Average UK household to be £10,000 in debt by end of 2016

Facebook
VKontakte
share_fav

Report warns that people’s complacency over their ability to manage their borrowing could lead to resurgence in bad debt

The average UK household will owe close to £10,000 in debts such as personal loans, credit cards and overdrafts by the end of 2016, which is a new high in cash terms, a report has found.

Total outstanding non-mortgage borrowing grew by nearly £20bn or 9% in 2014, to reach £239bn, marking the fastest rate of growth in a decade, according to the report from PwC, Precious Plastic: How Britons Fell Back in Love With Borrowing.

Continue reading...
view The Guardian: Economics