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Bank of England releases March debt figures
Yesterday, the Bank of England (BoE) released its `Lending to individuals` figures for March, showing how much extra debt consumers had taken on.
The BoE reports the `net lending` figures - i.e. the amount of debt taken on that month minus the amount repaid. That`s why it`s possible to get negative figures, if the amount of debt repaid is greater than the amount lent out.
Debt figures for March
The latest figures from the British Bankers` Association (BBA) have now been released, showing us how much debt people took on - and paid off - in March.
Gross mortgage lending in March (£8.7bn) was the same as in February, and lower than the average over the last six months (£9.2bn). The figure was also 0.4% lower than the figure for March 2009.
New agency to help people `avoid debt spiral`
Getting out of debt can be a struggle - but it`s a struggle that some people will hopefully never have to face if a newly created agency achieves its goals.
CFEB, the Consumer Financial Education Body, has taken on the role of improving money education and helping people avoid `debt spirals`, as the BBC puts it.
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