/24-7PressRelease/ - LONDON, UK, June 15, 2006 - Around two million Brits have built up debts of around 10,000 by taking out products like personal loans and credit cards. According to Pat Boyden, borrowing 10,000 to buy a new car is perfectly normal.
According to research made by One Advice, around two million Brits have built up debts of approximately 10,000 due to their inability to manage personal loans and repay credit card debts.
Pat Boyden, a personal insolvency manager at Pricewaterhouse Coopers, opines that placing yourself in a debt of 10,000 while going to buy a new car is perfectly normal. He was speaking to the BBC and responding the research made by One Advice.
It is also shown by the research that the age group which most likely to have taken on large amount of borrowing is between 35 and 44. Mr. Boyden thinks that borrowing money at this level of age is not bad if you are capable enough to repay it.
However, he suggests that it is necessary to consider whether you can afford to repay the debt. It is helpful in avoiding unmanageable level of debt.
For additional information on the news that is the subject of this press release or (for a copy, demo or sample) contact webmaster or visit http://www.secured-loans-for-any-purpose.co.uk
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