Debt 'is growing more acceptable'

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Debt 'is growing more acceptable'

Debt is becoming more socially acceptable than it has been traditionally, an expert has claimed.

James Ketchall, a spokesperson from the Consumer Credit Counselling Service, said that issues such as high student loans have contributed to a relaxation in attitudes regarding debt.

"Once people are used to the idea of debt then its easier for them in the future, to take up credit cards and personal loans, because the stigma has already been removed by taking out student loans during university," he remarked.

Regarding what kinds of behaviours people should engage in to avoid falling into debt, Mr Ketchall explained that having "a tight reign" on outgoings is vital.

"It's important for people to realise that they need to be able to pay back what they are borrowing," he added.

At the end of July, the total personal debt in the UK stood at £1.35 billion, according to Credit Action, while each day consumers borrow an additional £322 million.

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