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Kingston-upon-Thames 'most likely to need debt management solution'

Kingston-upon-Thames 'most likely to need debt management solution'

- Wednesday, 27 May 2009

People living in Kingston-upon-Thames have been identified as those who may be potentially most in need of debt management solutions, new research has revealed.

A new report from comparison website Confused.com shows that residents of the town are the most indebted in the UK, owing 169 per cent of their combined annual income.

The survey assessed the extent to which UK regions owe more than they earn. It was found that, on average, for each £1 people earn, they will owe £1.02 in debts - suggesting that many people may benefit from debt management advice.

Gemma Stanbury, head of savings, loans and debt at Confused.com, commented: "As we face continued uncertainty and increased financial pressures, it is good advice for all to become more aware of what they are spending and on what.

"Where spend and debt can be reduced, efforts should be made to ensure it is done."

According to Credit Action's debt statistics, one person is declared bankrupt or takes out an individual voluntary arrangement (IVA) every 4.5 minutes. Meanwhile, the average household debt stands at £58,350.ADNFCR-2300-ID-19188147-ADNFCR
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