Why does the average Brit consider £15,837 of debt as normal?
Just read an article that people have a very high tolerance for debt. Amazing.
unfortunately, the last government seemed to encourage people to take on debt (secured and unsecured) to try and dig the country out of a whole buying unnecessary consumer goods.
its a bit like the debt equivalent of Gordon Gekko (wall street) saying greed is good!
sadly the reality is dawning for many people who now find they cant afford the repayments, have little to show for where the money went and will probably end up worse off financially as they will become excluded from mainstream lending if they fall into arrears/default/bankruptcy | 01.14.11 @ 12:36