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PPI Claim News - 29/12/2009

Loan charges could escalate as Brits fall into debt

Brits are falling back into debt, something that could signal growing uncertainty surrounding an economic recovery.

Research from indicates that bank and loan charges could be on the cards for many, with savings levels falling by £6 billion in the third quarter of 2009.

At the same time, Brits borrowed 32 pence for every £1 they saved over the three-month period, with debt levels decreasing only slightly despite the massive plummet in savings.

The research indicated that borrowing is at its highest level since the start of the year, as consumers took out just 27 pence in loans for every £1 saved during the second quarter.

Karen Barrett, chief executive of, said: "After the dramatic retreat from savings in favour of paying off personal debt in the first half of 2008, consumers are now slipping back into old habits."

She added that many consumers are confused as to how best make their savings work for them in an environment where interest rates stand at just 0.5 per cent.

For free advice on how to make a PPI Claim - Payment Protection Insurance claim or a credit card charges claim then call Belmont Thornton on 0845 526 0000 or fill in the Quick Claim form to be sent a free PPI Claim pack or credit card charges claim pack.ADNFCR-2776-ID-19532298-ADNFCR

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