A leading name in the field of banking services reveals that homeowners are reducing their unsecured debt and the people who are really piling pounds on to their credit cards are tenants.
March 21, 2007 (Press Release) --
London – March 17, 2007: According to debt consultancy Thomas Charles, more than a fifth of people living in London and the North-East are on the brink of financial disaster. The research shows that 22% of Londoners and Northeasterners are on the brink of declaring themselves bankrupt or take out an IVA (Individual Voluntary Arrangement).
YouGov’s (a news portal) sample research of 2,315 people, conducted in the first quarter of 2007, shows that people in both areas have large amounts on unsecured personal loan debts – with 19% of Londoners and 21% of Northeasterners owing more than £10,000 on overdrafts, payment cards like credit cards and loans like unsecured personal loans, excluding mortgages.
However, Citizens Advice has a slightly different account to recount. According to their latest statistics, child maintenance arrears and high energy, water and council tax bills are putting most financial strain on those visiting its bureaux (up by 34%), rather than credit card spending and unsecured loan debts (up by 3%). ]
According to Alliance & Leicester’s spokeswoman Ginny Broad, “Since July 2006, homeowners with mortgages have reduced their unsecured borrowings by an average of £197 (3%).
This may be a response to higher mortgage rates. By contrast, households without mortgages to pay have continued to take out loans and use their credit cards - though at a much slower pace than in the past – on average increasing their unsecured debt by £98”.
For more information on the news that is the subject of this press release (or for a copy, demo, or sample) contact Webmaster or visit :-
http://www.loans-park.co.uk
YouGov’s (a news portal) sample research of 2,315 people, conducted in the first quarter of 2007, shows that people in both areas have large amounts on unsecured personal loan debts – with 19% of Londoners and 21% of Northeasterners owing more than £10,000 on overdrafts, payment cards like credit cards and loans like unsecured personal loans, excluding mortgages.
However, Citizens Advice has a slightly different account to recount. According to their latest statistics, child maintenance arrears and high energy, water and council tax bills are putting most financial strain on those visiting its bureaux (up by 34%), rather than credit card spending and unsecured loan debts (up by 3%). ]
According to Alliance & Leicester’s spokeswoman Ginny Broad, “Since July 2006, homeowners with mortgages have reduced their unsecured borrowings by an average of £197 (3%).
This may be a response to higher mortgage rates. By contrast, households without mortgages to pay have continued to take out loans and use their credit cards - though at a much slower pace than in the past – on average increasing their unsecured debt by £98”.
For more information on the news that is the subject of this press release (or for a copy, demo, or sample) contact Webmaster or visit :-
http://www.loans-park.co.uk
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