Friday, April 22, 2011

Debt Will Hit £84,000 a Family in Four Years as Mortgages and Credit Cards Push Borrowing to Record Levels

Families will be crippled by a spiralling debt crisis over the next four years, equal to an average of £84,000 per household, figures revealed yesterday.By 2015, total household debt from mortgages to loans and credit cards will hit a record-breaking £2,126billion.

The debt mountain is laid bare in documents published by the Government’s spending watchdog, the Office for Budget Responsibility. It has massively increased its forecast for the size of Britain’s debt in recent months.


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