Consumers think overindebtedness is not their fault

Three-quarters of people think they are not to blame for getting into debt, reveals Callcredit. A survey by the credit reference agency showed that consumers in the east of England take the most responsibility for their borrowings, with 22 per cent claiming an individual is accountable for planning whether they can afford credit. In London the figure was ten per cent. "Instead of worrying about who is to blame, as individuals we need to take responsibility for own financial wellbeing," said Owen Roberts, head of Callcredit Consumer. "Consumers need to look closely at their own borrowing habits," he added. "The agency advised that people in debt trouble should check their credit report and arrange an alternative repayment plan with their lenders. Credit Action statistics reveal that the average UK adult owes 29,063, which is 350 more than in August. At the end of September total personal debt in the UK reached 1.38 trillion and this is increasing by 1 million every four minutes."