• From The Telegraph:

    Britons are facing a growing threat of bankruptcy, as latest figures show the average household is almost £60,000 in debt. 25 million households in UK are carrying an average debt of £58,461Experts warned that despite the credit crisis and stricter conditions on lending, cash-strapped Britons are suffering from years of indulging on relatively cheap borrowing.Figures show the total outstanding UK consumer debt – including credit cards, loans and mortgages – has increased by 7.3 per cent to £1,444 billion over the past year, up from £1,346 billion in June 2007.There are almost 25 million households in the UK, therefore carrying an average debt of £58,461.Families face further rises in gas billsMortgage conditions ‘set to worsen’Families at risk from profiteeringadvertisementStephen Gifford, Grant Thornton’s chief economist, said: “The figures clearly illustrate the continuing problems of growing personal debt levels in the UK. If the property market an…

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    Posted by Jon @ 2:24 pm

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