Consumer Debt Growth Slowing Down

Published / Last Updated on 17/12/2006

According to the Alliance and Leicester, the rate at which consumer debt is growing is slowing down and is the lowest it has been for 10 years.

Alliance and Leicester has stated that there is a big difference in people’s attitudes for those who have mortgages and those that don’t. There has also been an increase in business for companies who arrange individual voluntary arrangements.

Our view

We see no reason for this not to continue. The Bank of England has increased interest rates and gained the desired affect.

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