British Household Debts Reach Record High
December 14th, 2010Via: Independent:
More than half of households are struggling to repay credit cards and loans, a Bank of England survey suggested today.
A total of 51% of respondents reported that their unsecured debts were a “burden” – a record high for the annual study.
Illustrating the financial pressures faced by millions, one in two households also said they had seen their disposable income fall over the past year.
More than a quarter – or 28% – said their monthly earnings had fallen by more than £100 during that time, with just 14% saying it had gone up.
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