From The Debt Advice Bureau:
More Borrowers Plan to Reduce Their Debts
49% of people with debts say they plan to cut their borrowing over
the next six months, according to the latest Consumer Sentiment
Report from the Nationwide building society, a 7 percentage point
jump from last month and a massive increase from the mere 16% who
were planning to cut borrowing six months ago.
Whilst people don’t expect to save more, the report reveals,
they do intend to spend less and use the increased disposable income
to reduce their debt.
“It is encouraging that consumers appear to be taking a
responsible view of borrowing and more people appear to be planning
to reduce their level of household debt.”, said Stuart Bernau,
Nationwide’s executive director, commenting on the figures.
The five interest rate rises between November 2003 and August 2…
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