UK personal debt just keeps rising

“The only sure things are death and taxes” – or words to that effect – might be quite accurate, but for most adults in the civilized world another sure thing could be added, and that is debt. Most of us owe a little or a lot of money at some point in our lives, and that’s perfectly acceptable up to a point.

According to the UK

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More than 8m households struggling to manage debt

Over eight million families in the UK have stated that their personal debt is a ‘burden’ on their household. It is estimated that the average home in the UK is about £3,200 in debt. A new report from the Office for National Statistics shows that debt problems have continued to increase since 2008 when the recession officially hit.

The Office for National Statistics report does not

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Prospective retirees are in serious debt according to Prudential study

The insurance giant Prudential has found out that 20 percent of Brits who intend to retire this year owe an average of £31,200 from credit cards, mortgage debt and overdrafts. However, the Prudential discovered that the owed amount has dropped in comparison to the previous year since more and more people retire with no mortgage debts.

Last year, the mean value owed by a person who

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Less than 10% of UK adults have never been in debt

A recent study about debt of people in the UK has shown that most adults in the country now have some form of debt and it is expected that around 30 percent of these people are going to remain in debt for an indefinite period. It is estimated that fewer than 10 percent of adults who are aged over 30 have never owed any money

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