Personal debt increasing

 

PERSONAL DEBT INCREASING
Article date: 20/04/2005 : 10:18:47

Personal debt is on the rise according to the Credit Services Association (CSA), which also claims that starting to find it harder to meet their repayments.

Average debt now stands around £100 higher than is was a two years ago, at £1,300 and nearly half of CSA members reported that it is becoming harder to collect repayment from both businesses and individuals. In addition to this the number of debts being chased up by collection firms is increasing.

Speaking to the BBC, CSA president Scott Soutar, said: "Debt collectors are finding it harder to collect as consumers struggle to pay."
 
 
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