overindebted on unsecured loans, and in denial by Finance News Bulletin

Published: 14/12/07

Almost four million Britons qualify for the official tag of 'overindebted' by devoting more than 25 per cent of their take-home disburse to disburseing off unsecured loans every month, debt organization firm Chiltern has warnedOne in 16 Britons classifies for this group, yet two-thirds of those are 'in denial', refusing to admit that their money are "seriously overstretched", the study showedOverindebtedness was most ordinary among Britons aged between 35 and 44, while the uppermost concentration in geographical terms was in East AngliaOne in nine East Anglians salaried more than a district of their income to service their debts, yet just one in 100 was prepared to describe themselves as 'overindebted'

On a gender breakdown, men were found to be both more probable to be overindebted than their female counterparts and more ready to confess to itCommenting on the findings, image Financial's advertising director Julia Dallimore advised borrowers that "what is vital in a financial environment of borrowing, rising interest rates and multiple sources of praise, is a level of personal engagement with our money"A more proactive approach to obtainable credit was critical to kicking the money owing habit, she addedTerms of use Advertising Resources Product guides Press releases

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