Summary
The rate at which Britons are taking on unsecured debt is running at nearly half the level it was last year, figures showed yesterday. During the six months to the end of August, people borrowed an average of pounds 520m a month through loans, overdrafts and credit cards, compared with an average of pounds 1.1bn a month during the same period of 2004, according to the British Bankers' Association.
At the same time, during August itself, people repaid more on their credit cards than they spent for the second time this year, reducing their outstanding plastic debt by pounds 146m.See the full content of this document
Extract
Unsecured Debt Is Half of What It Was
But despite the high levels of repayment, overall spending on credit cards remain hi...
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