Debts continue to plague millions of Brits
by Daniel Jones
People throughout the UK could be at risk of receiving an eviction notice
as figures show that debts continue to plague personal finances.
Research from moneysupermarket.com reveals that 27 per cent of people spend more than 40 per cent of their wages on repaying non-mortgage debt.
As a result, they are left unable to meet bills and other living costs that seem to be constantly on the rise.
Tim Moss, head of loans and debt at moneysupermarket.com, said: "It's therefore worrying to see such a high number of people needing to use so much of their income just to service existing debt."
The average debt per person currently stands at £322, while eight per cent of people admitted to spending in excess of 80 per cent of their wages paying back money they owe.
Furthermore, men were found to hold a higher proportion of debt than their female counterparts.
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Published on: September 21, 2011
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