UK Consumer Debt Tops £1 Trillion

[Ali]

Looks like the UK isn't much better off than the US.

CONSUMER advice group Debt Free Direct has warned the UK’s debt problem is 'significantly greater' then previously estimated.

The Aim-listed company said one in three people is concerned about the impact of rising interest rates on their ability to pay off debts.

In a trading statement, it estimated 865,000 people have considered filing for bankruptcy.

Nearly 5m people spend more than they earn on a regular basis, with 2.5m doing so on a monthly basis.

Chief executive Andrew Redmond said: 'We are concerned that many people facing financial difficulties are not aware of the options open to them and choosing the wrong solution can actually increase their debt problem.'

The company said it has embarked on a recruitment drive to handle the increased number of cases it is dealing with.

It expects year-on-year sales to be up by 63% for the six months to the end of October.

Consumer debt has reached epic proportions, topping £1 trillion for the first time this summer.

The company said a lack of financial literacy was adding to the problem, with many consumers unaware of what Individual Voluntary Arrangements, debt consolidation loans and debt management plans are.

Some people throwing stones at the US on this board had better make sure their double-glazing bills have been paid.

[Ace42]

Consumer debt and national debt are two very different things. If you weren't spending every post trying to score points off me (and failing) you'd see this.

The UK has a massive national debt, the foundations of which nearly all originate from buying armaments off of the US during WW2. That is again, different to "deficet spending"

Your persistant attempts to belittle me, and inability to offer anything of merit to the debate on here, have earned you a place on my ignore list. If you intend to criticise my style of posting, let me remind you that it is YOU who went off in a huff following criticism from the vocal right-wing at the time, after sending me several unsolicited PMs sucking my cock for making your point for you in a couple of threads, due to your total inability to master the facts.

Funny how you "really enjoy" my posting when I am criticising the French-bashing from the yanks. But as soon as I say something you dislike, you start targeting my posts in order to whine like a butt-fucked bitch.

[Ali]

Originally Posted by Ace42

Consumer debt and national debt are two very different things. If you weren't spending every post trying to score points off me (and failing) you'd see this.

The UK has a massive national debt, the foundations of which nearly all originate from buying armaments off of the US during WW2. That is again, different to "deficet spending"

Your persistant attempts to belittle me, and inability to offer anything of merit to the debate on here, have earned you a place on my ignore list. If you intend to criticise my style of posting, let me remind you that it is YOU who went off in a huff following criticism from the vocal right-wing at the time, after sending me several unsolicited PMs sucking my cock for making your point for you in a couple of threads, due to your total inability to master the facts.

Funny how you "really enjoy" my posting when I am criticising the French-bashing from the yanks. But as soon as I say something you dislike, you start targeting my posts in order to whine like a butt-fucked bitch.

Pity you're on my ignore list, so I've no idea what your reply was.
Something arrogant, I expect.

[ASsman]

You can quote people on your ignore list? Interesting.

[yeahwho]

Originally Posted by ASsman

You can quote people on your ignore list? Interesting.

[Ali]

Originally Posted by ASsman

You can quote people on your ignore list? Interesting.

doh!