Two Glasgow areas are debt hot spots

A new study has revealed that two areas of Glasgow have the highest levels of debt in Scotland.

The survey, by CACI market researchers, measured how many adults have unsecured loans of more than £15,000 and found Anderston and Calton had the highest number.

For the Anderston area, nearly 20% of adults had debts in excess of £15,000. The Calton area was next, with 17.4% of adults carrying debts of more than £15,000. Dunfermline South and Greater Pollok both had 16.5% and Cumbernauld North had 16.4% making up the rest of the top five debt laden areas in Scotland.

The figures contrast sharply with the figures for the least indebted areas, including North Isles in Orkney (7%), Hawick and Hermitage in the Borders (7.1%) and Harris and South Lochs (7.3%). The results are based on returns from 16 million people in the UK, and show that half a million Scots have debts of more than £15,000 – half of the average salary.

Osama Saeed, the SNP candidate for Glasgow Central constituency, which is home to Anderston and Calton, said: “If people are building up such levels of debt through choice it raises questions of financial education. If it’s by necessity though, there are another set of issues. In both cases, the regulation has to be lacking if people can build up debt they can’t afford.”

Source:  heraldscotland.com