Consumer debt in the UK: Attitudes and implications

Some sections of society have expressed concerns that consumer debt has risen to a dangerous level. However, there is little evidence regarding how consumers themselves feel about debt. This paper reports up-to-date findings from the International Institute of Banking and Financial Services’ Financial Well-being Survey about consumers’ attitudes towards debt in general and their current levels of borrowing. The implications for the financial services industry and its regulation are discussed.Consumer credit, Over-indebtedness