People who are currently struggling with a
bad credit rating may be reassured they are not the only ones experiencing such difficulties.
The average amount of debt - excluding mortgages - currently held by families has increased by 48 per cent in the past 12 months.
This is according to new research from Aviva, which indicated the overall figure per household stands at £7,944.
In January 2011, the equivalent amount of money owed was £5,360, although it may become easier to address these concerns in the near future, as it was noted typical incomes are increasing.
Monthly net income is now at an average of £2,066, which is seven percent higher than the £1,937 taken in last year.
Anyone concerned they will struggle to make ends meet may be able to consider taking out a credit card to help ease their position, as these financial products can be useful as an effective budgeting tool if it is possible to keep on top of repayments.
Posted by Gemma Walker
