Consumers are coping with debts - BoE

A study of household borrowing, housing wealth and attitudes to debt by the Bank of England in September 2004 found there are significant differences between homeowners and renters but the overall level of household debt is still affordable. Most debt, says the BoE, is owned by homeowners but relatively few show signs of struggling to manage their debt payments so far. In contrast, renters are more likely to have debt problems even though their level of debt is much smaller. While circumstances surrounding debt management can change suddenly – such as when the Bank of England raises...