http://www.mirror.co.uk/money/credit-card-time-bomb-personal-10356434?service=responsive

 

We owe a staggering £1.529 trillion in personal debt - the highest level since the financial crisis, new Bank of England figures show.

 

The most worrying trend is credit card debt which has shot up to a record level with £67.6 billion on plastic.

 

Over the last couple of years - CAG has been advising people in debt to start paying it down and stop taking on more debt.

It is frightening that consumers simply don't say NO to their children at Christmas and Birthdays - even just for one year - do you really need to upgrade your TV or sofa, EVERY year?

http://www.mirror.co.uk/money/credit-card-time-bomb-personal-10356434?service=responsive

 

 

 

Over the last couple of years - CAG has been advising people in debt to start paying it down and stop taking on more debt.

 

It is frightening that consumers simply don't say NO to their children at Christmas and Birthdays - even just for one year - do you really need to upgrade your TV or sofa, EVERY year?

I wish!

did you read that Lloyds are trying to buy MBNA for £1.9 billion as MBNA have a debt pile of £7.5 billion and over half a billion of that is lemon debt? Lloyds have just come out of intensive care courtesy of the taxpayer and now they are doing this. Their boss is getting a couple of million for pushing the deal through.

That is why bank HQ's are such tall buildings, it stops people sniping them from rooftops.

with the CMA apparently, initial findings due soon http://www.telegraph.co.uk/business/2017/03/16/lloyds-takeover-mbna-faces-competition-investigation/

didn't they take tsb in similar circs, and look what happened there in the end.

they don't need to worry though, if things go belly up they'll just get bailed out...

How does CC debt rise so much when everyone (inc me) had/having such a rough time since 2008? Is it the kids etc? I couldn't get tick at the local boozer never mind a CC or a loan. Mate of mine bought a house and his dad gave him £25k for the deposit. The mortgage lender had to interview the old fella and ask him where his money came from. He would have loved to have told them whatfor but his lad needed the loan, so he made up the "lifetime savings" story and bit his tongue.

If the banks - sorry, when the banks have to report massive provisions for non-performing agreements again, I look forward to financial press saying we should learn some lessons, again.

How does CC debt rise so much when everyone (inc me) had/having such a rough time since 2008? Is it the kids etc? I couldn't get tick at the local boozer never mind a CC or a loan. Mate of mine bought a house and his dad gave him £25k for the deposit. The mortgage lender had to interview the old fella and ask him where his money came from. He would have loved to have told them whatfor but his lad needed the loan, so he made up the "lifetime savings" story and bit his tongue.

 

If the banks - sorry, when the banks have to report massive provisions for non-performing agreements again, I look forward to financial press saying we should learn some lessons, again.

I think it only rises because of the interest that is added !

As for Lessons being learned - I have yet to see any proof of this and it is a phrase that makes me cringe when I hear it from the Police, the NHS, Care Homes, Councils and yes, the Financial Industry !

Marbles gotten greedy now increasing interest rates up 5% even when peeps have been over paying account monthly - attitude is like it or pay up and go.