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Personal debt mountain as big as it ever was.

«13456

Comments

  • Graham_Devon
    Graham_Devon Posts: 58,560 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    Seems personal debt is showing a trend of increasing rather than declining, which is no suprise considering the squeeze on budgets.
  • J_i_m
    J_i_m Posts: 1,342 Forumite
    Not for me, I've settled my debts and am saving for my biggest debt ever... Oh wait...
    :www: Progress Report :www:
    Offer accepted: £107'000
    Deposit: £23'000
    Mortgage approved for: £84'000
    Exchanged: 2/3/16
    :T ... complete on 9/3/16 ... :T
  • shortchanged_2
    shortchanged_2 Posts: 5,546 Forumite
    This report doesn't make for good reading for Georgie boy or Sir Merv.

    We hear many stories of people who are paying down debts, never had it so good etc. So what this report highlights is that things must be getting a lot worse for many people.
    Why are we here?......................because we are not all there.
  • Graham_Devon
    Graham_Devon Posts: 58,560 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    shortchanged wrote: »
    This report doesn't make for good reading for Georgie boy or Sir Merv.

    We hear many stories of people who are paying down debts, never had it so good etc. So what this report highlights is that things must be getting a lot worse for many people.

    As is always the case....those paying down the debts will be those able to afford to. Of course on here, were led to believe this is everyone.

    People really are having a hard time of it out there.

    What's more worrying is that debt is going up at a time when spending figures are falling. It would need a longer trend, but it could suggest the debt is being used for living expenses, rather than the frivolties we used to see debt being used for.

    The cost of living is getting higher and higher...and all it seems the government and BOE are concerned with, is making it higher again.
  • CLAPTON
    CLAPTON Posts: 41,865 Forumite
    10,000 Posts Combo Breaker
    the report says that mortgage debt is up by 0.6% year on year

    and unsecured debt is down by 1.9% year on year

    give inflation is round 3-4% it's definitely time to panic
  • Loughton_Monkey
    Loughton_Monkey Posts: 8,913 Forumite
    Part of the Furniture Combo Breaker Hung up my suit!
    Who are this 'Credit Action' mob? They seem to be some religious organisation. Is this their way of trying to rid the world of all money lenders?

    I'm surprised they are not bringing in more funds by including Ads within their website. Payday Loan companies [only 1,700% interest] would be assured a well targeted audience....
  • julieq
    julieq Posts: 2,603 Forumite
    Bear rule 1: A VI is only a VI if it supports a bull argument. If it confirms bear bias it becomes a trusted, independent, organisation.
  • CRASH_BANG_WALLOP
    CRASH_BANG_WALLOP Posts: 661 Forumite
    julieq wrote: »
    Bear rule 1: A VI is only a VI if it supports a bull argument. If it confirms bear bias it becomes a trusted, independent, organisation.


    Bear Rule 2: Try not to get into a debate with julieq. Especially about the economy. Its easy to moligate her on this subject. Therefore she soon begins a hissy fit
    Maidstone Prices - average reductions at 8.5% (£19,668) Feb 2012 - We thought the dudes were not allowed to drop prices?
  • shortchanged_2
    shortchanged_2 Posts: 5,546 Forumite
    julieq wrote: »
    Bear rule 1: A VI is only a VI if it supports a bull argument. If it confirms bear bias it becomes a trusted, independent, organisation.

    Does this not apply to bull arguments as well?
    Why are we here?......................because we are not all there.
  • ILW
    ILW Posts: 18,333 Forumite
    If Boe were to stop creating more "funny money" (QE) it would help the inflation issue.
This discussion has been closed.
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