Personal debt levels up by £17,000 in Harpenden
PUBLISHED: 12:00 18 November 2018
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Personal debt levels in Harpenden rose by 11 per cent in the three months leading up to October.
This is according to latest quarterly UK Personal Debt Index (PDI), which showed the average debts in the town rose to £17,756, compared to £15,927 in the previous quarter.
The PDI is compiled by insolvency practice Creditfix. Its marketing manager, Taylor Flynn, said: “Summer is undoubtedly an expensive time of year. Schools are out and holidays are in full swing – the temptation to spend on family activities, going away and enjoying the sunshine is rife.
“However, if not managed carefully, overspending can be incredibly damaging as we head towards Christmas.
“Priorities change and the pressure to save up for presents and festive parties can become even more difficult if there is a financial overhang from the summer.”
Personal debt levels dropped by two per cent in St Albans, with the average falling from £16,341 to £16,030.