UK ‘debt bubble’ fears on the rise as 8m seek help during coronavirus crisis

About eight million people have sought help with their debts during the coronavirus crisis, research by Virgin Money has found. The figures will raise fears of a growing debt bubble with Britain’s consumer loans now standing at £220billion despite attempts by many families to pay down debts during the lockdown. Virgin Money surveyed more than 4,000 people to assess the state of the nation’s finances as the taxpayer schemes propping up many bank balances are set to wind down.

Source: This is Money
GO TO ARTICLE +