UK debt interest takes 83 working days to clear

Money News

www.moneynews.co.uk > Debt > UK debt interest takes 83 working days to clear

Topics

bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet

Features

bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet

Companies

bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet

Money News

bullet
bullet
bullet
bullet
bullet

UK debt interest takes 83 working days to clear

Research has revealed that the UK's total personal debt is so large that it would take 83 paid working days simply to clear the interest owed on loans, mortgages and credit card debts.

Unbiased.co.uk calculated that all the money earned by workers in the UK this year would only be enough to pay off the interest payments on Brits personal debt, meaning that the country has not even started paying off the debt itself.

David Elms, chief executive of the website, said that it takes figures like this to bring home how much debt people in the UK face.

He added: "Tackling your debt can be a daunting task, but you don't have to do it on your own.

"An independent financial advisor will take a look at all of your finances to work out the best way for you to pay off your debts."

Unbiased.co.uk is run by Independent Financial Adviser Promotion, a company which aims to put people in touch with independent financial advisers.

Click here for more news about debtADNFCR-323-ID-19091734-ADNFCR

Related News : Debt

bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet