Bank of England gives stark warning about household debt in the UK | Debt Advice Foundation

Bank of England gives stark warning about household debt in the UK

The governor of the Bank of England, Mark Carney, has revealed that overall unsecured debt is rising at its fastest pace for 11 years

The governor of the Bank of England, Mark Carney, has revealed that overall unsecured debt is rising at its fastest pace for 11 years

 
In particular he said that consumers were borrowing more on their credit cards and other unsecured debts, including overdrafts.
 
The Bank's Stability Report showed that the ratio of household debt was 133% of income in the second quarter of 2016.
 
Credit card lending is now at record levels, up by £571m in the last month.
 
In response to the Bank of England figures, Eddie Nestor from BBC Radio London’s Drivetime programme interviewed one of our clients on how her partner’s debt had affected their lives before they sought advice from Debt Advice Foundation.
 
You can take a listen to the programme over the next month here
 
If you would like to know how Debt Advice Foundation can help you, call our advisers on .

 
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