8 May 2007
Research from credit experts Experian has revealed that British consumers remain unfazed by the prospect of being in debt, provided their unsecured debt adds up to less than £15,000.
Nicknamed the "credit comfy" Britons, over six million of them said they would only start worrying about their unsecured loans after they had taken out more than £15,000, with 40% admitting that they are 'very comfortable' with having taking out one or several loans.
Worryingly, one in 20 of those questioned by Experian said they wouldn't begin to feel anxious about their unsecured loans until they owed more than £50,000.
Despite these figures, when asked how much of a social taboo being in debt was, one in five said that declaring bankruptcy was the most socially embarrassing life event and another 11% saying that just getting into debt was the worst event imaginable.
Financial analysts have criticised this blase attitude towards money and have urged consumers to look at all available credit options to ensure they are getting the best deal for their money.
© 2008 Adfero Ltd
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