Half of households 'struggling with debts'(UK)

[CHIMO]

More than half of UK households are struggling to repay credit cards and loans despite the economy showing signs of recovery this year, the Bank of England said today.

In its annual survey of household debt and spending, conducted by NMG Consulting, the Bank found that 51% of consumers said their unsecured debts were a "burden" in 2010 – a record high for the survey.

It also said significant proportions of people with high loan-to-value mortgages and people renting said their unsecured debt was a "heavy burden".

One in two households claimed they had seen their disposable income fall over the past year, and more than a quarter (28%) said their monthly earnings had fallen by more than £100 – only 14% said it had gone up. The number of households that had fallen behind on some or many bills and credit card or loan repayments increased only slightly this year.

http://www.guardian.co.uk/money/2010/dec/13/half-households-struggling-with-debt

Central bank head warns Canadians the ‘crisis is not over’
He repeated his warning that the current high level of household debt raises profound risks for Canadians.

“Without a significant change in behavior, the proportion of households that would be susceptible to serious financial stress from an adverse shock will continue to grow.”

http://www.moneyville.ca/article/906167--central-bank-head-warns-canadians-the-crisis-is-not-over

Seems to be a common idea.