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Personal loan debt 'remains constant'
Levels of personal loan debt have remained constant over the past 12 months, according to new research.
The study by Unbiased.co.uk revealed that the trend has been seen despite banks choosing to place increased levels of repayment and restrictions on consumer lending products.
According to the financial advice website, the figures suggest a greater number of loans are running to their full terms, although the low base rate means now is the time for people to consider getting back in control of their debt.
Karen Barrett, chief executive of Unbiased.co.uk, said: "Debts can quickly mount up to a considerable sum and this date demonstrates that debt is something that we need to take control of and actively manage.
"Tackling your debt doesn't have to be a daunting task and you don't have to do it on your own."
Recent figures published by the Better Banking Campaign revealed that seven out of ten consumers in the UK think access to bank accounts and personal loans should be a universal right.