April 19, 2006

By Peter Kenny

Creditexpert, the online credit monitoring agency owned by Experian, have published a report indicating that the majority of Britons are satisfied with their level of debt.

The Ipsos Mori poll questioned 2000 UK residents. The findings have come as a surprise especially after the news earlier this week stating that over 2 million people in Britain have a personal debt of over £10000 on personal loans, overdrafts and.

The poll results showed some interesting insights with over 75 per cent of all UK borrowers stating they were comfortable with their current level of debt. More than 32 per cent of those interviewed expressed a high consumer confidence and they expected their personal debt to be reduced in the near future. Only 11 per cent reckoned their persona debt would rise. It was also found that 7 out of 10 borrowers were financially confident.

When examining the regional differences in the poll it was found that people in London were less financially optimistic due to the high housing costs associated with the area with a net confidence rating of just 47 per cent.

Jim Hodgkins, Creditexperts’s managing director said, “It's important that we keep track of our credit commitments to ensure we're borrowing within our means and are aware of any changes to our credit report that could impact our future borrowing power"

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