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9 million households expect more debts

Nine million households believe their debts will increase despite recent economic figures indicating things are improving.

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Almost a third will go further into the red this year

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.

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