Britons 'need to take responsibility for debt'

As many as 75 per cent of Britons believe that their debt problems aren't their own fault, according to new research from Callcredit.

The firm has said that such sentiments contradict statistics which show that collective consumer debt has risen by £1.35 billion over the past month, with consumers in London seen as the least responsible.

Just one in ten in the capital believe they are to blame for their over-indebtedness, the study found, yet 22 per cent of those in the east of England say that consumers should be accountable for working out how much borrowing they can afford.

"It is important to remember that responsible lending goes hand in hand with responsible borrowing.  Consumers need to look closely at their own borrowing habits and take control of their finances," said Callcredit Consumer head Owen Roberts.

"My advice to people who feel that they are struggling with repayment commitments is to assess their debts by checking their credit report; they should then contact their lenders to discuss a suitable repayment plan," Mr Roberts added. The alternative would seem to be mortgage arrears and possible repossession.

With more Britons turning to bad credit home loans, it seems that such problems will not go away any time soon.

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