CCR Magazine

You are here  :Home arrow News arrow ‘No room for complacency’ as growth of credit continues
Contact Us Newsletter Signup RSS Feeds

Latest News Headlines


Commercial Credit News


‘No room for complacency’ as growth of credit continues PDF Print E-mail
Thursday, 30 November 2017
The Bank of England has today published its latest monthly Money and Credit report showing growth in consumer credit of 9.6 percent in the year to October. Outstanding balances for consumer credit now stand at over £205 billion. 

Joanna Elson OBE, chief executive of the Money Advice Trust, the charity that runs National Debtline, said: “Whilst today’s figures show a very slight easing in the rate of increase of consumer credit, outstanding consumer credit balances now stand at over £205 billion.

“With rising living costs, low wage growth and a rise in interest rates contributing to a squeeze on many household’s budgets, there is no room for complacency. A rise of 9.6% in consumer credit growth when wage growth is at 2.2% is clearly a worry.

“Many families are already struggling to make ends meet, and with Christmas fast approaching, we encourage people to exercise caution before taking on additional borrowing and to consider how they would be able to cope with repayments in the event of a shock to their income.

“Anyone struggling to cope should contact National Debtline or another free debt advice agency as soon as possible."

 Forums International Ltd

Forums International Ltd

 Attendance at your first meeting is free of charge, and please quote reference 'CCR2016' to receive the special 10% discount off of your first annual subscription.

Find out more here.

latest issue

CCR Cover

The latest edition of CCR Magazine, the leading editorial publication in the UK credit industry, is out.

Read the latest issue online


CCR is the premier magazine for consumer and credit professionals. It provides an independent voice to the industry, breaking major news stories and running in-depth features.

As a magazine, it works with and campaigns on behalf of the credit industry to promote its importance as a centre of potential profit and business development to the wider business world.

Subscribe to CCR Magazine

CCR World Magazine


Providing information and analysis for thousands of senior credit professionals worldwide, every quarter.

Find out more

GTS Media Ltd
81 Cambridge Road

Registered in England No: 05483197