South East’s residents are not stressed over debts

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NEW research from the insolvency trade body, R3, has given an insight into the health of people’s personal finances in the south east.

The statistics look at residents’ day-to-day dealings with debt, as well as their attitudes towards the future, and reveal a mixed picture.

Experts from the southern committee of R3, which brings together insolvency practitioners from local accountancy, legal and recovery firms, say that overall it is a healthy outlook for the region.

People in the south east are among the least worried about their current level of debt. Sixty per cent of people say they are not worried about their current level of debt.

Just over half of people in the region say they have no debt.

Andrew Watling, chairman of the Southern Committee of R3, and a director at Quantuma in Southampton, said: ‘The results of this latest research reveal a mixed bag but overall it’s a positive picture. It’s reassuring that the majority of people in the region have no debts. It could explain why almost a third say they’d be better off with an interest rise.’