There is still a weight of mounting debt in the UK for the majority of consumers and figures show that 8 out of 10 are still in debt.
Around one third of consumers feel that it is almost impossible to get out of the red and they will owe money indefinitely. A further 27% feel that they will owe money on their borrowing for the foreseeable future.
Mark Pearson of myvouchers.co.uk who carried out the research said that “without a mortgage thrown in to the mix to see that so few people over 30 hadn’t experienced debt was a bit of a shock”.
The ratio of consumer debt to disposable income has increased for the first time since 2008 according to figures recently released by the Office for National Statistics. The Consumer Credit Counselling Service says that this could worsen in the coming months.
Money charity Credit Action also agreed that Brits are mired in debt from statistics gathered recently. The survey showed that personal debt was continuing on an upward trend rising to £1.410 trillion at the end of July 2012 compared to £1.406 trillion at the end of July 2011.
Average household debt in the UK, including mortgages, reached £53,613 in July rising from £53,597 in June.
Revive Management offers a hosted multi-channel communications platform that allows companies to pro actively communicate with its customers via interactive voice messaging, dialler, email and SMS therfore improving the collections strategy.
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