UK households' debt struggle at 13-year high

LONDON (AP) -- A survey published by the Bank of England shows more British households are struggling with their debts now than at any time in at least 13 years.

The survey -- Financial Position of British Households -- found that nearly half of households say their unsecured debts are a burden, compared with around 40 percent last year. That's the highest percentage of any time since the survey started in 1995.

Meanwhile, more than half of those surveyed said their available income after paying tax, debt repayments, housing costs and utility bills had fallen in the last 12 months.

At the same time, the survey also showed that only 3 percent of households had fallen behind on their bill or debt payments.

It did not publish a comparative figure for last year.

(Copyright 2008 by The Associated Press. All Rights Reserved.)


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