So I read today that on average us brits are carrying £10k of personal debt not including mortgages. Some people must have tens of thousands for it to average out at £10k each or these figures are complete bks.
Do you own everything you have without any associated debt?
I try and live within my means. £10k each seems high to me and thats an average so there must be a lot with considerably higher than this to counter the lucky few who only have a few thousand or even none!
It seems bankrupcy nowadays is far too easy. I know people who are bankrupt after writing off tens of thousands and still seem to be living well even getting credit again after a few years???
How about possible debt not yet realised. For example how many people are trying to pay off 110% mortgages with their house now worth 80% of what it was when they took out the mortgage. A friend of mine is in this situation.
ks. 