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Conference addresses debt crisis

29/05/2007

A conference met today to address the rising debt crisis in the UK, it has emerged.

Britain`s role as the western European country with the highest level of personal debt prompted the meeting, which was organised by Citizens Advice Scotland (CAS) and the Debt on Our Doorstep campaign, the Evening Times reports.

More than 100 delegates have come to Edinburgh to hear about how Britons are currently more than £1.3 trillion in debt.

CAS chairman Graham Blount told the publication: "Britons carry the largest debt burden in Europe and people on lower incomes pay a higher price for that than those in wealthier households.

"The conference will look at why we owe more and what we can do to bring affordable and responsible credit to Britain."

Results from the conference could contribute to a similar conference about European debt set to take place in Brussels this autumn.

Personal debt in the UK rises by £1 million every four minutes, according to Credit Action.

More than 4 million fear they`ll be made redundant 16/12/2010 - According to R3`s quarterly personal debt tracker, more than 4 Consumers took on more mortgage debt in July 26/08/2010 - Consumers took on £2bn more mortgage debt than they repaid Debts called in by parents 26/08/2010 - According to research, `the bank of Mum and Dad` is Teenagers `scared of debt` 19/08/2010 - Nearly two thirds of teenagers are `scared` of debt, according