Who Is to Blame for Skyrocketing Consumer Credit Debt?

9. November 2017.

Fingerpointing begins in the UP as the Bank of England begins to scrutinize the £200 billion in consumer debt; similar to the United States, UK debt is now beyond the pre-recession highpoint.

The P2P lending association disclaims responsibility for high debt, pointing to:

  • this comprises £68bn of credit card debt, £58bn in motor finance, £15bn in various forms of higher cost credit, and £7bn in overdraft credit.

  • “I don’t think it’s specific to alternative lenders at all, but I think the regimes do need to tighten up elsewhere in the market,” said Farnish.

Mercator Advisory Group believes every retail lending channel deserves a hard look. It is time to cut losses and take advantage of recent portfolio growth; here are seven strategies to take advantage of the growth wave.

Overview by Brian Riley, Director, Credit Advisory Group at Mercator Advisory Group

Read the full story here

We will be happy to hear your thoughts

Leave a reply

Register New Account
Login to Detarplus.com
Reset Password