- 3 updates
A survey has found that people who are already in debt expect to turn to more borrowing to make through the year. The MoneySuperMarket poll found that:
- Of those with existing unsecured borrowing such as credit cards, overdrafts or loans, 30% will move even further into the red to cope this year
- 6% of those in debt expect to have to spend more simply to cover their essential monthly outgoings
- Almost one in ten (8%) will pay for their transport costs on plastic
- 6% will use credit cards to cover their utility bills
Where possible however, some people are taking necessary action to attempt to pay off their debts, with almost a third (30%) paying what they can each month to try and clear the deficit as quickly as possible.
Opinium research conducted 2,002 online interviews between 21st - 24th January.
Nine million households believe their debts will increase despite recent economic figures indicating things are improving.
Research by MoneySuperMarket has shown that two-fifths of UK adults in debt rely on unsecured credit in order to pay their way day-to-day and one in ten use credit to fund transport costs.