Press Release Summary = Brits are stretching themselves too far when it comes to debts. Those in their early thirties have the highest level of unsecured debt in the UK.
Press Release Body = London (loans-bazaar) May 12th, 2007: A recent poll conducted for the Alliance and Leicester shows that consumers aged 30-35 years have average unsecured debt of around £5,863. This average debt is nearly 30 per cent more than the national average.
A separate research from credit experts Experian revealed that the British consumers remain unfazed by the prospect of being in debt, until they owed more than £15,000 in unsecured loans. The more worrying fact was that five per cent of those questioned by Experian said that they would not begin to feel anxious about their unsecured loans until they owed more than £50,000.
Brits are increasingly relying on their personal borrowing capabilities by opting for unsecured loans. The Alliance and Leicester poll also suggested that people in their early thirties were the most likely to default on their repayments and make late repayments. However, the younger age bracket of consumers aged 18-29 was not in the same kind of debt, but this could be because they are dealing with student loans.
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