Debt outlook bleak for Londoners
(17 February 2006)

Londoners seem to be receiving their own form of capital punishment – in the form of their desperately high levels of debt.

According to research from MyCallcredit, people in the big city owe more money than any others in the UK, with the east London, south-east London and Uxbridge areas seeing particularly significant tides of debt descend upon their populations.

Liverpool and Motherwell are similarly afflicted – with Kilmarnock, Sunderland and Birmingham also among the top ten cities for credit card and personal loan debt.

Best off are citizens of Dorchester, Salisbury, Bournemouth and Taunton – with there appearing to be some kind of link between an area's affluence and the indebtedness of those who live there.

MyCallcredit director Alison Nicholson explained: "The government and lenders are becoming increasingly concerned about families' levels of debt. Our research shows people living in east , south-east and north London as well as Liverpool, Motherwell and Uxbridge are the most likely to be stretched financially."

Whatever your debt situation, a payday loan can serve a variety of purchases. If you live in Thomas Hardy's home town of Dorchester then perhaps you wouldn't mind that extra bit of cash this month to splash out on a luxury, such as a holiday or a nice meal.

Or, if you have debts which you urgently need to pay back, some short term cash can help you manage that while buying you time to find a solution to your problems.


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