Worrying Increase In Personal Debt
The Herald|January 03, 2022
City average rose by a third last year
Andy Phillips
AVERAGE personal debt in Plymouth rose by a third in 2021 under the combined weight of the Covid-19 pandemic and an increase in living expenses, according to a new study – but it is still a fraction of what is owed elsewhere in the UK.

A study of non-mortgage debts by comparison website money.co.uk has revealed that the average amount of personal debt in Plymouth went up from £3,150 in 2020 to £4,137 in 2021 – a rise of 31% – but that pales in comparison to the average across the UK as a whole, which has soared by more than double from £9,246 to a whopping £25,879 per person.

Continue reading your story on the app

Continue reading your story in the newspaper

MORE STORIES FROM THE HERALDView All

Liverpool hoping for intervention from Reds legend

LIVERPOOL manager Jurgen Klopp is not allowing himself to even contemplate the dream scenario of a dramatic end to the title race where former captain Steven Gerrard does his old club a favour at Manchester City.

2 mins read
The Herald
May 21, 2022

Ella trekking 100km for cancer fundraiser

ARTIST AIM TO RAISE £4,000 FOR AWARENESS CHARITY COPPAFEEL

2 mins read
The Herald
May 21, 2022

Royal send-off as nuclear subs decommissioned

FINAL PARADE FOR CREWS OF HUNTER-KILLER SUBMARINES

2 mins read
The Herald
May 21, 2022

Lottery winners scoop £30k prize

THREE Plymouth neighbours are celebrating this weekend after their postcode scooped them £30,000 each with People's Postcode Lottery.

1 min read
The Herald
May 21, 2022

Dawsons £200m richer as Range rakes in profits

TYCOON NOW WORTH £2.25BN AND THIRD RICHEST IN REGION

3 mins read
The Herald
May 21, 2022

Get ready for a giant Jubilee celebration

PARADE AND PARTY PLANNED FOR THE WHOLE COMMUNITY

2 mins read
The Herald
May 21, 2022

Stunning mural paintings vandalised

MINDLESS vandals have left 'crude drawings' on murals that had been painted to brighten up Plympton's subway.

1 min read
The Herald
May 21, 2022

Culture Secretary admits to breaching Netflix conditions

THE Culture Secretary has admitted she shares her Netflix password with four other households across the country.

1 min read
The Herald
May 20, 2022

DEALS TO BE EXTENDED

ARGYLE WILL TIE PLAYERS DOWN DURING SEASON

2 mins read
The Herald
May 20, 2022

Eggbuckland Girls U15s team aiming for Cup Final success

TALENTED footballers from PlymCommunity outh's Eggbuckland College are preparing to triumph at the English Schools National Cup Final in Birmingham next week.

1 min read
The Herald
May 20, 2022
RELATED STORIES

A Loved One Owes You Money Now What?

Your sibling asked you to cover their rent for a couple of months while they were between jobs. Or maybe you loaned a friend a few hundred bucks for a car repair they couldn’t afford.

4 mins read
Techlife News
May 07, 2022

Could China Have Its Own Puerto Rico?

For the amount of work they’re expected to do, China’s regional governments are simply not paid enough.

2 mins read
Bloomberg Businessweek
February 07, 2022

Behind on Debts? Know Your Rights

There are limits on what debt collectors can do to recoup what you owe. If you have medical debts, you have even more rights.

6 mins read
Kiplinger's Personal Finance
May 2021

A Guide to Surviving Financially as The Bills Come Due

The coronavirus has dealt a financial blow to millions of Americans and now April’s bills are coming due.

4 mins read
Techlife News
April 04, 2020

From Micro- Credit To Major Debt

Tala and other startups are flooding Kenya with apps offering high-interest loans. Are they empowering the poor or profiting from desperation?

10+ mins read
Bloomberg Businessweek
February 17 - 24, 2020

Is A Debt Bomb Ticking?

Corporations have amassed a ton of debt. Protect yourself with these funds and ETFs.

7 mins read
Kiplinger's Personal Finance
March 2020

India's Stressed Banks

“This is the classic crisis of confidence”

4 mins read
Bloomberg Businessweek
November 04, 2019

Fund A Home Business!

The ultimate guide to financing a new venture.

10+ mins read
Home Business Magazine
Fall 2019

Is Donald Trump's Mysterious $50 Million Loan Evidence Of Tax Fraud?

Is Donald Trump’s mysterious $50 million loan evidence of tax fraud?

10+ mins read
Mother Jones
November/December 2019

It's Private Equity's World. That's A Big Deal

Private equity managers won the financial crisis. A decade since the world economy almost came apart, big banks are more heavily regulated and scrutinized. Hedge funds, which live on the volatility central banks have worked so hard to quash, have mostly lost their flair. But the firms once known as leveraged buyout shops are thriving. Almost everything that’s happened since 2008 has tilted in their favor. Low interest rates to finance deals? Check. A friendly political climate? Check. A long line of clients? Check. The PE industry, which runs funds that can invest outside public markets, has trillions of dollars in assets under management. In a world where bonds are paying next to nothing—and some have negative yields—many big investors are desperate for the higher returns PE managers seem to be able to squeeze from the markets. The business has made billionaires out of many of its founders. Funds have snapped up businesses from pet stores to doctors’ practices to newspapers. PE firms may also be deep into real estate, loans to businesses, and startup investments—but the heart of their craft is using debt to acquire companies and sell them later. In the best cases, PE managers can nurture failing or underperforming companies and set them up for faster growth, creating outsize returns for investors that include pension funds and universities. But having once operated on the comfortable margins of Wall Street, private equity is now facing tougher questions from politicians, regulators, and activists. One of PE’s superpowers is that it’s hard for outsiders to see and understand the industry, so we set out to shed light on some of the ways it’s changing finance and the economy itself.

10+ mins read
Bloomberg Businessweek
October 07, 2019