UK debt management lowers load
UK debt management lowers load
- Tuesday, 3 March 2009Financial charity Credit Action has added up the national debt burden on its debt management calculator.
In January 2009, the organisation found that UK debt grew by £1 million with each 40.6 minutes that passed.
The figures could have Britons reaching for their own debt management calculator to help slow the increase in consumer borrowing.
But the findings are more positive than a year earlier, when the organisation saw £1 million added to the total UK debt every 5.3 minutes.
Over the course of January 2008, £8.4 billion in new lending was approved, compared with just £1.1 billion in the same period of 2009.
The results could indicate more Britons are tackling the amount they owe by trying to eliminate
credit card debt and other unsecured lending.
And the 40.6 minute statistic marks the continuation of slower borrowing, with Credit Action revealing that national debt grew by around £1 million every ten minutes over 2008 as a whole.
Recent Debt Management Plan News
56% of Brits have no life insurance which could leave family with debt problems
Wed, 04 May 2011More than half of UK adults currently have no life insurance cover, which could mean their loved ones are left with
debt problems when they die...
Brits thinking about retirement advised to seek debt advice
Tue, 03 May 2011Consumers considering their retirement options have been advised to seek professional advice, as they may end up with
debt problems in the future...
Brits planning to attend a wedding should start saving to avoid debt problems
Thu, 28 Apr 2011Consumers concerned about getting into
credit card debt to pay to attend a wedding may want to use their savings instead...
Couples planning their big day can avoid debt problems by negotiating a cheap wedding
Wed, 27 Apr 2011Couples-to-be worried about needing
debt advice in the future after paying for a wedding can ensure they avoid accruing
debt problems by negotiating a cheap wedding...