Debt Uk: Debt Uk - Debts

At the same time, around three million people have taken out a debt consolidation loan to try to get on top of their borrowings.

Borrowing through credit cards, loans, overdrafts and mortgages has hit almost �1.4 trillion, according to comparison website uSwitch.com.

An estimated 9.5m people had "maxed out" on one form of credit during the past six months, while 38% have had a credit card application rejected, the group claims.

But nearly two-thirds of these failed to close down their existing credit facilities, and instead went on to rack up a further �2,300 of debt on average.

Overall, the research found that the average household has now amassed unsecured debts of �4,281. More>>

There are better technologies available -- I say the government should force these companies to get with the times!

Look at the progress of televisions or computers in the last 25 years... and then compare it to oil / energy / transportation.

I can't wait for the day that cars like the Tesla Roadster rule the roads. Whether these companies like it or not, a new paradigm is emerging.

Either they can start producing better technology, or they can be left behind. There is no future in oil.