Wednesday, Feb 17, 2010
Maxed Out
Daily Mail: Barclaycard writes off £1.8bn in debts as UK credit card debt climbs to £5bn
Bad debts at Britain's biggest credit card provider have soared by nearly two thirds to £1.8billion as record numbers of shoppers went bust. The amount Barclaycard said it has written off climbed 64 per cent during last year, it said yesterday. Industry analysts believe the total UK credit card debt written off this year could reach £5billion as the plastic spending bubble bursts.
Posted by cat and canary @ 05:06 PM (786 views) Add Comment
4 Comments
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1. cat and canary said...
"Barclaycard has 10.4million UK card customers and 10.8million in the U.S., Europe and Africa - with outstanding credit card balances totalling £20.5billion."
2. freemanphil said...
Expect another bailout, and, maybe this time inflation will get Jack off his seat to start taking notice. Jack, you listening?
3. mander said...
What is 1.8 billion to 11 billion pretax profit?
4. markj69 str05 said...
@3... Remember that's only the c/card debt defaults. I bet other loans (IE mortgages), are considerebly higher in value.