Belmont Thornton Logo
PPI Claims - About PPI

PPI Claim News

Credit card charges: average household owed £3,200 in debt

Half of all homeowners were burdened by debts on their credit cards, overdrafts and loans during the height of the recession, a report has shown.

Stats from the Office for National Statistics (ONS) show that the average household owed £3,200 between 2008 and 2010.

It found that the only part of the UK where household debt did not rise was in London. The north-west of England was where household debt had risen most as the ONS noticed a 41.7 per cent increase.

However, other recent reports have shown that consumers are turning away from borrowing in loans and on credit cards.

The Bank of England reported in December that in spite of rising living costs, consumers were trying to pay down debts. It said that people were increasingly less likely to borrow money as they measured a drop in consumer credit from £377 million to £207 billion, the biggest drop in a month since records began. It did not take mortgages into account.

Amir Hussain

Amir specialises in personal loans, consumer debt and debt management.ADNFCR-2776-ID-801530904-ADNFCR

Bookmark and Share
Tell a Friend
blog comments powered by Disqus

Enquiry Form

First Name 
Last Name 
Mobile Phone
Home Phone
Address Line 1 
Post Code 
Claim Back Mis-Sold PPI Button

Belmont Thornton Limited is regulated by the Financial Conduct Authority in respect of regulated claims management activities; FRN:838450

Belmont Thornton Limited is incorporated in England and Wales, Company number 6621233, whose head office at Unit B11, Kestrel Court, Harbour Road, Portishead, Bristol, BS20 7AN and registered office at Harwood House, 43 Harwood Road, London, SW6 4QP.

Belmont Thornton Limited is registered with the Information Commissioners Office. Registration number Z1728023.

Please note that calls may be monitored for the purposes of staff training.

* Belmont Thornton operates on a "No Win No Fee" basis. This means that there are no upfront costs to pay. Our fee only becomes payable on a successful outcome of a claim. A cancellation fee is payable if you decide that having instructed Belmont Thornton to act on your behalf, and after 14 days of signing your Letter of Authority, you do not wish to continue pursuing your claim with us. The cancellation fee is the reasonable costs incurred for the work undertaken. Please see our terms of engagement.

By using our web-site, you agree that we can place the types of cookies described in our privacy policy on your device.Hide