MSE News: Consumer borrowing slows following Bank of England warnings

Former_MSE_Rosie

Borrowing by consumers on credit cards, loans and overdrafts is showing signs of slowing down, according to latest figures...

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'Consumer borrowing slows following Bank of England warnings'

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Tiners

Hmmm, deafening silence from the regulars re this piece of news.

This place really should be renamed the Over Leveraged Debt Junkie Expert forums

Thrugelmir

Debt can only grow as long as people can afford to borrow. Saw Vanquis reps the other day signing people up to expensive credit cards. There's still a major problem. That requires a degree of regulation to protect some people from themselves and stop them sliding down the slope into financial distress. Ultimately someone pays for this misery both in term of mental helth and in cash. .

A_Medium_Size_Jock

Tiners wrote: »

Hmmm, deafening silence from the regulars re this piece of news.

This place really should be renamed the Over Leveraged Debt Junkie Expert forums

Have you heard the saying "one swallow does not a summer make".

Cakeguts

It will increase again in December.

The_Groat_Counter

Thrugelmir wrote: »

Debt can only grow as long as people can afford to borrow. Saw Vanquis reps the other day signing people up to expensive credit cards. There's still a major problem. That requires a degree of regulation to protect some people from themselves and stop them sliding down the slope into financial distress. Ultimately someone pays for this misery both in term of mental health and in cash.

Well said.

(And I also saw Vanquis reps at it today, and they do seem give it the heavy sell... not good.)