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UK consumers pay off record credit card and loan debt during lockdown

UK households paid off a record number of credit card and loan debt during lockdown earlier this year, reducing overall debt by £7.4bn.

UK consumers pay off record credit card and loan debt during lockdown
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Outstanding balances on loans fell by £2.4bn and credit card debt by £5bn during April 2020 as consumers had less access to high street shops, less demand for petrol and could not frequent restaurants, bars or go on holiday. 

Read more at the Accountancy Age

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