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Over two thirds taking on debt to pay for petrol

Since the 2011 Budget, petrol prices have gone up by £0.02p a litre, and new research from Equifax has revealed that more than two thirds of consumers are using their credit cards to pay for fuel, the Guardian reports.

Almost one third of those taking on debt to pay for petrol are repaying less than 25% of their balance at the end of every month.

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Mortgage debt repaid at record rate

Figures from the Bank of England (BoE) have revealed that homeowners reduced their mortgage debt by £7bn during the final quarter of last year, the Guardian reports.

The record rate of debt repayment between October and December took the total amount of mortgage debt repaid during the year to over £24bn.

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Most female graduates won`t repay debt in full after fee rise

According to analysis of the student loans system, around four in five female graduates won`t repay their student debt in full under the new tuition fees regime being brought in next September, the Daily Mail reports.

London Economics, the firm behind the analysis (which was based on official statistics), also found that middle-income men, who will have repaid their student loan by the age of 47-50, will `bear the brunt of the cost of higher education`.

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Editorial Team