A quarter of region’s residents had more debt in 2017 than the year before, research shows
David Pereiras Villag
People in the East of England are the least likely to be struggling to pay off their credit card balance, with most paying in full each month, according to a credit information provider.
However, the region ranks as one where people are most likely to have missed a payment on their credit cards, with 17% of people admitting to missing a payment.
The YouGov research, commissioned by Equifax, revealed that a quarter (24%) of people in the East have more debt in 2017 than in the previous year.
More than one in five (22%) said they had gone over their overdraft limit at some point without approval from the lender, compared with a UK average of 18%.
Equifax says this suggests they could be at risk of slipping into “unmanageable debt” if their financial circumstances change.
It follows news from the Bank of England that UK borrowers tend to remain in debt for longer than previously thought.
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