TDX Group research alerts businesses to upward spike in bad debt

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The TDX Group Consumer Debt Report from the UK’s leading provider of data and technology-driven debt solutions for businesses, reveals that over a quarter (28%) of Brits fear they may not be able to keep up with repayments on their personal debt.

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Further reading

2017 Predictions

What does 2017 hold for the debt industry? TDX Group experts give their view on the themes and developments we can expect to see in the coming months.

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Almost a third of Brits believe they’ll never pay off their debt

Online research from Equifax reveals nearly one third (31%) of people believe they won’t be able to pay off debt within their lifetime, and over one in 10 (12%) say they won’t even be able to reduce their debt levels.

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Brits think it’s too easy to get into debt

Our research reveals that 45% of people think it’s too easy to get into debt, with a further 20% stating that banks and other lenders need to be stricter about the amount they lend to consumers.

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Divergent insolvency rates point to two-tier debt economy– TDX Group comments

Following the release of the Insolvency Service Individual Insolvencies statistics today, Richard Haymes, Head of Financial Difficulties at TDX Group, an Equifax company, comments why there is an increasing propensity for those under 35 to enter into personal insolvency:

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