Alongside the strong rise in wealth creation seen over the last decade, debt levels have risen to new heights, with total consumer credit now standing at £1.35 trillion of which £215bn is unsecured — a doubling in a decade. As interest rates rose over 2006/07 concerns about borrowing levels rose too; with the economic outlook now looking shakier than at any time since the recession of the early 1990s, personal debt levels have become of even greater concern. Bank of England …
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