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PwC uncovers debt concerns

Borrowing on credit cards and through unsecured loans climbed by six per cent over the year to September, PricewaterhouseCoopers (PwC) has said.According to the accountancy firm, many Britons are also concerned about their ability to pay off debt.The new PwC report showed that around one in four are worried about their future debt repayments - while 16 per cent are facing problems with the payments at the moment.Of the group concerned about debt, 14 per cent were still planning to use unsecured credit to partially or wholly fund their Christmas costs."The survey shows that some people are still prepared to borrow despite the tough market conditions, rising unemployment, a depleted housing market and the increasing sense that they will be unable to repay debt in the future," Richard Thompson at PwC told the BBC."This clearly spells tough times for both consumers and credit companies alike."

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