KIRSTY APP - Borrowing As A Fact Of Life

BORROWING CREDIT AND BORROWING AS FACTS OF LIFE

During 2015 Britain's consumers increased their outstanding debts by 18 per cent, so that by the end of the year they collectively owed £636.4 billion, quite apart from mortgages on houses and flats. The figure covers credit agreements with banks, building societies and finance companies and borrowing by credit cards.

The rise in serious debt problems is a cause for real concern. During the 2015 it became the single largest category of problem brought to Citizen's Advice Bureaux. (www.citizensadvice.org.uk)

Fortunately, the vast majority of credit arrangements and loan repayments are successfully managed. However, for those who get it wrong there can be many problems. Some of them are outlined in this website, along with suggestions for avoiding them. This section aims to help you stay with the majority and guard against over commitment, which can combine with an unforeseen drop in income to turn using credit into coping with debt.


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Borrowing The Price Of Borrowing

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