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Scotland`s `debt capital` identified

We see `average` debt figures so often that`s sometimes it`s hard to remember how unevenly the nation`s debt is shared out among us.

Yesterday, an article in The Times reminded us of the sheer size of the differences between one area and another. It highlighted Anderston, Glasgow, where 19.2% of the residents owe more than £15,000 in unsecured loans.

Known for being the birthplace of comedian Bill Connolly and of Sir Thomas Lipton (as in Lipton Tea), the district comes at the top of a `league table of debt` put together by market research firm CACI.

All across the country, 16 million people took part in surveys, and the results show - among other things - that around 500,000 people in Scotland are carrying unsecured debts worth more than 50% of the average salary in Scotland.

With Anderston topping the Scottish league table, Calton (Glasgow`s east end) came in second, with 17.4% of residents carrying unsecured debts of than £15,000, followed by Greater Pollok and Dumfermline South in joint third place, with 16.5% of their residents able to say that.

At the other end of the scale, the story is totally different. In Harris and South Locks (Western Isles), 7.3% of the population are dealing with that kind of debt - while just 7.1% of the population in Hawick and Hermitage (Scottish Borders) found themselves in that position.

Best off, however, were the inhabitants of Orkney, just 7% of whom had more than £15,000 of unsecured debt.

"However much someone owes, remember that the actual figure doesn`t tell the full story," a spokesperson for the IVA Advisory Centre commented.

"What really matters is how much they owe in relation to their financial circumstances - someone with a £10,000 debt and a well-paid job could easily be much more comfortable than someone with £5,000 of debt and a lower income."

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The IVA Advisory Centre are a licensed Insolvency Practice, offering free debt advice as well as IVAs and a comprehensive range of other debt solutions. If you are in debt and would like to explore your options, contact one of our advisers today.