WOULD you credit it? Our borrowing has risen to such record levels that charities are warning that we are risking a serious debt problem.
Credit taken out in the year to July grew by almost ten per cent, new figures from the Bank of England revealed this week.
The average household owes £7,413 in unsecured debt and one in three people reports feeling plagued by money worries daily.
There has even been an eight per cent annual rise in calls to the National Debtline, run by financial help charity the Money Advice Trust.
Joanna Elson OBE, chief executive of the Money Advice Trust, said: Outstanding balances are now over the £201billion mark.
Most people may well be able to cope with these extra commitments for now.
However, the higher…
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