Home > News > Debt in scotland

Initiative announced to support Scottish people in debt More Scots with extreme credit card debts, charity reports Govt actions `could lead to debt for pensioners` Middle-class families in south-east `most in debt` Scottish bankruptcies double BBC Scotland looks at effects of debt on health Scotland avoids house price decline Optimism for Scottish economy Demand for staff in Scotland highest in UK Scots `faring better from credit crunch` Scottish markets "remarkably robust" Crunch `affecting Scottish consumers worse` Scots `feel inflation to be 8.4 percent` Scots calm as UK `goes switching crazy` Scottish house prices `dropped at end of 2007` Debt problems grow for Scots as bankruptcies soar Scots `positive` over new year debts Generous Scots spreading festive cheer Areas of Scotland `most indebted in the UK` Scottish house prices soar

Scots `positive` over new year debts

04/01/2008

Consumers with debt problems in Scotland could be looking forward to a brighter 2008 than the rest of the UK, according to a new report.

A study by Lloyds TSB Scotland has found that the Scottish economy is in good shape to tackle the gloom surrounding other financial markets, with consumers with debt problems most likely to benefit.

With house prices in the country continuing to rise, against a UK-wide recession and businesses looking positive regarding staffing numbers, the report suggested that Scotland will outperform the rest of the UK in a number of key sectors during the next 12 months.

Professor Donald MacRae, chief economist at Lloyds TSB Scotland, said: "Although business confidence has fallen particularly in the service sector, consumer confidence has not. In 2007 the Scottish economy should grow at around 2.3 per cent.

"Despite the credit crunch, the Scottish economy is in good shape to face the challenge of 2008."

However, according to the Herald, a record number of Scots were declared bankrupt during 2007.

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