One-in-five British adults have had an outstanding credit card balance for at least six months, including the 4 per cent of British adults who have had an outstanding balance for over five years, according to a new survey.
The research, part of a long-running survey of Britains personal finances also found that of the 34 per cent of British adults currently worried about their level of debt, 49 per cent are worried about their credit card debt by far the most common cause of concern of the types of debt tested.
Mark Sands, chair of insolvency trade body R3s Personal Insolvency Committee,who commissioned the research, says: With low interest rates, lengthy interest-free periods, and a poor period of real wage growth, credit cards…
Read the full article at: http://www.bmmagazine.co.uk/in-business/1-in-5-brits-has-outstanding-credit-card-balance-over-six-months/
