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Unsecured lending outstanding balances at highest level for years

Outstanding balances from unsecured lending in the UK reached its highest level in over 2 years, in January 2014.

07 March 2014
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New statistics revealed a sharp increase in the amount of money people owe to unsecured loans such as credit cards, bank account overdrafts, personal and payday loans.

For the past 3 years outstanding balances have fallen in the January, compared to the previous December. However, this year saw a significant rise taking the total balance to over £160 billion for the first time since January 2012, figures from the latest Debt Statistics show.

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