Home > News > Debt in scotland

More Scots with extreme credit card debts, charity reports Govt actions `could lead to debt for pensioners` Middle-class families in south-east `most in debt` Scottish bankruptcies double BBC Scotland looks at effects of debt on health Scotland avoids house price decline Optimism for Scottish economy Demand for staff in Scotland highest in UK Scots `faring better from credit crunch` Scottish markets "remarkably robust" Crunch `affecting Scottish consumers worse` Scots `feel inflation to be 8.4 percent` Scots calm as UK `goes switching crazy` Scottish house prices `dropped at end of 2007` Debt problems grow for Scots as bankruptcies soar Scots `positive` over new year debts Generous Scots spreading festive cheer Areas of Scotland `most indebted in the UK` Scottish house prices soar Tax changes `could force more towards bankruptcy`

Scots `positive` over new year debts

04/01/2008

Consumers with debt problems in Scotland could be looking forward to a brighter 2008 than the rest of the UK, according to a new report.

A study by Lloyds TSB Scotland has found that the Scottish economy is in good shape to tackle the gloom surrounding other financial markets, with consumers with debt problems most likely to benefit.

With house prices in the country continuing to rise, against a UK-wide recession and businesses looking positive regarding staffing numbers, the report suggested that Scotland will outperform the rest of the UK in a number of key sectors during the next 12 months.

Professor Donald MacRae, chief economist at Lloyds TSB Scotland, said: "Although business confidence has fallen particularly in the service sector, consumer confidence has not. In 2007 the Scottish economy should grow at around 2.3 per cent.

"Despite the credit crunch, the Scottish economy is in good shape to face the challenge of 2008."

However, according to the Herald, a record number of Scots were declared bankrupt during 2007.

Gas price cuts expected 07/01/2009 - Energy company Scottish Power has announced the launch of a Personal debt about £1.5 trillion 07/01/2009 - The UK’s personal debt stands at around £1.5 trillion, according British reliance on gas for energy growing 06/01/2009 - New figures suggest that Britain’s dependence on natural gas is Small business seek cap on credit cards 06/01/2009 - Credit card interest rates should be capped to help small