One in ten Brits 'concerned' about borrowing
Published On 22 November 2007
One in ten people who have some sort of debt feel 'very concerned' about their ability to repay what they owe, according to a new report.Research carried out by MoneyExpert found that a total of 3.4 million people might be struggling to cope with their debts.
More than one in four people in the UK have become even more indebted over the last three months and the proportion of 'very concerned' people has risen from seven per cent to 11 per cent.
A study from Chilten revealed last month that the average debtor is 43 and owes just over £26,500.
Sean Gardner said that "with the festive season just around the corner, we can only predict that the number of people worried about their ability to deal with their debts is likely to increase".
Although the number of people who are 'very concerned' has increased, some 41 per cent of people with debts are not worried about how they are coping with it.
In addition, 26 per cent of indebted people have managed to reduce the amount they owe, with seven per cent decreasing debts by 20 per cent.
