Residents from Lincoln rack-up the DEBT

FOR IMMEDIATE RELEASE
(Free-Press-Release.com) October 2, 2007 -- Residents from Lincoln rack-up the DEBT

When it comes to taking out unsecured loans Lincoln’s residents are no strangers. They have racked-up more DEBT per household when compared to the UK national average.

Figures released today from DCM Money Solutions, one of the UK’s leading debt management companies, show that Lincoln’s residents owe on average more than the rest of the UK.

The Nottingham based firm has taken a snapshot of its customers from the county and compared these with postcodes from across the UK.

The typical Lincoln household owes a whopping £50,250, compared to the national average of £30,021 per household, not including mortgages. And, it gets worse, not only do they owe more they also have 11 debts per household compared to the average eight for the rest of the country.

Jim Caudwell, DCM Money Solutions’ Regional Business Partner for Lincoln, said: “We have seen a significant increase in the amount of unsecured borrowing across the country over the last 12 months. These statistics paint a picture of the amount of money owed by the typical Lincoln household.”

The published figures only account for unsecured borrowing such as credit cards, store cards and loans. The average debt increases significantly if you add in secured borrowing such as mortgages.

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