• 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…

    Click to read the full article »

    Posted by Jon @ 2:25 pm

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