Millions of UK consumers could save an average of £1,257 each year by consolidating unoptimised debt, according to new Experian research. As the UK braces for the Autumn Budget this week and with Christmas spending adding seasonal pressure to household budgets, new research reveals that wider adoption of debt consolidation technology could unlock £15.1 billion in household spending and generate £2.1 billion in extra savings annually through reduced interest costs.
Currently, 83% of UK borrowers (34 million people) carry revolving credit that isn’t optimised – meaning they’re paying more interest than necessary. Having multiple lines to manage and budget for increases stress, probability of missing…