Warning of increased Debt Levels

Warning of increased Debt Levels

The Government run Money Advice Service has warned that consumers are increasingly turning to the costly credit options of personal loans and overdrafts to maintain their standard of living as real wages fall.  According to figures released by the Bank of England, credit grew at its fastest pace in July since December 2008. Money Advice Service have produced a useful guide called "Do You Need To Borrow Money?" which you can find at www.moneyadviceservice.org.uk/en/articles/do-you-need-to-borrow-money

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Author: James Henderson

Date: 03 September 2013