You are here: Home - Uncategorized -

1m Britons could face bankruptcy

0
Written by:
22/05/2006

A million people in the UK could be teetering on the brink of bankruptcy, while eight million people have non-mortgage debts of more than £10,000.

According to debt consultancy Thomas Charles, 1.7 million people have difficulty making their debt payments, with almost a million of these people struggling to meet their financial obligations every month. Bank of England figures showed the amount of personal debt in Britain passed the £1 trillion mark in 2005, with people encouraged by low interest rates and the easy availability of credit. Much of that debt is mortgage, or secured debt, but a growing proportion is unsecured credit card or overdraft debt.

Tagged:

Tag Box

Debt

Pension

Spending

Financial fitness

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Are you a first-time buyer looking for a mortgage?

Look no further, get the help you need by searching for your perfect mortgage

Five ways to get on the property ladder without the Bank of Mum and Dad

A report suggests the Bank of Mum and Dad is running low on funds. Fortunately, there are other options for st...

The essential Your Money guide to the April 2018 tax changes

As we head into the 2018/19 tax year, a number of key changes take place to existing policies while some new i...

A guide to switching energy provider

All you need to know about switching from one energy supplier to another.

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Having a baby and your finances: seven top tips

We’re guessing the Duchess of Cambridge won’t be fretting about maternity pay or whether she’ll still be...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co...

YourMoney.com Awards 2018

Now in their 21st year, our awards recognise the companies offering the best products and services to consumers

Money Tips of the Week

Read previous post:
‘Expensive’ British Gas gets customers hot under the collar

British Gas (BG) owner Centrica has admitted that the utility company has lost 350,000 customers since the start of last...

Close