Article preview: One result from the pandemic is a general reduction in levels of household debt. New figures show that borrowers have managed to pay off around a third of their non-mortgage debts in the past year. The data from credit checking firm Experian found that outstanding balances for credit cards and loans have declined by 32% in the last year, an average reduction of £3,764.
Debts decline as Covid cuts off spending opportunities
This 332-word blog post considers new data from Experian, looking at the average reduction in non-mortgage credit balances in the past year. Written on 27th April 2021.
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