Author Topic: Local consumer debt "significantly higher" than national average  (Read 1201 times)

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Offline Editor

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Local consumer debt "significantly higher" than national average
« on: September 19, 2017, 07:38:13 am »
It's claimed the average consumer credit for the AL postcode stands at 654 per person due to unsecured personal loans, overdrafts, credit cards and car loans. Pay-day loans not included. Apparently there are now 8.3 million people in the UK with problem debts. I was surprised to see our post code up there with some of the worst affected areas.

What is the average debt where you live?
Britain's debt time​bomb: FCA urges action over 200bn crisis
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Offline pinchefalise

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Re: Local consumer debt "significantly higher" than national average
« Reply #1 on: September 19, 2017, 09:26:38 am »
Don't overlook the fact that the postcode includes Hatfield with its university.

Offline paulb

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Re: Local consumer debt "significantly higher" than national average
« Reply #2 on: October 05, 2017, 01:35:34 pm »
Debt is a real problem (30BN of car financing was added in 2016 alone).  The FairLife Charity is run by Brookman's Park people to help tackle this trend.  We have a fair trading mark for the finance industry and a financial education programme for schools.  The charity's nine Trustees include MPs from both the Labour and Conservative parties and 12 local schools are now committed to teaching financial education.
If you have some spare time and would like to help please get in touch.  All offers of help are really appreciated (with company secretarial skills in particular demand).  We work from home and meet at the Brookmans.

Many students run a 2000 free overdraft facility which will impact the numbers for the AL postcode, but the cause will be wider.
Raising Standards in Finance with a fair trading mark. Benefiting everyone in the UK by improving financial products and promoting financial education.