Wednesday, January 2, 2008
Xmas is over, now is the time for debt junkies to go cold turkey
Total UK personal debt at the end of October 2007 stood at £1,391bn. The growth rate increased to 9.7% for the previous 12 months which equates to an increase of £122bn. Total secured lending on homes at the end of October 2007 stood at £1,169bn. This has increased 10.5% in the last 12 months. Total consumer credit lending to individuals in October 2007 was £222bn. This has increased 5.8% in the last 12 months.