Latest Debt News
Growth in personal loans
13/03/2006 17:35:00
Over the last year the average Briton has taken out ten per cent more on a personal loan compared to 2004.
Personal loans have also been growing in popularity, with a 45 per cent growth seen across the year – a statistic that has caused Britons to beat their European and US counterparts in accumulating personal debt.
Financial analysts have put the rise in popularity of personal loans down to the reduction in bad debt indicators.
Factors such as a low unemployment rate, less repossession and low county court judgements have contributed to a positive attitude towards personal debt across the UK, claim analysts.
Furthermore, the experts have said they do not fear "any negative fallout of this trend".
© Adfero Ltd