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Borrowers Daunted By Debt

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'Three-quarters of British borrowers claim to be comfortable with their debts, while 85% are confident they can meet repayments, according to figures published today.'

A quarter are less than happy with debt, and 15% are less than confident they can meet payments.

'Only 47% of respondents who lived in the capital said they felt confident about covering repayments.'

More than half the Londoners were less than confident about covering repayments. Yes folks they said it - less than half are confident about their debt payments but read the Headline. 'Borrowers undaunted by debt.' And they give a reason why - 'perhaps as a result of high house prices and living costs.'

So how does the headline justify this - 'Government figures show that last year the number of personal insolvencies had reached the highest level since records began, while repossessions were also on the rise.'

They survey didn't ask about interest rates but a V.I. says it's O.K.

'Rima Awad-Sanders, a spokeswoman for CreditExpert, said it should not be surprising that 75% of those questioned felt comfortable with their borrowing', which is a whopping 25% feeling less than comfortable with debt.

Is this the best double speak ever or am I becoming a financial, media cynic.

The latter is in fact a truth - I am a cynic to debt control of the population and the media propaganda.

Has anyone else here noticed some really bad reporting.

Rant over.

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i say most people start by only paying the minimum on CC until they reach a point that minimum becomes so big they need to take out new debts to stay afloat

Most people dont look at statements and just sweep bills under the carpet

A recipie for disaster

As for reporting - anyone who is reporting most people are happy with their debt is living in cloud cuckoo land

They are only comfortable with their borrowing because they havent looked at the statements properly!

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  • 301 Brexit, House prices and Summer 2020

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      • down 5% +
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