/24-7PressRelease/ - LONDON, UK, April 24, 2006 - (online-unsecured-loans) According to a study conducted by debt advice firm One Advice, nearly five hundred thousand British people have more than 20,000 as unsecured debt only.
The new research also found that around two million UK residents owe 10,000 on credit cards, loans and overdrafts.
Chief Executive of One Advice, Chris Holmes said, "With many unsecured borrowing products having high interest rates, many people are entrapped in debt, often only paying off the interest accrued every month as opposed to the capital they have borrowed."
He further added, "Those caught in this situation need to take action otherwise it is likely that they will fall further into debt."
Those who were most likely in debt were people aged between 35 and 44 years. Around 650,000 people within this bracket owe more than 10,000.
It was also found that the most popular form of debt was in the form of personal loans. Almost a million people in UK owe more than 10,000 in personal loans itself.
For additional information on the news that is the subject of this release (or for a sample, copy or demo), contact Webmaster or http://www.online-unsecured-loans.co.uk
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