Britain’s £173 Billion “Debt Timebomb”
By: GoldSeek
GoldSeek.com
Wednesday, 9 September 2015
UK households are sitting on a £173 billion debt time bomb after once again being lured into a spending splurge by banks and credit card companies.
The startling rise in debt levels due to people splashing out on new cars, TVs, conservatories, luxury items, consumer goods and home improvements was uncovered in an investigation by Money Mail.
With a rise in interest rates imminent for the first time in more than eight years, fears are growing that many families will be left struggling with repayments.
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