One in four borrowers anxious about paying bills
The escalating £1,500 billion personal debt mountain has left more than one in four borrowers worried about how they are going to pay off bills. A recent annual report conducted by YouGov for PricewaterhouseCooper revealed that around 16 per cent of people are having trouble paying off their debts, whilst 27 per cent of those questioned are concerned about how they are going to do it. Personal debt in the UK is now the highest in Europe and has steadily risen since the year 2000. The average debt per person is now £40,000, more than double the figure of eight years ago.
The survey also found that 100 adults enter into bankruptcy, an individual voluntary arrangement or start a debt management plan every hour in the working day. Of most concern from the findings is the dramatic increase in unplanned and unsecured debt on credit cards and overdrafts.
