DOMESTIC debt may rise to nearly £10,000 per household in 2016 as confidence in the ability to repay loans increases, claim credit experts.
Advisory group PwC says consumers in Yorkshire are increasingly more confident about their ability to repay debts, with only 16 per cent worried about making future repayments compared to 28 per cent in the last such survey fromcarried out in August 2013.
Faith in a recovering economy is reflected in a PwC-commissioned consumer poll data, which reveals that: *45 per cent of Yorkshire consumers intend to save more in the next 12 months.
*41 per cent pay off their credit cards in full every month, ahead of households in Wales 31 per cent and the East Midlands 35 per cent.
Dependence on credit to pay for essentials such as food and household bills is also at one of its lowest levels, with only 8 per cent of Yorkshire consumers needing to do so in the last six months– down from 11 per cent in 2013.
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