issuers, has reported continued reductions in lending levels, which would suggest that UK consumer are seeking credit through more expensive channels which can lead to future debt problems."
Debt problems - Household Finance Index
22/03/2011Debt problems could put an even greater pressure on homewoners finances in the coming year, followin ...
Debt problems – energy debt
16/03/2011People in the UK that are currently dealing with debt problems are having their situation made worse ...
Debt problems: advice options
09/03/2011Britons who are having to deal with debt problems at present do have a broad range of outlets when i ...
Debt problems: water meter
01/03/2011Debt problems that cause daily problems for the UK's consumers could be alleviated with the addition ...
